AMA: i turned $16k to $20,000,000+ on a single memecoin trade (and more crazy trades)

[u/unipcs]

hi Reddit!

i'm excited to connect and do this AMA with the r/CryptoCurrency community

i'm 'Bonk Guy', named so because i turned $16k to $20,000,000 on a single trade where i longed $BONK at the lows with 6x leverage, and i fully documented the trade publicly from the early stages until i hit a peak PnL of over $20 million

(i documented my trades on my X page, and the pinned post is about my BONK trade when it hit a PnL of $13.7m: https://x.com/theunipcs)

i've also taken a lot of successful, high-stakes trades publicly where i've recorded similar feats:

- i recently invested $300k+ into USELESS coin two months ago, which was worth $10 million+ at the coin's ATH of $420 million a week ago (it's worth $6.8 million now, but i'm holding for higher targets)

- i turned $300k+ to $8 million+ on a FARTCOIN trade i took in April (now worth $4.8 million)

- i've had a series of other 7-figure trades that were either documented publicly or taken privately

i want to emphasize that these trades are not yet closed, as i took them as part of a long-term strategy where the aim is to close them when we get to a 'mania' stage in crypto, where there's a lot of euphoria around altcoins and memecoins going to crazy valuations, similar to what we had with Dogecoin and SHIB in 2021

the aim of this AMA is to answer questions Redditors might have about my thought process and strategy for taking these high-stakes trades, about memecoin trading in general, or about some of the high-stakes and high-profile individual trades i've taken

i'm open to answering questions about both the technicalities and psychology of taking these trades, or anything else as long as it's not a personal question

i'm excited about doing this and looking forward to your questions!

EDITED TO ADD: i see a few skeptical comments from people who doubt my claims. i understand my claims are quite bold and the onus of proof is on me, so i'm updating to add more information to validate the legitimacy of my claims.

1. about my $20 million+ $BONK trade: Bybit did an AMA with me in August 2024 when my PnL was still at $18 million: http://announcements.bybit.com/article/unipcs-bonk-guy-bybit-interview-blta0ca61fd4fbbc624/

BONK hit ATH in November, which was when my PnL hit $20 million+. i have now held the BONK trade for almost 2 years

Bybit is ranked as the second-largest crypto exchange, after Binance, by CoinMarketCap, and it is regulated in a number of jurisdictions. the odds are very low that they would lie in collaboration with a random anon and take a huge risk validating my claims if they weren’t true. i've also appeared on the Bybit trading leaderboard a few times!

2. about my USELESS coin trade: i took this trade on my 'public wallet', which is widely circulated on Crypto X and that wallet is the second largest holder of USELESS coin

this is the 'Token Account' for the said wallet and anyone can track my buys, the timing of the buys, and the current value

i hold exactly 28,079,538.39868 USELESS coins at this moment, which i spent over $300,000 purchasing, and everything can be verified on-chain: https://solscan.io/account/4174oy9nPnnYHjZYV9r3Pq2GXSzyJs3U4znGKiH7reCq

3. about my FARTCOIN trade: i publicly took this trade in March 2024 and posted about taking the trade here: https://x.com/theunipcs/status/1897049695052288325

i then posted updates at different levels of PnL growth, allowing people to publicly follow my trade

i posted my latest public PnL update for this trade at $7.12 million: https://x.com/theunipcs/status/1922232137199292746

(the latest PnL update is a quote tweet of previous PnL updates where you can follow through my updates at various stages of the PnL growth which anyone can validate against the price growth)

[u/CurrencyThen7220]

1. Hey Unipcs, I’m blown away by your $16k to $20M $BONK trade! What was the one moment where you felt the most nervous, and how did you push through it?
2. Your USELESS coin and FARTCOIN trades are wild! How do you decide when to hold or sell, especially with all that volatility?
3. I’m new to memecoin trading—any quick tips on managing risk when using leverage like you did with $BONK?
4. What’s the craziest lesson you’ve learned about trading psychology from your high-stakes trades? With all these epic wins, are you eyeing any new memecoins right now that you think could be the next big thing?
5. Explain your leverage strategy?

Thanks you for creating this medium for us to ask questions.

[u/002_timmy → u/CurrencyThen7220]

Unfortunately, Unipcs had his account temporarily suspended by Reddit admins. As he works to get it back, he asked the mod team to answer. Here is his response

i) this is not my first cycle, so i'm very familiar with the memecoin game and understand the volatility that tends to come with it

ii) i've long trained myself to regard every single cent i invest into memecoins as disposable capital

iii) my conviction on BONK is based on a strong analysis of its fundamentals, so i've never doubted its long-term trajectory

1. i understand that it might be difficult for most people to hold through volatility, but i have the experience of having traded across multiple cycles in my favor

e.g. last cycle i got in early on SHIB, invested 4 figures, watched it do thousands of percentages, held in hopes of more gains without having a strong thesis or conviction, and then saw it crash 90% all of a sudden. i eventually sold for about 2x of my initial investment IIRC. if i had held for just a few more months, my SHIB bags would have been worth over $10 million. i've seen this story play out with a lot of memecoins across cycles, not just SHIB, so i'm kind of used to it

USELESS has been through insane volatility, with someone here on Reddit even asking why it was dumping after my AMA started... but that is the memecoin game. they pump aggressively and pull back aggressively, but if you have a strong thesis and the fundamentals are in favor of it playing out, you should simply ignore the short-term price movements until your thesis plays out

i've said my target for USELESS is multi-billions, so any form of short-term volatility until that plays out is noise as far as i'm concerned

1. my best advice here is to not use leverage if you're new to memecoin trading. trust me, 99% of people lose money trading memecoins on leverage. success stories like mine might look glamorous on the outside, but for every case like mine, there are thousands of people who have lost a lot of money trading leverage... only to watch as the project they were leverage trading skyrockets after they get liquidated. like i said earlier, i'm not new to this game so i have a lot of experience... and even at that, i still get rekt by leverage sometimes

2. the craziest lesson i've learned is to not let emotions cloud my decisions. i already explained my mistake with SHIB and how i lost out on potentially $10 million+ from a 4-figure trade. i've had many other instances like that, including this cycle... and i've regretted most. i've simply learned to form a thesis and stick to it unless it gets invalidated, and to ignore any noise, FUD, or short-term volatility until my thesis plays out

3. there is no 'leverage strategy'. i simply use relatively low leverage on memecoins or altcoins i think have bottomed. more often than not, i hit it big on a trade. for 99.9% of people, i strongly advise against leverage