since quite a lot people seem to be talking about 'bonk guy' today i figured i should post an update about my $BONK long i promised not to publicly post a PNL until it hits $50 million so i will reveal two key things: - how long i've held the position for: 13 months - total amount paid in funding: $1,879,391.67 (for those who are worried about the high funding: don't worry the pnl is at very high 7 figures so i'm fine + i think bonk starts its explosive move soon anyway so it will look like a drop in the bucket eventually) i'm sharing this because the bonk guy story is often glamorized when many hear that i turned $16k to $18 million peak upnl they assumed it happened in a jiffy, when the exact opposite is the case as the legendary @cz_binance says: 'if you can't hold, you won't be rich' another trade i seem to be getting a lot of attention for recently is the Department of Government Efficiency / $DOGE trade where i turned 6 figures to what is currently $6.6 million via my public ENS (i'm the top holder right now so you can easily verify this) i'm currently seeing this particular trade glamorized as something that was initially obvious in reality, i've been shouting about this narrative and how big it would be in degen groups for 2 months now and many ignored me to make things even more interesting: D.O.G.E literally crashed about 80% shortly after my entry (and my mentioning it here on X) two months ago and looked dead for over a month, then it all of a sudden pulled a 2,300% rally in the past month i could go on and on e.g. $FLOKI is one of the memecoins i talk about a lot as my biggest memecoin holding, yet i've held it across two cycles my point is: while people tend to glamorize trading memecoins as 'easy money', it is anything but more often than not, people that make it big from memecoins often have to hold for long periods of time and stomach a lot of volatility dogecoin was launched in 2013, but it only really took off in 2021 where it rallied from $0.005 to $0.73 in the span of a few months, a 14,500% gain $SHIB was created in 2020 yet it did not have its major move until 6 months later in January 2021 where it pumped an unbelievable 7,000,000%+ from its yearly lows in the span of 10 months in fact, many who bought SHIB at its 2020 launch lows dumped it after its initial 90%+ correction (they thought it was done!) where it consolidated for a period of about 5 months before pulling the greatest rally of any asset in human history i could go on and on... and i do not want you to get me wrong: i'm not saying every memecoin will be like this in fact, most memecoins will NOT be like this a lot of memecoins will die, simple! and many of the ones that pump will eventually go much lower at some point depending on market dynamics and other factors e.g. memecoins thrive on the attention economy so when that attention disappears the price follows so i do not want to obscure or mince words about the risk that come with memecoin trading: buyers beware! but my point is this: almost every glamorous story of people who made insane amounts from memecoins came from people who had CONVICTION often, this means they had to hold for years or at least a lot of months it rarely happens in days or weeks as many try to make it seem like and i think this is the most important factor that many miss when it comes to trading memecoins 'so bonk guy, why have you held your BONK for 1 year and 1 month despite being up big?' because i strongly believe it's going much higher ironically, i shared an interesting BONK bull case in a private group earlier today, so i will simply conclude this thread by listing most of the points i mentioned: - bonk is the only new memecoin currently on Coinbase spot (this unlocks US liquidity, and the US is the financial capital of the world) - bonk is the only memecoin to have an ETP (even DOGE & SHIB do not have an ETP yet) - aggressive buy pressure from BonkBot, which will accelerate as onchain volume balloon to highs unseen before when things get heated this bull (i.e. soon). most of this volume will happen on solana and through bonkbot, and a significant portion of the fees will buy and burn BONK - bonk is listed on Upbit, South Korea's biggest exchange which positions it to benefit from the 'kimchi premium' when it starts exploding - rumors (from credible sources) is starting to spread about an incoming Robinhood US listing for bonk, and it's the only memecoin i've heard these rumors about this cycle. a similar rumor notably fueled SHIB's insane rally to $40 billion+ last cycle - more importantly: bonk has basically just been in a long ass period of consolidation. it has consolidated in the same range for one year now after its monster rally late last year, which is funny since last year's mega rally was also after a period of similar consolidation finally: while most people remember the explosive BONK rally from last year (which was where I took the trade that made me 'CT famous'), many have yet to take a look at the BONK chart on HTF (high timeframe) it is literally one long ass consolidation after a minor cool-down of that initial rally, and that consolidation has happened for almost a year now (ironically, this reminds me of another giant consolidation of almost 1 year that bonk had before the move last year) when it finally breaks out of it, it won't be doing a measly 2 or 3x IMO