An analyst who knows the 2021 Bitcoin bull market is based in Solana. meme coin He issued a serious warning. According to the analyst, meme coin is facing a market correction.
The analyst, nicknamed Pentoshi, told his 711,700 followers on X. bonk(BONK) could lose half its value within weeks told.
“Within four to six weeks you will be able to purchase BONK at a price 50% lower than its current price. Even if it rises first.”
BONK closed at $0.00000217 on November 15. At the time of writing, it is trading at $0.00002991, up 1.278%.
Another crypto analyst, Michaël van de Poppe, also suggests that BONK may experience a correction soon.
“The bull market hasn’t started yet and BONK is making 200x. Meanwhile, SATS, RATS and similar tokens are also following in BONK’s footsteps. Mental but good signs that market sentiment is changing. Does this mean you should buy these? “If I were you, I wouldn’t buy it at this point.”
According to crypto analysis firm Santiment, discussions about BONK are increasing on social media platforms. Koinfinans.com As we reported, this indicates that the trend may reverse.
“BONK, the hottest meme coin on the block, saw its market cap rise +116% in the past day alone, largely due to its Coinbase listing. BONK jumped from #69 largest asset to #43 in just 12 hours. If you are craving it, be wary of too much crowd FOMO (fear of missing out).”
The company expects the current interest in BONK to increase in 2021. dogecoin (DOGE) says it’s similar to the rumor around it.
“As 2023 comes to a close, these are the short- and long-term time frame issues that are driving the markets. NFTs, BASE and meme coins will likely continue to be in the spotlight through 2024, with BONK gaining ‘2021 Doge’-like attention.”