Crypto trader BonkGuy said a 2023 BONK trade using 6x leverage (borrowed exposure that magnifies gains and losses) grew $16,000 into a position worth more than $20 million. He later said a $6,000 WIF position reached about $1.4 million, while trades in Fartcoin, POPCAT and PNUT produced additional million-dollar-level gains. BonkGuy said most of the profits from those meme coins (tokens often driven by online communities and speculation) were ultimately lost during the 10/10 market.