BONK news: Here’s why a short-term dip won’t stop its 51% rally

Key Points

1. BONK dropped 7% in 24 hours but still shows over 50% weekly gains, making it one of the top-performing memecoins.

2. Open Interest (OI) for BONK Futures was $54.7 million, indicating sustained trader interest and risk appetite.

3. Funding Rates surged to 0.0329, suggesting short-term volatility but continued bullish sentiment.

4. Total Derivatives Volume dropped by 41% to $929.37 million in 24 hours, hinting at exhaustion among intraday traders.

5. BONK outperformed other memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB), with newer tokens like Pudgy Penguins (PENGU) and Official Trump (TRUMP) also posting gains.