Bluntz Predicts 100-130% Gain for BONK as Altcoins Outperform Bitcoin

A widely followed cryptocurrency analyst and trader, known by the pseudonym Bluntz, has shifted to a bullish stance on altcoins. Bluntz shared his perspective with his 322,200 followers on the social media platform X, noting that the Bitcoin dominance (BTC.D) metric is showing a bearish divergence. This divergence suggests that altcoins are poised to outperform Bitcoin.

A bearish divergence occurs when the price of an asset is making higher highs and higher lows, while an indicator like the Relative Strength Index (RSI) is making lower highs. The RSI is a momentum oscillator used to gauge whether an asset is oversold or overbought. Bluntz observed that the three-day BTC.D bear divergence has extended into a weekly bear divergence, indicating that the time to invest in altcoins is favorable.

BTC.D is a metric that measures the proportion of the total crypto market capitalization that belongs to Bitcoin. A bearish BTC.D chart implies that altcoins are gaining value faster than Bitcoin. At the time of writing, BTC.D stands at 65.34%.

Bluntz also provided specific insights into two Solana-based memecoins. He predicted that Bonk (BONK) could more than double in price after breaking out of a descending trendline on the five-day chart. Bluntz expressed confidence that BONK could rise by 100-130%. He also noted that other altcoins similar to BONK are entering uptrends, suggesting a broader bullish trend in the altcoin market.

BONK is currently trading at $0.00001614, up 9.7% in the last 24 hours. Bluntz emphasized that investing in the BONK ecosystem without holding BONK itself is challenging, as the two are closely linked.

Additionally, Bluntz highlighted Useless Coin (USELESS), another Solana-based memecoin, which he believes could reach around $0.50. USELESS is currently in a strong uptrend, with dips being bought up consistently. Bluntz suggested that a $500 million market cap for USELESS is within reach. USELESS is trading at $0.248, down 7.6% in the last 24 hours, with a market cap of $247.5 million, making it the 256th largest crypto project.

Bluntz's bullish outlook on altcoins is supported by the recent surge in BONK's price, which has risen by over 20% and broken through key resistance levels. This bullish momentum is expected to continue, with some analysts predicting that BONK could reach $0.000040 in the near future. The trader's optimism is further bolstered by BONK's token burn plans, which are expected to reduce the circulating supply and potentially drive up the price.

The trader's bullish stance on altcoins comes at a time when the overall crypto market is experiencing a rally, with major altcoins such as ETH, SOL, and ADA seeing significant gains. This increased risk appetite among investors is also reflected in the performance of memecoins like BONK, which have seen over 20% gains in recent days. The trader's positive outlook on BONK is further bolstered by the coin's token burn plans, which are expected to reduce the circulating supply and potentially drive up the price.

The trader's bullish outlook on altcoins is not limited to BONK. They have also updated their outlook on another Solana-based memecoin, which they believe has the potential to surge in the coming months. While the trader did not name the coin, they did mention that it is currently trading at $0.0033 and has the potential to jump by 9000% in 2025. This prediction is based on the trader's analysis of the coin's fundamentals and its potential to gain traction in the memecoin market.

The trader's bullish outlook on altcoins is a reflection of the current sentiment in the crypto market, which is characterized by increased risk appetite and a willingness to invest in high-risk, high-reward assets. This sentiment is further supported by the recent surge in the price of BONK and other memecoins, which have seen significant gains in recent days. As the crypto market continues to rally, it is likely that more investors will turn their attention to altcoins and memecoins, driving up their prices and potentially leading to further gains in the coming months.