Crypto analyst Man of Bitcoin not too long ago offered insights into Bonk’s (BONK) trajectory utilizing the Elliot Wave Principle. As a part of his evaluation, the analyst revealed how excessive the Solana meme coin may rise on its subsequent leg up.
BONK To Rise To $0.000027 On Subsequent Leg Up
In an X (previously Twitter) submit, Man Of Bitcoin predicted that BONK would attain $0.000027 within the third wave of his Elliot Wave evaluation. The analyst famous that BONK already broke above the primary wave of $0.000022, which confirms that it could certainly make such an impulsive transfer to that worth degree.
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BONK seems to have already accomplished the corrective Wave 2 transfer, seeing the way it has recovered from the $0.0000167 worth degree, which the analyst highlighted as the underside throughout this worth correction. Furthermore, from the chart that Man of Bitcoin shared, BONK’s rise to $0.000027 is predicted to occur someday in September.
As soon as that impulsive transfer to $0.000027 is over, BONK is predicted to expertise one other worth correction, dropping to $0.000023 this time round. In the meantime, Man Of Bitcoin supplied a way more bullish prediction for BONK, along with his chart exhibiting that the fifth largest meme coin by market cap will rise to $0.000029 on its fifth wave.
An increase to that worth degree continues to be effectively beneath its present all-time excessive (ATH) of $0.000047, reached in March earlier this 12 months. Nonetheless, there isn’t any doubt that it may attain worth degree once more and even rise greater, particularly with crypto analysts like Quinten François suggesting that the bull run has but to start. It’s price mentioning that BONK hit its ATH across the time Bitcoin hit its ATH of $73,000. As such, BONK may hit a brand new ATH because the flagship crypto reaches a brand new ATH.
Different Bullish Predictions For The Meme Coin
Crypto analyst Jacob Canfield has additionally offered a bullish prediction for BONK, stating that the meme coin’s market cap may attain between $5 billion and $10 billion. He made this assertion based mostly on his bullish outlook for Solana, which he believes can attain a minimal goal of $600 and a most goal of $1,700 in this bull run.
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Crypto analyst Smooth Crypto famous that BONK nonetheless has loads of room to run on this market cycle and predicted that the meme coin may delete two zeros and rise to as excessive as $0.0011. In the meantime, crypto analyst Zer0 acknowledged that BONK has the potential to drag a 20 to 50x earlier than the top of this cycle.
On the time of writing, BONK is buying and selling at round $0.00002072, up over 1% within the final 24 hours, in line with information from CoinMarketCap.
Featured picture created with Dall.E, chart from Tradingview.com
