Unipcs, the millionaire trader known as ‘BONK guy,’ recently shared his journey and insights into meme coin trading, particularly his long-term position in Bonk (CRYPTO: BONK).

What Happened: Unipcs elaborated on his approach in a post on X, holding BONK for 13 months and incurring $1.9 million in fees while also achieving major success trading Dogecoin (CRYPTO: DOGE). He also mentioned his successful trade with the Department of Government Efficiency (DOGE) meme coin, where he turned six figures into $6.6 million.

He highlighted that meme coin trading isn’t “easy money” as often glamourized. It requires endurance through intense volatility. Notable meme coins like Dogecoin and Shiba Inu (CRYPTO: SHIB) took months or years to hit their peaks, he said, underscoring the need for long-term conviction.

Also Read: Millionaire Trader Up Over $4 Million With DOGE And MAGA Coins — But The DOGE Coin Isn’t What You Think It Is

Why It Matters: Unipcs’ experience offers a realistic view of meme coin trading, emphasizing patience over quick gains. He noted that most big wins in meme coins are achieved by traders willing to hold through ups and downs rather than seeking overnight success.

The trader cautioned the risks associated with meme coin trading. He stated that many meme coins will eventually die or depreciate significantly.

Unipcs remains optimistic about BONK’s potential, citing its listing on platforms like Coinbase and Upbit, strong buy pressure from BonkBot, and rumors of a Robinhood U.S. listing. He also sees BONK’s prolonged consolidation as a setup for a potential rally.

What’s Next: The influence of meme coins is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

Read Next: 

• ‘Meme Coin Supercycle’ Means 13 Out Of Top 20 Outperforming Tokens Are Memes: Will Shiba, Dogecoin Be First To Reach $100B?

Image: Shutterstock