How One Crypto Trader Turned $16K Into $18M
Release: 2024/08/19 21:54 Reading: 944
Key Points
A Bybit user known as Unipcs (Bonk Guy) transformed $16,000 into $18 million in a single trade.
From $16,000 to $18 Million
Unipcs revealed he initiated a BONK long trade on Bybit in October 2023, investing just over $16,000 with 6x leverage. At present, his unrealized profit stands at over $10 million, with its peak exceeding $18 million.
Despite experiencing drawdowns of 70-80%, Unipcs maintains confidence due to his belief in BONK's significant market cap growth potential.
Reasons for Choosing Bybit
Unipcs highlighted Bybit's initial comparison with other exchanges, citing its liquidity and trustworthiness while offering BONK with leverage.
Factors Favoring Meme Coins
Unipcs attributed his bullish sentiment towards BONK and meme coins generally to their "memeability," association with the Solana culture, and accessibility on major exchanges.
Additionally, he emphasized favorable macro factors such as the potential FED pivot, upcoming rate cuts, and institutional interest.
Meme Coin Predictions
Unipcs mentioned FLOKI as his top meme coin holding, expressing optimism for its potential as a cycle's biggest gainer.
Regarding top performers, he predicts FLOKI and BONK, but also anticipates strong performance from PEPE and WIF.
Unipcs anticipates the meme coin market to reach $300 billion and believes some coins, including BONK and FLOKI, could surpass $10 billion.
Determining Best Meme Coins to Buy and Hold
Unipcs shared insights into his selection methodology:
- Identifying a pattern or narrative aligned with the meme coin
- Assessing the coin's community strength and advocacy
- Ensuring sufficient liquidity and accessibility on both DEXs and CEXs
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