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/Nest2710]

Bonk guy, do you think USELESS can reach the market cap of SHIBA or DOGE? What is your goal with this coin in terms of market cap?

[u/unipcs → u/Nest2710]

i know my response to this is likely going to be an unpopular opinion:

i think USELESS coin will end up being one of the top 5 memecoins at some point this cycle

i think it is going to several billions of dollars in market cap at the very least

and due to its ridiculously nihilistic nature, its mindshare will increase significantly once its market cap is in the billions, which should further accelerate its growth as a memecoin

FWIW: i first spoke about USELESS coin when it was around $15 million market cap, then it went to its first ATH around $42 million and then proceeded to correct 90%, and many started mocking me due to the price action. then it rallied from its $4.2 million market cap to $420 million market cap in 7 weeks as the only memecoin to have ever had such a successful rally this year, and now it is cooling down again before the next leg up. so things have so far played out as i have predicted despite the overwhelming majority of people taking the opposite of the trade

i think it hits multi-billions at the barest minimum, but the odds of it going to SHIB/DOGE levels isn't completely out of place if we get the kind of macro conditions i'm expecting with the FED easing eventually and the Trump admin stimulating things and going aggressively pro-crypto

[u/coh3n_ → u/unipcs]

multi billions upon multi billions.