Shiba Inu Crafts a Bullish Inverse H&S Setup as BONK Surges Amid ETF Speculation and Celebrates Reaching 1 Million Holders.

SHIB and BONK Signal Potential Upswings with Bullish Chart Patterns

Shiba Inu (SHIB) and BONK are both indicating potential trend reversals, as each displays an inverse head-and-shoulders (H&S) pattern—a classic technical signal often preceding further price gains.

SHIB Climbs on Technical Strength

Shiba Inu, a top meme cryptocurrency by market value, saw its price climb 5.2% over the past day, moving from $0.00001136 to $0.00001195. The rally came amid a spike in trading volume and a confirmed breakout from an inverse H&S pattern visible on the hourly chart.

This formation, marked by three dips with the central low being the deepest, suggests a bullish reversal may be in play. SHIB secured solid support at $0.00001162 as volumes surged, identifying a crucial level for traders to watch.

“Indicators remain bullish, with SHIB maintaining its position above important support levels,” noted CoinDesk’s AI research.

SHIB Technical Summary:

24-hour performance: +5.65%, moving from $0.00001136 to $0.00001200.
Significant volume: Peaked at 1.68 billion at 16:00 UTC on July 2, reinforcing support at $0.00001162.
Volatility period: From 10:09–11:08 UTC on July 3, SHIB dipped 0.41% but stayed above $0.00001195.
Resistance level: The token struggled to stay above $0.0000120 over a five-hour window, signaling potential short-term resistance.
Major order activity: Volume reached 20.94 billion at 11:04 UTC after rebounding from a session low.

BONK Spikes on ETF Buzz and Growing Holder Base

Meanwhile, Solana-based meme coin BONK surged by 23% to $0.00001665, making it the biggest gainer among the top 100 cryptocurrencies over the past 24 hours.

The rise comes amid speculation that Tuttle Capital’s proposed 2x Leveraged BONK ETF is progressing through regulatory procedures. Investor enthusiasm also grew as BONK approached the milestone of one million holders, marking significant growth for the token.

BONK’s hourly chart mirrored SHIB’s bullish structure, showcasing a clear inverse H&S pattern. Heavy buying activity was observed between 23:00 and 01:00 UTC, during which trading volumes jumped close to 3 trillion tokens.

BONK Technical Summary:

24-hour gain: +17%, from $0.0000142 to $0.0000167.
Price range: Experienced a 24% swing, with resistance near $0.0000174.
Intense trading: A sell-off at 10:42 UTC triggered a 7.6% drop on roughly 96 billion in volume.
Volatility period: Between 10:34–11:33 UTC on July 3, BONK dipped 1.35%, moving from $0.00001689 to $0.00001667.

As both tokens signal bullish reversals and witness robust trading volumes, the market could be gearing up for further gains—provided broader conditions remain supportive.