BONK fell 9.32% to $0.000008805 over the past 24 hours, extending a steep decline that pushed the Solana-based memecoin to new cycle lows.
The decline 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 November 27.
The breakdown began near $0.00000966 and accelerated through 00:00 UTC, with volume rising 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, which defined the low of the day and marked a continuation of the lower-high pattern visible across the 24-hour chart. The trading range around $0.00000142 represented nearly 15% intraday volatility, underscoring the increased sensitivity of high-beta meme assets to technical turning points.
The price stabilized as volume eased, narrowing the move 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, although no decisive reversal was confirmed. The previous $0.00000936 support level now acts as a significant overhead barrier, with temporary resistance expected near $0.00000890 if recovery attempts continue.
Today’s action illustrated a divergence between structural developments – such as ETP availability on a major European exchange – and immediate market behavior, which remained guided by chart-based dynamics and sector-wide weakness.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial staff to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s full AI policy.
