Bonk Guy Says On-Chain Opportunities Remain Despite Weak Sentiment

Trader Bonk Guy said Oct. 27 that on-chain token opportunities persist despite gloomy sentiment, pointing to recent launches that reached market capitalizations of $100 million or more.

About six new tokens reached market capitalizations from $100 million to more than $300 million over the past four months, he said. Dozens of others exceeded $10 million in fully diluted valuation. He named PONS, ANSEM, CASHCAT, AI and STONK as tokens that each reached at least $300 million in fully diluted valuation.

Bonk Guy said market conditions had weakened from the broad rally several months earlier, while individual tokens still sometimes post sharp gains. He described the current market as less depressed than the period before Robinhood Chain appeared and the stretch between last year’s TRUMP token launch and BonkFun’s early growth.

He said the market could recover soon, potentially faster than many expect. The post followed an Oct. 24 valuation of his portfolio at $8.9 million, $18.7 million below the Sept. 6 peak, a decline detailed in an earlier account of his portfolio’s drop.