Crypto analyst Man of Bitcoin recently shared insights into Bonk’s trajectory using the Elliot Wave Theory. According to him, BONK is expected to reach $0.000027 in the third wave of his Elliot Wave analysis. He highlighted that BONK has already surpassed the first wave of $0.000022, indicating a potential impulsive move to that price level. The corrective Wave 2 move seems to have been completed as BONK bounced back from the $0.0000167 price level, which was identified as the bottom of the correction. Man of Bitcoin’s chart suggests that BONK might reach $0.000027 by September.
Once BONK hits $0.000027, it is likely to undergo another correction and drop to $0.000023. However, Man of Bitcoin has a more bullish prediction for BONK, anticipating a rise to $0.000029 in the fifth wave. Despite this positive outlook, the current ATH of $0.000047, achieved in March, still remains a significant distance away. Nevertheless, with analysts like Quinten François suggesting that the bullish trend has yet to kick in, another ATH could be in store for BONK. It’s interesting to note that BONK’s previous ATH coincided with Bitcoin’s ATH of $73,000, hinting at a possible correlation between the two.
Jacob Canfield, another crypto analyst, believes that BONK’s market cap could surge to between $5 billion and $10 billion. He bases this prediction on his positive outlook for Solana, which he thinks could reach a target range of $600 to $1,700 during this bull run. Similarly, Sleek Crypto is optimistic about BONK’s future, suggesting that the meme coin could potentially eliminate two zeros and rise to as high as $0.0011 in this market cycle. This indicates that there is still significant upside potential for BONK in the coming months.
Various crypto analysts have provided bullish forecasts for Bonk, indicating that the meme coin could experience significant price appreciation in the near future. With technical analysis and market conditions pointing towards further growth, it will be interesting to see how BONK performs in the upcoming months. Investors and enthusiasts alike will be closely monitoring these developments to see if BONK can reach new price milestones and potentially surpass its previous ATH.
