Crypto
STONK Trader Rides 1,978% Gain, Sells Out Due to Crypto Market Fatigue
A trader with about 54,000 followers on X bought STONK, the native token of Stonkfun, when its market cap was around $1 million.
The trader kept adding to his position every time it dipped and held onto it even after a significant drawdown, saying he believed in being early to the ecosystem.
Over 30 days, STONK's price rose from nearly zero to over $0.343, a gain of more than 1,978%.
The trader reported watching his portfolio rise and fall multiple times during this period, even experiencing a hack that cost him over $6,000.
In the end, he sold STONK at $0.23 due to fatigue from recent 'vamping and PVPing' in the crypto market, where copycat token launches and direct competition were on the rise.