The meme coin market witnessed one of its most brutal crashes this week, sending shockwaves through the crypto community after pseudonymous millionaire trader Unipcs reported a staggering $15 million liquidation.
By Parth Dubey
Editor Yana Khlebnikova
Updated
3 mins read
The crash not only exposed fragility in meme coin liquidity but also highlighted potential opportunities for long-term believers in meme token Bonk (BONK).
Unipcs revealed that he suffered a $15 million loss after extreme volatility wiped out his leveraged positions in Bonk (BONK) and Fartcoin (FARTCOIN).
While Bitcoin (BTC) and Ethereum (ETH) saw moderate declines of around 13%, altcoins and meme tokens plunged by as much as 70%–99% within minutes.
'the LORD gave, and the LORD hath taken away; blessed be the name of the LORD' — Job 1:21
yesterday's liquidation event is the most brutal i've witnessed in my time in crypto
i got wiped out on ALL my perps positions
literally everything
eight figures: $30 million+ at peak… pic.twitter.com/EvOmaZT0rZ
— Unipcs (aka 'Bonk Guy') 🎒 (@theunipcs) October 11, 2025
The event was largely confined to centralized exchanges, suggesting a liquidity or market-maker malfunction rather than a systemic market-wide collapse.
Reports surfaced that stop-loss orders failed, margin additions became impossible, and cascading liquidations accelerated the wipeout.
Despite the loss, Unipcs maintained optimism, stating he would overhaul his trading frameworks, cutting leverage, strengthening risk controls, and safeguarding positions from exchange-level failures.
He remained confident in a potential Q4 recovery rally and the broader crypto cycle’s long-term profit potential.
Bonk (BONK), one of Solana’s most volatile meme tokens, has entered a crucial accumulation phase after an extended downtrend.
As shown in the weekly chart, BONK is trading near the $0.000015 zone, currently forming a descending wedge pattern, a structure often preceding major reversals.
The price recently retested its long-term support between $0.000010–$0.000012, an area that has historically triggered strong rebounds.
The RSI stands around 42, suggesting BONK is nearing oversold territory, while the MACD is flattening, hinting at bearish exhaustion.
Source: TradingView
If bulls defend this key support and BONK breaks above the descending resistance line near $0.000020, the next major target lies at $0.00010, representing a potential 539% rally from current levels.
On the other hand, failure to hold above $0.000010 could trigger another 30–40% correction before long-term buyers step in.
Historically, extreme drawdowns have preceded outsized recoveries once liquidity stabilizes and market sentiment rebounds.
BONK’s association with the Solana ecosystem, combined with rising developer and retail activity, adds a speculative but promising foundation for recovery.
For disciplined investors, this could be a classic “buy-the-dip” setup ahead of a potential market resurgence.
While the BONK buying window might be closing, Snorter Bot ($SNORT) is positioning itself as a fresh addition to the growing world of Telegram-based trading tools, aiming to simplify how users buy, sell, and manage cryptocurrencies.
The bot launches first on Solana, one of the fastest and most cost-efficient blockchains, with plans to expand soon to Ethereum, BNB Chain, and other major networks.
Its goal is to make trading as straightforward as chatting, removing the need for complex browser extensions or third-party wallets.
Notably, the project’s ongoing presale has already attracted $4.6 million, indicating massive community support.
Each $SNORT token is currently priced at $0.1079 with 6 days until the next price increase.
Snorter Bot allows users to create or connect a crypto wallet within seconds, trade tokens instantly, and even set automatic buy and sell orders without ever leaving Telegram.
The platform focuses on both speed and safety, reducing the risk of scams or failed transactions while maintaining one of the lowest fee structures on Solana.
Supporting the ecosystem is the $SNORT token, which powers premium features within the platform.
Holders can enjoy lower transaction fees, access advanced trading tools, and earn staking rewards at 108% per annum!
To buy $SNORT, visit the Snorter Bot official website and once there, connect a supported wallet, like Best Wallet.
You can swap existing crypto or use a debit/credit card to finish your $SNORT token purchase.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
