BONK Slides 9% as Technical Breakdown Overshadows Swiss ETP Debut

BONK slid 9.32% to $0.000008805 during the last 24 hours, extending a steep decline that pushed the Solana-based memecoin to fresh cycle lows.

The drop unfolded despite a notable milestone for the asset last week: Bitcoin Capital AG listed the first BONK exchange-traded product (ETP) on Switzerland’s SIX exchange on Nov. 27.

The breakdown began near $0.00000966 and accelerated through 00:00 UTC, where volume spiked to approximately 1.79 trillion tokens — about 144% above recent averages—as BONK fell through the key $0.00000936 support zone, according to CoinDesk Research’s technical analysis data model.

The decline extended toward $0.00000876, defining the day’s low and marking a continuation of the lower-highs pattern visible across the 24-hour chart. The trading range of roughly $0.00000142 represented nearly 15% intraday volatility, underscoring the heightened sensitivity of high-beta meme assets to technical inflection points.

Price stabilized as volume tapered, narrowing movement to a tight band between $0.00000878 and $0.00000885. Short-term data showed a mild recovery attempt, with BONK forming slightly higher lows around the 14:00 UTC window and briefly ticking up to $0.00000881, though no decisive reversal was confirmed. The former $0.00000936 support level now serves as a significant overhead barrier, with interim resistance expected near $0.00000890 should recovery attempts continue.

The day’s action illustrated a divergence between structural developments — such as ETP availability on a major European exchange — and immediate market behavior, which remained governed by chart-based dynamics and sector-wide weakness.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.