BONK Slides 9% to New Cycle Lows Despite Swiss ETP Launch
BONK, the Solana-based memecoin, fell 9.32% to $0.000008805 over the past 24 hours, hitting fresh cycle lows despite the launch of its first exchange-traded product (ETP) on Switzerland’s SIX exchange last week.
The sell-off began near $0.00000966 and accelerated past the key $0.00000936 support around 00:00 UTC. Trading volume surged to about 1.79 trillion tokens—roughly 144% above recent averages—according to CoinDesk Research’s technical analysis model. BONK continued its decline to $0.00000876, extending a pattern of lower highs and reflecting roughly 15% intraday volatility.
Later, the price stabilized as volume eased, trading between $0.00000878 and $0.00000885. A short-lived recovery pushed BONK to $0.00000881 around 14:00 UTC, but no decisive reversal emerged. The former $0.00000936 support now acts as key resistance, with interim resistance near $0.00000890 if recovery attempts persist.
The session highlights a disconnect between structural milestones, like the ETP listing by Bitcoin Capital AG on Nov. 27, and near-term market dynamics, which remain governed by technical trends and sector-wide weakness.
