Crypto analyst Man of Bitcoin recently provided insights into Bonk’s (BONK) trajectory using the Elliot Wave Theory. As part of his analysis, the analyst revealed that BONK could rise to $0.000027 in its next leg up, having already surpassed the first wave of $0.000022.
The analyst highlighted that BONK has completed the corrective Wave 2 move, recovering from $0.0000167, and expects the rise to $0.000027 to occur in September. A subsequent correction could see BONK drop to $0.000023 before rising again to $0.000029.
Other analysts have also given bullish predictions for BONK. Jacob Canfield stated that BONK’s market cap could reach between $5 billion and $10 billion based on his optimistic outlook for Solana. Additionally, Sleek Crypto predicted BONK could delete two zeros in its price, and Zer0 suggested it could achieve a 20 to 50x increase before the end of this cycle.
At the time of writing, BONK is trading at around $0.00002072, up over 1% in the last 24 hours, according to CoinMarketCap.
