With the meme coin craze showing signs of fading, BONK (CRYPTO:BONK) faces the possibility of a bearish turn in its price trajectory.

The dwindling enthusiasm among meme coin investors is evident, reflected in their actions and sentiments.

As macro conditions in the crypto market turn less favorable, optimism among BONK holders seems to be waning, as indicated by a decline in weighted sentiment.

Moreover, the intensifying scepticism is impacting the meme coin's funding rate, with traders withdrawing positive bets, signaling a potential shift towards a bearish market sentiment for BONK.