Bonk Guy: On-Chain Market Far from Worst, Recovery Expected Relatively Soon

TechFlow reported that on October 27, Bonk Guy posted that recent market pessimism toward on-chain trading (the trenches) has been excessive and the current period is far from the worst in history. He said that over the past four months, about six new tokens have reached market caps of $100 million to more than $300 million, with PONS rising from 0 to about $960 million; FDVs of tokens such as ANSEM, CASHCAT, AI, and STONK have also each reached at least $300 million, while dozens of other new tokens have surpassed $10 million market caps.

He compared the period before the Robinhood chain emerged and the period after TRUMP's launch but before BonkFun's rise, noting that for long stretches the market lacked tokens with clear upside and most projects struggled to exceed market caps of $2 million to $5 million. He believes the market recovery may come faster than most people expect. He also suggested watching for pullback opportunities in high-conviction tokens that performed well in the previous cycle.

Source: TechFlow