Solana-Based Altcoin That’s Rallied Over 1,200% Primed To Crash ‘Within Four to Six Weeks,’ Says Top Analyst

A dealer who nailed the highest of the 2021 Bitcoin (BTC) bull market is warning of a extreme market correction for one Solana (SOL)-based memecoin.

Pseudonymous analyst Pentoshi tells his 711,700 followers on the social media platform X that Bonk (BONK) may lose half its worth inside weeks.

“You’ll be able to buy BONK 50% lower than its current price within four to six weeks. Even if it goes higher first.”

BONK closed at $0.00000217 on November fifteenth and is buying and selling at time of writing for $0.00002991, a 1,278% acquire.

Fellow crypto analyst Michaël van de Poppe can be suggesting that BONK may quickly right.

“The bull market is barely under way and BONK is doing a 200x. In the meantime, SATS, RATS and similar tokens are following BONK in their footsteps. Mental, but good signs that the market sentiment has shifted. Does it mean you should buy these? I wouldn’t at this point.”

In accordance to crypto analytics agency Santiment, discussions about BONK on social media platforms are hovering, which may sign an imminent pattern reversal.

“The hottest memecoin on the block, BONK, saw its market cap grow +116% in the past day alone, largely due to its Coinbase listing. BONK has jumped from the #69 largest asset to #43 in just 12 hours. If longing, be cautious of too much crowd FOMO (fear of missing out).”

Supply: Santiment/X

The agency says that the present curiosity in BONK is comparable to the excitement round Dogecoin (DOGE) in 2021.

“As 2023 winds down, these are the short-term and long-term timeframe topics that are driving markets. NFTs (non-fungible tokens), BASE, and memecoins will very likely continue to be a point of interest going into 2024, and BONK is having ‘2021 Doge’ like attention.”

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