There are some intriguing market signals coming from BONK right now. One the one hand, investors' declining open interest confirms a known flight of capital from the futures market.



Open interest fell nearly 20% in the last week, from $13.8 million to $11.1 million, according to data from the Coinglass platform.



Having said that, long positions continue to dominate, as shown by the positive funding rate. The positive trend will counteract the negative impact of the open interest decline if it persists throughout the week.



It is highly likely, according to analysts, that the token price will break through to $0.00004500 or even higher, enabling it to set a new high this year.

$BONK