A prominent crypto strategist known as Bluntz, who holds a “Master Trader” rank on the popular crypto exchange Bybit, has recently shared insights on the potential performance of a Solana (SOL)-based memecoin in the coming week. Despite the recent market correction, Bluntz believes that Bonk (BONK) is gearing up for a strong week ahead.
Bluntz, who is an advocate of the Elliott Wave theory, which suggests that a bullish asset typically experiences a five-wave rally, shared with his followers on X that BONK appears to be in the midst of such a surge. He even went on to predict that BONK could rally to as high as $0.000033, based on his analysis.
Currently, BONK is trading at $0.000024, showing an increase from its recent low of $0.0000216. Bluntz also compared the price performance of BONK with another memecoin, Pepe (PEPE), and hinted that BONK might outperform PEPE, given its bullish higher-low setup.
In addition to his analysis on BONK, Bluntz also shared insights on PEPE, stating that the recent dip in its price could be a setup for the next upward movement. He predicted that PEPE could rally to $0.000013 before completing a minor five-wave rally. Currently, PEPE is valued at $0.00001.
Bluntz’s charts and analysis indicate a positive outlook for both BONK and PEPE in the near future. As the crypto market continues to evolve, it will be interesting to see how these memecoins perform in the coming days.
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Image Source: Midjourney