Bybit Analyst Bluntz Predicts a Strong Week for Solana (SOL)-Based Memecoin Bonk (BONK)

The pseudonymous analyst tells his 278,100 followers on the social media platform X that Bonk (BONK) looks to be in the midst of a five-wave surge.

A crypto strategist and “Master Trader” on the crypto exchange Bybit says one Solana (SOL)-based memecoin is showing signs of strength despite the recent market correction.

The pseudonymous analyst, known as Bluntz, has 278,100 followers on the social media platform X, where he shares his analysis.

According to Bluntz, a five-wave surge is unfolding for Bonk (BONK). The trader uses the Elliott Wave theory, which suggests that a bullish asset tends to experience a five-wave rally.

Bluntz posts a chart suggesting that BONK will rally to as high as $0.000033.

“Swift post weekly dip here which is ideal, BONK in prime position for a turbo green week, imo.

Parabola soon.”

At time of writing, BONK is trading at $0.000024, up from its 24-hour low of around $0.0000216.

The trader also shares a chart comparing the price performance of BONK against fellow memecoin Pepe (PEPE). Bluntz believes that BONK is setting up to lead over PEPE after printing a bullish higher-low setup on the bonk/pepe chart.

“Looks like the leader torch is being passed from PEPE to BONK.

Higher low being put in on the bonk/pepe chart.”

Bluntz thinks the latest dip sets up the memecoin for the next leg up, according to his chart.

“Still think this PEPE dip is a wave 4 and an absolute gift for the sidelined bros.

Violently higher with haste.”

Based on the trader’s chart, he seems to be predicting that PEPE will rally to $0.000013 before concluding a minor five-wave rally.

At time of writing, PEPE is valued at $0.00001.

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