Solana’s flagship memecoin BONK price pushed higher on Monday, inching toward a well-watched ceiling at $0.000010 as activity picked up across major venues. CoinDesk reported intraday gains to about $0.00000954 alongside a sharp expansion in turnover, putting the token back within striking distance of a psychologically important round number that bulls have repeatedly struggled to reclaim.
Price action: testing an old line in the sand
The $0.000010 area has been a frequent pivot over the past two weeks—tagged, briefly reclaimed, and surrendered again as momentum faded. Daily prints compiled by CoinGecko show BONK closed above one cent-milli (0.000010) as recently as Dec. 3, then slipped below the mark on subsequent sessions, underscoring how supply continues to meet price near that zone. At Monday’s Asia close, CoinGecko’s historical table still showed a narrow, choppy range into Dec. 7–8.
CoinDesk’s market desk framed today’s move as a volume-led advance capped beneath resistance. The outlet flagged a pickup in token turnover as prices approached the $0.000010 wall—exactly the setup technicians look for when gauging whether a breakout is building or simply running into another lower high.
Volume is the tell
For highly narrative assets like BONK, participation matters as much as price. After a soft start to December (with multiple sub-$0.00001 closes in CoinGecko’s feed), today’s rebound came with stronger activity, a constructive change of character even if the chart hasn’t yet cleared resistance on a closing basis. Traders will watch whether volumes stay elevated on up-days and contract on pullbacks—a healthy signature in trending markets.
Context helps here: BONK has traveled a long arc since its manic 2024 run. It’s still far below its all-time high on most trackers, but remains an order of magnitude above bear-market lows—classic memecoin beta that expands and contracts with liquidity across the Solana ecosystem. Live dashboards also show how quickly market cap and turnover swing intraday, a reminder to size positions carefully in thin order books.
Why the Swiss ETP matters
One fundamental backdrop to the latest attention is BONK’s move into traditional finance rails. In late November, issuer Bitcoin Capital launched a regulated BONK ETP on Switzerland’s SIX Swiss Exchange, allowing brokerage accounts to get exposure without self-custody. Structured products coverage and ETF trade press confirmed the listing, which gives BONK a foothold with investors who can’t—or won’t—trade on crypto-native venues.
Still, listings don’t always translate to immediate price strength. In fact, a Dec. 1 CoinDesk note documented a 9% slide after the debut as the chart broke support amid risk-off flows—evidence that structural access is a tailwind, not a timing signal. Today’s rebound, by contrast, appears to be technically driven with fresh volume near resistance rather than a reaction to a single headline.
Solana’s liquidity loop remains decisive
BONK is tightly coupled to Solana-native risk appetite. When Solana’s throughput-heavy DeFi, perps, and retail flows are humming, BONK often benefits from liquidity spillovers; when SOL cools, memecoins typically feel it first. That link cuts both ways: BONK’s bursts of activity can feed volumes into Solana DEXs and market-makers, tightening spreads and inviting short-term traders back to the tape. The upshot for today’s set-up is simple—watch SOL and Solana DeFi usage as much as BONK’s own tape to understand whether a break over $0.000010 can stick. (For reference pricing and market cap baselines, CoinGecko’s BONK page remains a reliable, broadly used tracker.)
Levels to watch—and what would confirm a breakout
- Immediate resistance: $0.000010. Multiple intraday forays have stalled here; bulls want a daily close above the figure with sustained volume. CoinDesk’s latest read shows the market pressing just beneath this line.
- Recent supply zone: The Dec. 3 close slightly above the threshold ($0.00001004 on CoinGecko) marked the last clean attempt to hold the level. Reclaiming and building a base above that prior close would strengthen the case.
- Near-term support: Late-week closes between $0.0000090–0.0000094 form a logical first defense; losing that area on heavy volume would argue the move was another lower high in an unresolved range.
In practical terms, a credible breakout looks like: (1) a push through $0.000010, (2) follow-through beyond the prior local high, and (3) rotation of volume from perpetuals and fast money into spot accumulation. Without those, the risk of another fade remains high.
The story behind “more volume”
Beyond spot markets, BONK’s exposure is broadening. The SIX-listed ETP expands the potential buyer base, even if the majority of liquidity is still crypto-native. Issuer and industry outlets describe the ETP as fully regulated and tradable like a stock—useful for institutions with mandates that prohibit direct token exposure. That said, liquidity in ETPs tends to concentrate over time; today’s on-chain volumes are still the best barometer of near-term price path.
What could spoil the rally
Two risks stand out. First, failed breakouts are common around round numbers; wicks above $0.000010 that close back below suggest supply remains dominant. Second, memecoin tapes can overreact to isolated headlines and social momentum, which means traders should prioritize execution data (order-book depth, slippage, and spreads) over narratives. CoinDesk’s prior coverage of BONK’s post-ETP slide is a timely reminder that structural milestones don’t override technicals in the short run.
Conclusion
Today’s move checks the right boxes—price pressing resistance, volume expanding—but BONK still needs confirmation to flip the $0.000010 area into support. The SIX Swiss Exchange ETP is a medium-term positive for access and awareness, yet near-term direction likely hinges on whether Solana-wide liquidity keeps improving and whether buyers can absorb supply at this familiar ceiling. If the token can close and hold above last week’s pivot with healthy participation, technicians will have a cleaner case that a new leg higher is in play. Until then, chop with upside attempts remains the base case.