BONK fell 9.32% to $0.000008805 over the past 24 hours, extending a sharp decline that pushed the Solana-based memecoin to new cycle lows.
The drop came 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 November 27.
The decline began near $0.00000966 and accelerated until 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 towards $0.00000876, defining the day’s low and marking a continuation of the lower high pattern visible on the 24-hour chart. The trading range of around $0.00000142 accounted for nearly 15% intraday volatility, underscoring the heightened sensitivity of high-beta meme assets to technical turning points.
The price stabilized as volume decreased, reducing the movement to a narrow band between $0.00000878 and $0.00000885. Short-term data showed a slight attempt at a recovery, with BONK forming slightly higher lows around the 14:00 UTC window and briefly rising to $0.00000881, although no decisive reversal was confirmed. The former support level of $0.00000936 now serves as a major overhead barrier, with tentative resistance expected near $0.00000890 should recovery attempts continue.
The day’s action illustrated a divergence between structural developments – such as the availability of ETPs on a major European exchange – and the immediate market performance, which continued to be governed by chart-based dynamics and sector-wide weakness.
Disclaimer: Portions of this article were generated with the help of artificial intelligence tools and were reviewed by our editorial team to ensure accuracy and compliance. our standards. For more information, see CoinDesk’s full AI policy.
