BONK slipped 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 decline occurred despite a major milestone for the asset last week: Bitcoin Capital AG listed the first exchange-traded product (ETP) BONK on the Swiss exchange SIX on November 27.
The breakdown began near $0.00000966 and accelerated until 00:00 UTC, where volume reached around 1.79 trillion tokens – around 144% above recent averages – as BONK fell through the key support area of $0.00000936, according to CoinDesk Research’s technical analysis data model.
The decline extended to $0.00000876, setting the day’s low and marking the continuation of the lower highs trend seen on the 24-hour chart. The trading range of around $0.00000142 represented intraday volatility of almost 15%, highlighting the increased sensitivity of high-beta meme assets to technical inflection points.
The price stabilized as volume decreased, narrowing the movement to a narrow band between $0.00000878 and $0.00000885. Short-term data showed a slight attempt at recovery, with BONK forming slightly higher lows around the 14:00 UTC window and briefly climbing back up to $0.00000881, although no decisive reversal was confirmed. The former support level of $0.00000936 now serves as an important overhead barrier, with intermediate resistance expected near $0.00000890 if recovery attempts continue.
The day’s action illustrates a divergence between structural developments – such as the availability of ETPs on a major European exchange – and immediate market behavior, which remains governed by chart-based dynamics and overall sector weakness.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance. our standards. For more information, see CoinDesk Comprehensive AI Policy.
