BONK About To Enter 3rd Wave, Analyst Reveals Next Target

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As a seasoned crypto investor with over a decade of experience under my belt, I have learned to take every prediction with a grain of salt but still find intrigue in what the analysts are saying about Bonk (BONK). Man of Bitcoin’s analysis using the Elliot Wave Theory is particularly interesting, as he predicts BONK could rise to $0.000027 on its next leg up.

Bitcoin expert Man of Crypto has shared predictions about the future path of Bonk (BONK), utilizing the Elliot Wave Theory. In this analysis, he also hinted at potential heights that the Solana meme token might reach during its upcoming upward trend.

BONK To Rise To $0.000027 On Next Leg Up

On a recent post (previously Twitter), Man of Bitcoin forecasted that token BONK could potentially rise to approximately $0.000027 in the third phase of his Elliot Wave projection. The analyst emphasized that BONK had already surpassed the initial wave’s threshold of $0.000022, indicating a strong possibility for it to indeed advance towards that predicted price level in an impulsive manner.

It appears that BONK may have already finished its Wave 2 correction, considering it has rebounded from the $0.0000167 price point, which the analyst predicted as the lowest during this market adjustment. Furthermore, based on the chart shared by Man of Bitcoin, an anticipated rise in BONK to around $0.000027 is expected within September.

After my impulsive move to $0.000027 concludes, I anticipate that BONK will undergo another price correction, dipping down to approximately $0.000023. Concurrently, Man Of Bitcoin presents a more optimistic outlook for BONK, suggesting that the fifth largest meme coin by market cap could potentially reach $0.000029 during its fifth wave.

A rise to that price level is still well below its current all-time high (ATH) of $0.000047, reached in March earlier this year. However, there is no doubt that it could reach price level again and even rise higher, especially with crypto analysts like Quinten François suggesting that the bull run has yet to begin. It is worth mentioning that BONK hit its ATH around the time Bitcoin hit its ATH of $73,000. As such, BONK could hit a new ATH as the flagship crypto reaches a new ATH. 

Other Bullish Predictions For The Meme Coin

Crypto analyst Jacob Canfield has also provided a bullish prediction for BONK, stating that the meme coin’s market cap could reach between $5 billion and $10 billion. He made this statement based on his bullish outlook for Solana, which he believes can reach a minimum target of $600 and a maximum target of $1,700 in this bull run. 

Crypto analyst Sleek Crypto noted that BONK still has plenty of room to run in this market cycle and predicted that the meme coin could delete two zeros and rise to as high as $0.0011. Meanwhile, crypto analyst Zer0 stated that BONK has the potential to pull a 20 to 50x before the end of this cycle. 

Currently, BONK is approximately valued at $0.00002072 per unit, representing a rise of more than 1% within the past 24 hours, as indicated by information gathered from CoinMarketCap.

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2024-08-26 14:46