A prominent crypto strategist, Bluntz, has shared bullish predictions about the Solana-based memecoin BONK, despite recent market corrections. According to Bluntz, BONK is currently in a five-wave upward movement, as outlined by the Elliott Wave Theory, presenting a significant opportunity for investors. Here are the details.
Strong Bullish Sentiment for BONK
Bluntz, who has a substantial following of 278,100 on social media, revealed that BONK is poised for a strong rally. He anticipates that BONK could climb as high as $0.000033 in the near term, a significant jump from its current price of $0.000024. Over the past 24 hours, BONK briefly dipped to $0.0000216 but quickly rebounded, reinforcing the strategist’s confidence in its potential.
Bluntz highlighted that the memecoin’s swift recovery points to an impressive week ahead, stating, “Parabolic soon,” signaling a sharp price increase. This forecast has encouraged investors to strengthen their positions in BONK.
Memecoin Showdown: BONK vs. PEPE
In a comparison with PEPE, Bluntz believes that BONK is set to overtake its competitor. Analyzing the charts, he pointed out that BONK is forming higher lows, indicating that it may outperform PEPE, which has shown signs of weakening leadership.
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This shift could mark a major turning point in the memecoin market, with PEPE still holding a large investor base despite its recent declines. However, Bluntz suggests that BONK is showing stronger performance and could attract more attention in the short term.
PEPE’s Bullish Potential
Despite the recent dip, Bluntz remains optimistic about PEPE’s future, noting that its current correction phase presents a buying opportunity. According to the Elliott Wave Theory, PEPE is in its fourth wave correction, with a fifth wave likely to push the price toward $0.000013. At present, PEPE is trading around $0.00001, but Bluntz anticipates a new rally in the near future.
Bullish Outlook for Memecoin Projects
Bluntz’s analysis reveals promising prospects for both BONK and PEPE, sparking excitement among investors. While BONK appears poised to overtake PEPE, the latter still holds significant upside potential despite its recent pullback. Both memecoins should be closely watched in the coming days as their price movements could shape the broader memecoin market.
As always, investors should stay cautious in the volatile cryptocurrency market and assess risks before making decisions. Stay updated with The Bit Journal for the latest market insights.
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The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.
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