Memecoin trader Unipcs wants to ride his tokens to $1 billion.
Some call it lame, while others say it’s just a “loser in our own community buying the top.” Many are rooting for him, however.
A new character has emerged onto the crypto scene, trying to emulate the success of famed financial analyst turned meme stock investor Keith Gill, also known as Roaring Kitty.
Who is Unicps, also known as ‘Bonk Guy’?
Unipcs made waves recently when he posted, “the consensus take is that Roaring Kitty & $GME is done, right?”
Unipcs claimed that instead of selling, he decided to hold his Roaring Kitty-related memecoins. And apparently, it’s been playing out.
‘Bonk Guy’ reappeared yesterday. “I’m up 7 figures on the Roaring Kitty meta today i.e. $GME, $AMC, & $KITTY memes on Solana while many fudded Kitty, I diamond handed & bought more, and I publicly documented my conviction,” he wrote.
His results have some calling him the Roaring Kitty of crypto – a tag that has split the crypto community down the middle.
Roaring Kitty Roars Back
Keith Gill became famous in February 2021 when a defiant group of traders from Reddit decided to start buying up shares of the video game franchise GameStop.
Their goal was to “stick it to the man.”
Wall Street Bets members drove up GameStop’s stock price, disrupting major hedge funds in what’s known as a short squeeze. In such a situation, traders betting against a stock are forced to close their positions or risk liquidation.
The share price reached a high of $483 but subsequently crashed. Gill went quiet in the years that followed until a surprise post on X on May 12 kicked markets into gear again. Even though it didn’t mention GameStop directly, the stock doubled overnight.
Then, crickets. Gill went radio silent for weeks, but the rumors were swirling. Was Roaring Kitty back, and more importantly, what might it mean for a crypto market inundated with memecoins?
On June 2, Roaring Kitty reappeared again, this time with an enigmatic image of a UNO card, followed by a message posted by Gill’s Reddit account. He posted a screenshot titled “GME YOLO Update,” which showed a $200 million position in GameStop.
The stock nearly doubled. And today, he returned to YouTube after nearly three years away. His first livestream drew in 700,000 viewers.
And in what might be one of the strangest moments in this market cycle, CNBC broadcasted that Gill’s livestream was “28 minutes late” but had begun nonetheless.
Crypto’s Roaring Kitty
While Gill has made a name for himself as a memecoin investor and a “man of the people,” his crypto copycat has struggled to rally supporters – even though he does have some.
“Crypto so lame compared to tradfi bros we have bonk guy tryna do the same thing roaringkitty doing with gamestop & half the timeline starts hating on him,” posted Solana-based memecoin investor Zion Thomas, also known as Ansem.
Ansem was met with resistance by other crypto pundits.
“Isn’t the difference that the ‘loser’ in the GME scenario is perceived to be hedge funds positioned short,” asked veteran crypto investor Cobie. “So supporting RK is a community ‘sticking it to the man’ or outsiders, and he is a rallying cry for the little guy to team up against those interests. Whereas the loser in the Bonk scenario is just someone in our own community who buys the top?”
BONK plummeted today amid the controversy.
The token dropped 12% but still commands a $1.8 billion market cap, up nearly 20,000% since September 2023.
Memecoin mania shows no signs of slowing down.
Trump has seen his bags balloon thanks to crypto enthusiasts sending him a hoard of TROG tokens, while musician Iggy Azalea’s memecoin MOTHER skyrocketed to a $200 million market cap today. Other notable celebrities like Caitlyn Jenner have caught the brunt of memecoin scammers but ultimately continue to play the game.
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