Bonk Guy Loses Approximately $100,000 Trading New Token, Reflects on Overtrading

Major indexes closed lower on October 13 as mixed bank earnings and pressure on chip stocks weighed on sentiment, while Microsoft and Apple both rose to record closing highs. Citigroup fell more than 5% after trading revenue missed expectations. Bitcoin rallied to about $88,000 before stalling, while whale holdings shifted back toward accumulation. Ethereum L2 and privacy tokens strengthened. On October 14, markets will focus on CPI, bank earnings and ASML’s report.

Bitcoin traded near $83,700 and is testing the $84,000–$85,000 cost-cluster zone. In crypto, L2 scaling, ZK modularity, high-performance L1s, gaming and DePIN were relatively active as capital rotated from pure meme trades toward infrastructure narratives. In equities, NVIDIA’s market value is approaching $6 trillion, supported by AI infrastructure demand, while optical modules and fiber names were relatively resilient. Bond markets are closed on October 12 ET for the holiday, while equities trade as normal; the pause in yield pricing may amplify intraday volatility.

The Meteora MET price rose above $0.50 on October 8, 2026, with 24-hour gains reported above 60% on at least one tracker. The move followed the announcement of DLMM Pro, a reported lawsuit dismissal and a surge in trading volume, while Bitcoin and Ethereum edged lower. Overbought indicators and incentive-driven activity are the main reasons the rally could reverse quickly.

Stonk launched Community Coins on October 3, sending 33% of holder rewards from each community-mode meme launch to eligible holders of USELESS, PENGU, ZCAT, ANSEM and NEET. The STONK token itself is not one of those community coins, so its link to the new model is indirect.