Shiba Inu Forms Bullish Inverse Head-and-Shoulders Pattern While BONK Rallies on ETF Buzz and Hits One Million Holders.

SHIB and BONK Signal Bullish Reversals with Inverse Head-and-Shoulders Patterns

Both Shiba Inu (SHIB) and BONK are flashing bullish reversal signals, with each forming classic inverse head-and-shoulders (H&S) patterns — a technical structure that often precedes sustained upward momentum.

SHIB Breaks Out on Bullish Setup

Shiba Inu, one of the leading meme coins by market cap, rallied 5.2% over the last 24 hours, jumping from $0.00001136 to $0.00001195. The move coincided with a volume surge and a confirmed breakout from an inverse H&S formation on the hourly chart.

This pattern — characterized by three troughs with the middle one being the lowest — suggests the token may be entering a new bullish phase. SHIB found solid support at $0.00001162 during the spike in trading volume, establishing it as a key level going forward.

“Technical indicators continue to favor bulls, with SHIB trading firmly above new support zones,” CoinDesk’s AI research noted.

Key Technical Highlights (SHIB):

24-hour gain: 5.65%, rising from $0.00001136 to $0.00001200.
Volume spike: 1.68 billion at 16:00 UTC on July 2, forming high-volume support at $0.00001162.
Volatility window: Between 10:09–11:08 UTC on July 3, price dipped 0.41% but held above $0.00001195.
Resistance zone: Price struggled to hold above $0.0000120 during a 5-hour trading window (05:00–10:00 UTC), indicating a new near-term ceiling.
Massive order activity: 20.94 billion in volume at 11:04 UTC, following a rebound from the session low.

BONK Surges on ETF Speculation, Nears 1M Holders

Meanwhile, Solana-based meme token BONK soared 23% to $0.00001665, making it the top performer among the 100 largest cryptocurrencies by market cap over the past 24 hours.

The surge follows speculation around Tuttle Capital’s 2x Leveraged BONK ETF proposal, which reportedly made procedural progress this week. Momentum was further bolstered as BONK neared the 1-million-holder milestone — a significant adoption landmark for the memecoin.

Like SHIB, BONK’s hourly chart showed a clear inverse H&S formation, with the most aggressive buying happening between 23:00 and 01:00 UTC, where trading volume spiked to nearly 3 trillion units.

Key Technical Highlights (BONK):

24-hour gain: 17%, from $0.0000142 to $0.0000167.
Price range: 24% swing with resistance seen around $0.0000174.
Heavy trading activity: Sell-off at 10:42 UTC pushed prices down 7.6% on volume of nearly 96 billion.
Volatility window: Between 10:34–11:33 UTC on July 3, price dipped 1.35% from $0.00001689 to $0.00001667.

With both meme coins forming technically significant reversal patterns and enjoying strong trading volumes, the stage may be set for extended rallies — assuming broader market conditions remain favorable.