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Recently, top meme-based cryptocurrencies like Shiba Inu (SHIB) and Pepe (PEPE) have been seeing their prices rise. This bullish trend seems to have extended to Solana based meme coin Bonk (BONK)as price movements have been showing signs of the upcoming bullish uptrend. In this regard, the crypto analyst suggested that Bonk is currently in a good position for a significant upward movement.
Analyst Predicts Fantasy Target At $0.000033
Bluntz, a famous crypto trader and analyst revealed the next target for Bonk. At X (formerly Twitter) posted on September 30, Bluntz revealed that Bonk was at the top of the “green church.”
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He revealed that the meme coin had a quick and small price drop during the week. However, the analyst sees this price drop as a positive sign, suggesting that it creates an opportunity for Bonk to enter a strong position, potentially triggering a popular rally.
Sharing an illustrative chart Bonk price movements since last month, Bluntz has indicated in his price chart that the meme coin may have an accelerated price increase to new highs. Presenting an illustration of his predictions for the future price movement of Bonk, the analyst revealed that the meme coin will rise between the range of $0.000028 and $0.000027 before falling to the support level between $0.000026 and $0.000025.
After this, Bonk is expected to rise to $0.00003, before returning to $0.000028. With his last price increase in his weekly green streak, Bluntz indicated that Bonk will reach a new high of $0.000033. The analyst also pointed out that for Bonk to feel a bullish price breakoutmeme coin will have to trade in three important days.
Bonk price is currently trading at $0.00002, representing a slight increase of 3.86% over the last week. A jump to the hypothetical high of $0.000033 would require the meme coin to rise by about 65% from its current value.
BONK Set To Overrun PEPE
While maintaining an optimistic view of Bonk’s value, Bluntz revealed that the meme coin may have removed the leadership of the meme coin from Pepe. This suggests that as Bonk is to get more momentumPepe’s performance is slowing down after receiving a significant price increase.
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The analyst has identified a “higher low” on the BONK/PEPE chart, indicating that Bonk is positioning itself for a stronger price rally than Pepe. Generally, a high decline occurs when the price of a cryptocurrency retreats but maintains its value above its previous low, indicating a possible continuation of the rise.
In the case of Bonk, Bluntz revealed that he is currently among the top meme coins as Dogwifhat (WIF)and Pepe which is currently showing signs of strong bullish development. Despite this analysis, cryptocurrency is down more than 10% in the last 24 hours.
The featured image was created with Dall.E, a chart from Tradingview.com