Trader Bought STONK at a $1M Market Cap and Walked Away With $320K Profit

Where the Conviction Came From

Loshmi, who has about 54,000 followers on X, laid out the trade in a long post on Sunday. He said he bought STONK “around 1M marketcap” more than a month ago and kept adding on every dip.

His conviction centered on attention, not revenue projections and at the time, he wrote, Robinhood was “killing” Solana “with attention and memecoins,” leaving Solana “backed against the wall.” His bet was that the Solana ecosystem would have to embrace a product like Stonkfun or watch the crowd move to Robinhood Chain for good.

Stonkfun is a Solana token launchpad that went live on Aug. 3, and STONK is its native token. Its twist is letting creators pair new tokens against tokenized equities instead of SOL or stablecoins, the same idea that had turned Robinhood Chain into a memecoin venue.

The Drawdown Nobody Screenshots

The profit figure was quite obviously the part that traveled, with the post drawing close to 98,000 views within about eight hours. The middle of the story, however, was a little less photogenic.

To elaborate, early on, the trader’s portfolio climbed from $5,000 to more than $25,000, then slid all the way back to $4,000. He said he did not sell, not out of delusion, but because he believed he was early to the STONK ecosystem.

Over the full 30 days, he described watching his portfolio rise to “high 5 figures,” fall below five figures, then recover and drop again. On top of that, he said he was hacked and lost more than $6,000, even though he barely even had any money in the pump wallet.

What Went Right for STONK

On Sept. 6, Stonkfun pulled in roughly $1.5 million in daily protocol revenue and out-earned Pump.fun for a day. By Sept. 11, it had generated $9 million in revenue across 50 days, distributed about $30 million in rewards and burned 14.4% of STONK’s supply, worth more than $40 million, according to Bitcoin.com News.

STONK hit a record $0.343 late last week, and was still up about 1,978% over 30 days on Monday. If his entry figure is accurate, STONK’s current market cap near $189 million is close to 190 times the level where he says he started. The $327,436 covers all of his positions across wallets, though, and he did not break out how much came from STONK alone.

The Exit, and the Tape Since

His stated reason for selling was fatigue, pointing to the “vamping and PVPing” of recent days, crypto slang for copycat token launches and traders competing directly against each other rather than the market.

STONK is changing hands near $0.23, down about 22% in 24 hours. The competitive field is shifting too. Pump.fun launched Custom Pairs on Sept. 10, letting Solana creators pair tokens with 93 assets, including tokenized stocks, with half of that revenue flowing to PUMP buybacks. On Robinhood Chain, one wallet turned $220,000 into $4.7 million on CASHCAT and PONS during the chain’s record-volume week.