Crypto analyst Man of Bitcoin recently shared his analysis of the trajectory of Bonk (BONK) coin using the Elliot Wave Theory. According to his prediction, BONK is expected to reach $0.000027 in the third wave of the Elliot Wave analysis. The analyst highlighted that BONK has already surpassed the first wave at $0.000022, indicating the potential for a significant price increase. He also pointed out that BONK seems to have completed the corrective Wave 2 move, bouncing back from the $0.0000167 price level.
Following the expected rise to $0.000027, Man of Bitcoin anticipates another price correction for BONK, with a potential drop to $0.000023. However, his bullish prediction suggests that the meme coin could surge even higher to $0.000029 on its fifth wave. Despite this positive outlook, BONK’s ATH of $0.000047 in March this year remains significantly higher than these projected levels.
Crypto analyst Jacob Canfield shared an optimistic view on BONK, speculating that the coin’s market cap could soar to between $5 billion and $10 billion. This forecast is based on Canfield’s bullish outlook for Solana, with a minimum target of $600 and a maximum target of $1,700 in the current bull run. Additionally, Sleek Crypto suggested that BONK still has room for growth in the market cycle, potentially climbing to $0.0011 by shedding two zeros.
Market Trends and Potential ATH
The overall sentiment surrounding BONK remains positive, with experts like Quinten François indicating that the current bull run may not have reached its peak yet. The coin’s ATH of $0.000047 coincided with Bitcoin’s ATH of $73,000, suggesting a possible correlation between the two assets. As Bitcoin continues to set new records, there is a strong possibility that BONK could achieve a new ATH in the future.
While expert predictions vary, the consensus is that Bonk (BONK) coin has the potential for significant growth in the near future. With ongoing market trends and positive sentiment from analysts, investors and traders alike may want to keep a close eye on BONK’s performance as it navigates through various price waves and corrections in the volatile crypto market.