Unipics also known as 'Bonk Guy', revealed a seven-figure profit in 48 hours trading AMC (CRYPTO: AMC) and GameStop (CRYPTO: GME) derivatives on Solana.
What Happened: Bonk Guy disclosed that he invested around $155,000 in trade which is currently worth $1.3 million with an unrealized profit of $1.15 million (marking 641% gains). He made this money through his trade on AMC and GME meme coins on Solana, noting that the real "meme coin season" hasn't even begun yet. According to Bonk Guy, there is potential for more explosive gains in the future.
i'm up 7 figures in 48 hours trading the $AMC and $GME derivatives on Solana (on one of my wallets!)
and i live tweeted my trade
it's crazy to think that the real memecoin season hasn't even started yet
things are going to get ridiculously explosive this cycle
God willing pic.twitter.com/li3JWvNX8O— Unipcs (aka 'Bonk Guy') (@theunipcs) May 15, 2024
Based on DEXScreener data, AMC/SOL is up 16,000% on the week, trading at a valuation of $17.1 million. GME is valued at $117 million, up 3,400% on the week.
These price gains put the two low-cap meme coins far ahead of the weekly performance of bigger meme coins, such as Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB).
Why It Matters: Bonk Guy also suggested that if the narrative around AMC and GME remains strong, the stocks are likely to continue their upward trajectory. This could bring more attention to decentralized derivatives on Solana, especially as retail investors become more aware of these platforms.
The trader concludes with a word of caution for those considering entering the market now and emphasizes the importance of careful entry points in the volatile world of decentralized trading.
What's Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga's upcoming Future of Digital Assets event on Nov. 19.