BONK may have dropped 7% in a day, but it’s still one of the top-performing memecoins this week, with over 50% gains. While some short-term traders may be cooling off, strong Open Interest and rising Funding Rates show that many investors are still betting on BONK’s momentum.

Bonk [BONK] slipped nearly 7% from yesterday’s highs, raising eyebrows across the trading floor.

But zoom out, and the picture is still remarkably bullish. Weekly gains remain impressive, suggesting this may be less of a reversal and more of a healthy breather.