Lately, top meme-based cryptocurrencies like Shiba Inu (SHIB) and Pepe (PEPE) have been witnessing a rise in their prices. This upward trend appears to have extended to Solana-based meme coin Bonk (BONK)since its price movements have shown signs of a imminent bullish surge. In this regard, a crypto analyst has suggested that Bonk is currently well-positioned for a significant upward move.
Analyst predicts legendary target at $0.000033
Bluntz, a leading crypto trader and analyst, revealed the next upside target for Bonk. In an X (formerly Twitter) publish On September 30, Bluntz revealed that Bonk is currently in prime position for a “turbo green week.”
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He revealed that the meme coin suffered a quick and small price drop during the week. However, the analyst sees this price drop as a positive sign, suggesting it creates an opportunity for Bonk to enter a significantly bullish position, potentially triggering a legendary rally.
Sharing a graph representing Bonk Price Movements Last month, Bluntz indicated on his price chart that the meme coin could experience an accelerated price rise to new highs. Presenting an illustration of his predictions regarding Bonk’s future price movements, the analyst revealed that the meme coin would rise between the range of $0.000028 and $0.000027 before falling to the support level between $0 .000026 and $0.000025.
After that, Bonk is expected to soar to $0.00003 before falling to $0.000028. For his final price increase in his projected green turbo week, Bluntz revealed that Bonk will reach a new maximum price of $0.000033. The analyst also revealed that for Bonk to experience a bullish price breakthe meme coin will have to go through three days of essential sideways trading.
Bonk price is currently trading at $0.00002, reflecting a slight increase of 3.86% over the past week. A jump to the projected highs of $0.000033 would require the meme coin to rise approximately 65% from its current price.
BONK set to surpass PEPE
While maintaining an optimistic outlook on Bonk’s price, Bluntz released that the meme coin may be taking the lead from Pepe’s meme coin. This suggests that, as Bonk is gaining more momentumPepe’s performance is slowing after experiencing a significant price increase.
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The analyst identified a “higher low” on the BONK/PEPE chart, which indicates that Bonk is positioning itself for a stronger price rally than Pepe. Typically, a higher low occurs when the price of a cryptocurrency retreats but maintains its value above the previous low, signaling a possible continuation of an uptrend.
In the case of Bonk, Bluntz revealed that it is currently among the top meme coins, such as Dogwifehat (WIF)and Pepe, which are currently showing signs of strong bullish development. Despite this analysis, cryptocurrency has declined by more than 10% in the last 24 hours.
Featured image created with Dall.E, chart from Tradingview.com