According to a prominent millionaire meme coin trader, the recent bounce in meme coins is just the beginning as an "explosive parabolic move is yet to come."
What Happened: Trader Unipcs shared an update on his Fartcoin (CRYPTO: FARTCOIN) position. noting that it has been three months since his last profit and loss (PnL) post.
Back in June, the position stood at an unrealized profit of $4.5 million, down from a peak of over $8 million.
Today, his PnL sits at around $4.3 million, which is only slightly lower than before.
For the past few months, the PnL has largely ranged around the $4 million mark. However, this doesn't account for the nearly $933,000 already paid in funding.
Looking forward, Unipcs believes meme coins are on the verge of a parabolic rally, especially those within the Solana (CRYPTO: SOL) ecosystem.
He plans to hold until his trade surpasses $10 million in value and expect that milestone will be reached soon.
He concluded that the explosive move in meme coins hasn't happened yet, but it's coming — and conviction holders should stay the course.
Also Read: Dogecoin Eyes ‘Impressive Rally’ On DOJE ETF Launch, But There’s Reason To Be Cautious
Why It Matters: Despite criticism from others urging Unipcs to take profits, the trader emphasizes his strategy which is not being a short-term or volatility-driven trader.
Instead, he plans to focus on undervalued assets, build a thesis, and hold with conviction until that thesis plays out.
His conviction picks: Fartcoin, Useless, and Bonk (CRYPTO: BONK) – the last of which he calls his "signature trade." Notably absent from his list: Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB).
Read Next:
Image: Shutterstock
