Question to more experienced trades here. I been holding some Bonk for a while and last 24hours it's on a real down fall, so some hours ago I swapped all my Bonk to USDC to save me from more loss and if I am lucky I can buy back Bonk later and even coming out with more Bonk from this situation. Was this a smart or stupid move? I am not sure but I just followed my intuition (The swap fee was under 1%).
You did what you had in mind already, I think this question is damage control but I think Bonk was airdrop to Solana holders last year if I remember correctly, where you holding since that time or you bought when the price was low and have you been in profit since you bought it?
I don't know much about Bonk but I know a little details about the coin, it was first distributed by some group of some solana developers that were trying to create PEPE meme version on Solana and because solana was also in a lot of controversial news due to FTX, the team the community were fighting back the dump of Solana and that is how Bonk meme was born and people fomo and I think lots of Solana bag holders were compensiated, that is little I know about the coin.
If you ask me about the future and certainty of price discovery of Bonks, I will say "I can't say because meme coins don't have direction and it is upto what the community brings to the table, they may bring another hype that will bring the price up or something that may bring the price further down. However, why don't you like to invest in coins that are atleast with a working products and not some shitcoins that will always give heartache.