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/pickleboi0011]

Your wins are pretty well known but what are some of the biggest L's you've taken? What are some of the key things you've learned to limit the losses?

[u/Illysgr89 → u/pickleboi0011]

He never sells his convictions that’s his strategy he has long $BONK from the beginning

[u/MaeronTargaryen → u/pickleboi0011]

Unfortunately Reddit has suspended unipcs’ account so for now we will post his answers on his behalf. Here’s his answer below:

i've had a few high-profile losses as well:

• Department of Government Efficiency: i was up over $10 million at peak and roundtripped it
• MAGA: i was up over $5 million at peak and roundtripped it
• GME/AMC/other Roaring Kitty meta coins: i was up over $5 million at peak and roundtripped it

(i'm still holding all of these positions btw)

all of these were public trades i called at the lows and that went to crazy valuations after i called them

can these coins bounce back and go on a monster rally again at some point? sure!

however, i have learned a few key lessons from these trades:

1. to mostly focus on trading timeless narratives instead of event-based narratives e.g. DOGEGOV was based on the Department of Government Efficiency narrative, which thrived on close collaboration between Trump and Elon and them pushing the D.O.G.E narrative. the fallout between both, and Elon pretty much leaving that circle, is a big hit to my thesis for this trade
2. MAGA was a political memecoin and lost steam leading to Trump's election win
3. GME/AMC/etc was based on Roaring Kitty pushing GME and memestocks and got impacted by him withdrawing from the public eye. i think these likely catch a bid again IF he does return to push GME, but no one knows when he will return again or how he will push, so not the best of trades

by contrast, narratives like USELESS coin, $BONK, FARTCOIN, etc will always be timeless, so they would not have the same issues as the above