Renowned cryptocurrency analyst Bluntz foresees a promising week ahead for the Solana-based memecoin Bonk (BONK), despite experiencing some recent market corrections. His insights stem from a combination of technical analysis and prevailing market trends, highlighting a generally optimistic sentiment within the crypto community regarding memecoins.
What Are Bluntz’s Predictions for BONK?
Bluntz communicated to his followers on X that Bonk is currently navigating a five-wave upward trend. Utilizing his expertise in the Elliott Wave theory, he emphasized that assets typically experience a series of five waves during bullish phases, reinforcing his positive expectations for BONK’s trajectory.
How High Can BONK Price Go?
In his analysis, Bluntz illustrated a target price of $0.000033 for BONK. He expressed confidence that BONK would outperform PEPE, asserting, “There was a quick drop on the weekly, which I believe places BONK in an ideal position for a turbo green week.” As of now, BONK trades at $0.000024, having rebounded from a recent low of around $0.0000216.
Bluntz’s commentary also included a nod to PEPE, suggesting that the recent dip could be seen as a wave 4, thereby creating a prime opportunity for new investors. His chart indicates PEPE could edge up to $0.000013, while it currently hovers at $0.00001.
The bullish outlook presented by Bluntz indicates significant trading potential for BONK. Key points from his analysis include:
- Anticipation of a five-wave upward movement for BONK.
- Projected price target of $0.000033 for the memecoin.
- Expectation for BONK to surpass PEPE’s performance.
- Current trading value of BONK shows upward momentum.
Bluntz’s forecasts provide a compelling perspective for traders looking to capitalize on the shifting dynamics in the memecoin sphere, suggesting a potential leadership transition from PEPE to BONK.