Sure. The mechanic of accuracy is the percentage chance you will hit your target and deal 1x damage (not literally, but it works similarly to that I would assume). If the bonfire got good enough aim, it might be able to hit the enemies just right to deal maximal damage (or hit them just right to ignore armor, like real life). This mechanic would allow accuracy to go beyond 100. Another option would be to get rid of the critical chance silver/ gold upgrade and just make the crit chance based on accuracy.
Since this isn't a very good thing to have for most synergies, perhaps you could add a purple effect upgrade that gives you a chance to skip cooldown on the next shot if you get a precise strike (so you fire your next shot immediately after a precise hit lands) Something like:
Chance of 50% to skip fire cooldown on precise strike
Of course, this would still have a tick cooldown so the game doesn't crash, and the chance of this happening could not be increased to keep it from looping, but precise strike chance could get up to 100%, or 1000% accuracy.
