Bonk Guy: Most popular tokens have dropped over 50%, but don't sell high-conviction positions due to short-term weakness

PANews reported on September 24 that Bonk Guy posted on X saying recent market movements have largely matched his earlier expectations. Over the past two weeks, on-chain markets have been relatively volatile, with momentum clearly cooling compared to the strong performance of the previous one to two months. Aside from a few assets like USELESS and STONK, most previously popular tokens have now declined, with some falling more than 50%, and newly issued tokens have performed especially poorly.

Bonk Guy said investors are currently being forced to sell high-conviction positions due to market weakness, and this is precisely the stage where it is easiest to waver. In his view, the truly difficult part is not buying when the market is rising, but continuing to hold and buying the dip when the market sinks into dullness and pain. Bonk Guy still regards the fourth quarter as the key focus and believes the past few months were merely the prelude to the market. If the market continues to rise over the coming weeks as he expects, investors who sell high-conviction positions now may regret it.