Shiba Inu Develops a Bullish Inverse H&S Pattern, with BONK Soaring on ETF Hopes and Topping One Million Holders.

SHIB and BONK Hint at Bullish Reversals as Technical Patterns Emerge

Both Shiba Inu (SHIB) and BONK are showing signs of potential upward momentum, thanks to inverse head-and-shoulders (H&S) formations—an indicator often linked to trend reversals and rallies.

SHIB Gains Ground on Bullish Pattern

Shiba Inu, a prominent meme coin by market cap, posted a 5.2% gain in the past 24 hours, climbing from $0.00001136 to $0.00001195. This price increase coincided with heightened trading activity and a breakout from an inverse H&S structure visible on the hourly chart.

The pattern, typically consisting of three dips with the middle trough being the deepest, points to a possible shift from bearish to bullish sentiment. Strong buying interest established support around $0.00001162, a key level noted during high trading volumes.

“Technical signals are leaning bullish as SHIB remains above crucial support areas,” observed CoinDesk’s AI research.

SHIB Technical Overview:

• Daily change: Up 5.65%, from $0.00001136 to $0.00001200.
• Volume peak: Hit 1.68 billion at 16:00 UTC on July 2, establishing significant support at $0.00001162.
• Volatility window: Between 10:09–11:08 UTC on July 3, SHIB saw a slight 0.41% dip but held above $0.00001195.
• Resistance: The token struggled to maintain levels above $0.0000120 over a five-hour stretch, indicating near-term resistance.
• High-volume spike: Orders surged to 20.94 billion at 11:04 UTC following a bounce from earlier lows.

BONK Rises on ETF Hype and Growing Community

Meanwhile, Solana-based BONK recorded a 23% jump to $0.00001665, emerging as the top performer among the 100 largest cryptocurrencies over the last day.

The rally was fueled by speculation around Tuttle Capital’s proposed 2x Leveraged BONK ETF, which reportedly progressed in regulatory filings. Additional optimism surrounded BONK nearing the significant milestone of one million holders—a notable achievement for the token.

BONK’s price chart also reflected an inverse H&S pattern similar to SHIB’s. Intense buying occurred between 23:00 and 01:00 UTC, with trading volumes approaching 3 trillion tokens during this surge.

BONK Technical Overview:

• Daily rise: Up 17%, moving from $0.0000142 to $0.0000167.
• Price fluctuation: Experienced a 24% intraday swing, facing resistance around $0.0000174.
• Heavy trading: A sell-off at 10:42 UTC resulted in a 7.6% drop on nearly 96 billion tokens traded.
• Volatile period: Between 10:34–11:33 UTC on July 3, BONK slipped 1.35%, from $0.00001689 to $0.00001667.

With both meme coins signaling bullish patterns and attracting significant trading volumes, market participants are watching closely for possible further rallies, provided broader market conditions remain favorable.