BONK Falls 9% as Technical Weakness Dampens Swiss ETP Debut

BONK Falls 9% to Cycle Lows Despite Swiss ETP Launch

BONK, the Solana-based memecoin, slid 9.32% to $0.000008805 over the past 24 hours, reaching fresh cycle lows despite the debut of its first exchange-traded product (ETP) on Switzerland’s SIX exchange last week.

The decline began near $0.00000966 and accelerated past the key $0.00000936 support level around 00:00 UTC. Trading volume surged to approximately 1.79 trillion tokens—about 144% above recent averages—according to CoinDesk Research’s technical analysis model. The coin extended its drop to $0.00000876, continuing a pattern of lower highs and highlighting roughly 15% intraday volatility.

Price later stabilized as volume eased, trading in a narrow range between $0.00000878 and $0.00000885. A brief recovery attempt pushed BONK to $0.00000881 around 14:00 UTC, but no decisive reversal occurred. The former $0.00000936 support now serves as a key resistance, with interim resistance near $0.00000890 if buyers attempt a rebound.

The session illustrates a disconnect between structural developments—such as the ETP listing by Bitcoin Capital AG on Nov. 27—and short-term market behavior, which continues to be driven by technical patterns and sector-wide weakness.