On Sept. 11, trader Bonk Guy responded to criticism from the STONK community over his purchase of EMBER, saying some community members had framed the move as an attempt to challenge STONK’s standing in the launchpad sector. He called that reaction "very exaggerated."
Bonk Guy said STONK’s second-largest holder had previously bought EMBER when the token’s market capitalization was around $2.8 million and remained bullish for several days, yet did not face the same kind of criticism. By contrast, he said he bought EMBER at a valuation roughly six times higher and was then treated as a "villain," which he described as a clear double standard.
Bonk Guy says he is still bullish on STONK
He said he remains positive on STONK. Bonk Guy added that he has long focused mainly on trading low-cap tokens because he believes they offer a better risk-reward profile, and for that reason he rarely buys large-cap tokens even when he is constructive on their outlook.
Addressing the EMBER purchase, he said there was no "PvP" intent behind the trade and that STONK and EMBER could both succeed at the same time. He also argued that the view that only one winner can exist in a given sector runs counter to the nature of the crypto industry.
EMBER market cap passes $40 million
According to GMGN market data, EMBER, the platform token of Solana-based Ember Curve, surpassed a $40 million market capitalization on the day. Ember Curve is a new token issuance platform built on Meteora.
Bonk Guy said he bought EMBER that day, calling it his first Solana ecosystem token purchase in a long time. He described EMBER as one of the token launchpad projects with the best fundamentals at present, adding that its backing from Meteora gives it strong resources and support.
He also predicted that EMBER’s market capitalization would exceed $100 million.
STONK is the platform token of Solana token launchpad StonkFun.