BONK and FLOKI, two of the most popular meme coins, had a tough week as their values declined in double digits.
However, as the market trend changed, their southward momentum also declined. Does this mean that investors could expect their charts to turn green in the upcoming week?, BONK’s price dropped by more than 17% in the last seven days. FLOKI’s fate was also similar, as its value dipped by over 13% during the same time.
However, the bearish trend seemed to have been coming to an end as the degree of price decline dropped. While BONK’s price dropped only by 1.8% in the last 24 hours, FLOKI’s price dipped by 1.5%. Its Funding Rate increased on the 12th of May. Generally, prices tend to move the other way than the Funding Rate, suggesting that FLOKI’s price might continue to fall.revealed that, like FLOKI, BONK’s Funding Rate also registered an increase in the past few hours.We then analyzed both meme coins’ daily charts to better understand what to expect. Beginning with FLOKI, we found that the meme coin might just be testing the upper trendline support of its bullish flag pattern.
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