Meme cash, with their wild value swings and internet-fueled frenzy, have change into a land of alternative for some cryptocurrency merchants.
Millionaire dealer Unipcs, often known as the ‘Bonk Man‘, is a shining instance, having amassed vital wealth by driving the surges of those digital belongings.
In an interview with Benzinga, Bonk Man supplied a uncommon glimpse into his methods and insights on the meme coin market, shedding gentle on the world of high-risk, high-reward crypto investing.
Early Recognition And Sample Searching
His foray into meme cash predates the rise of in style names like Bonk and Wif. “I’ve been buying and selling meme cash for a really very long time,” he says, “and previous to Bonk BONK/USD and Wif WIF/USD present.”
He credit the 2021 Dogecoin DOGE/USD surge and the retail investor motion on WallStreetBets for sparking his curiosity.
“Seeing all of the retail buzz across the GME GME/USD quick squeeze, the WSB memecoin mania, and the ensuing Dogecoin explosion made one thing click on in me,” Bonk Man explains.
He quickly observed a sample with meme cash and was capable of predict which of them had been prone to explode, permitting him to take a position strategically.
The Energy Of Neighborhood And Liquidity
Bonk Man emphasizes the essential position sturdy neighborhood backing performs in a meme coin’s success. “I be certain that there’s a sturdy neighborhood as a result of meme cash thrive on sturdy neighborhood,” he states.
He thrives on tasks with “retarded cult-like believers who suppose their meme cash will flip Bitcoin BTC/USD, go to 100 billion {dollars} market cap, and treatment world starvation,” he says with a contact of amusement.
“The extra irrational their ardour for his or her meme cash, the higher,” he provides.
In keeping with Unipics, this fervent loyalty is essential for propelling a meme coin in direction of vital value will increase.
Liquidity is one other key issue.
Whereas meme cash supply the potential for explosive development, they require enough buying and selling quantity to be readily convertible into money.
“Finally, for any meme coin to go mainstream it wants liquidity,” Unipics explains. “So, I additionally take note of quantity and CEX listings over time.”
The Bonk Wager: A Case Research In Meme Coin Mania
Unipics’ sizable funding in Bonk, a Solana SOL/USD primarily based meme coin, serves as a chief instance of his method.
Whereas initially skeptical, he was swayed by a mix of things: the affect of a revered crypto analyst, Bonk’s standing because the main meme coin on Solana, and the potential for Solana’s personal value appreciation.
Diamond Arms: Using The Rollercoaster
Meme coin buying and selling is a wild trip, and Unipics acknowledges the emotional toll it could possibly take.
He advocates for a “moon or bust” mentality, the place buyers write off their holdings and focus solely on reaching their goal revenue or accepting an entire loss.
“As soon as I purchase an asset, I simply write it off in my thoughts,” he explains.
“I’m not moved or fazed if it goes to zero. I merely give myself a goal and maintain till it reaches my goal or goes to zero. Nothing else issues.”
This method, he argues, permits for a extra indifferent and fewer demanding buying and selling expertise.
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Trying Forward: Bonk, Floki, And Past
Bonk Man stays bullish on Bonk, citing its affiliation with Solana and the potential for additional development.
“I’m clearly very bullish on Bonk for causes I already listed,” he says.
“I’m the ‘bonk man’ for a motive.”
He additionally highlights Floki FLOKI/USD, one other meme coin with a robust monitor file, as an underrated gem.
“In addition to Bonk, I’m very enthusiastic about Floki,” he reveals. “It’s my largest memecoin bag, and I believe it’s presently probably the most underrated main memecoin.
Whereas Floki launched in 2021, it has outperformed each different main memecoin together with PEPE PEPE/USD, Shiba Inu SHIB/USD, DOGE, besides WIF, this yr.
“But barely anybody talks about it on CT [Crypto Twitter]. I believe it is going to shock many this yr,” he predicts.
He additionally expressed curiosity in smaller cap meme cash like Lmeow on Ethereum ETH/USD and Linda on Linea chain.
For these seeking to make substantial income from meme cash, he advises listening to his earlier methods and sustaining a robust, affected person mindset.
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Picture created utilizing synthetic intelligence with Midjourney.
