Shiba Inu’s Bullish Inverse H&S Pattern Sparks Rally as BONK ETF Hype Hits Fever Pitch – 1M Holders Locked In

Shiba Inu carves a textbook inverse head-and-shoulders pattern—just as the memecoin crowd starts frothing over BONK's ETF speculation. Meanwhile, SHIB's 1 million holder milestone gets Wall Street's algos twitching. Cue the 'when lambo?' tweets.

Technical breakout or hopium overdose? The chart doesn't lie: SHIB's setup screams bullish reversal, with neckline resistance at $0.000018 looking increasingly fragile. Retail's piling in while institutional desks pretend not to notice—until they quietly front-run the move, naturally.

BONK steals the narrative spotlight though, with traders betting a dog-themed ETF approval could actually happen. Never mind that the SEC still thinks 'blockchain' is a skiing term. The 1 million holder club? Just proof that greater fools theory remains crypto's most reliable indicator.

Watch the 200-day MA. Break that, and even the diamond-handed bagholders from 2021 might finally break even. Until then? Enjoy the volatility—and maybe hedge with some actual assets.

Key AI insights

• SHIB demonstrated remarkable strength during the 24 hours from July 2, 12:00 to July 3, 11:00, climbing from $0.00001136 to $0.00001200, representing a 5.65% gain with a price range of $0.00000081.
• The token experienced a significant volume spike at 16:00 on July 2 (1.68B), establishing a high-volume support level at $0.00001162.
• The 24-hour volume profile confirms strong buyer interest, particularly during the European trading session.
• During the 60 minutes from 3 July 10:09 to 11:08, SHIB experienced notable volatility, initially trading at $0.00001204 before declining to $0.00001199, representing a 0.41% decrease.
• A significant volume spike occurred at 10:18 (15.01B), followed by an even larger spike at 11:04 (20.94B), coinciding with a price recovery from the session low of $0.00001195 at 10:50.
• The 5-hour period between 05:00 and 10:00 on July 3 saw sustained trading above $0.0000120, forming a new resistance zone.

BONK surges

BONK, a memecoin built on the Solana blockchain in late 2022, has surged 23% to $0.00001665 in the past 24 hours, becoming the best-performing top 100 cryptocurrency by market value.

According to CoinDesk's AI, the rally featured three distinct waves, with the most aggressive buying occurring between 23:00 and 01:00, when volume peaked at nearly 3 trillion units, establishing a high-volume support zone around $0.0000161.

The cryptocurrency also approached a one-million holder milestone. These bullish developments follow reports that Tuttle Capital’s proposed 2x Long BONK ETF has taken a procedural step forward.

Speaking of technical analysis, BONK's hourly price chart displays a SHIB-like inverse head-and-shoulders bullish reversal pattern.

Key AI insights

• BONK-USD demonstrated remarkable strength over the 24 hours from 2 July 12:00 to 3 July 11:00, surging from $0.0000142 to $0.0000167, representing a 17% gain.
• A significant price range of $0.00000345 (24%) was observed, with strong volume-supported resistance at the $0.0000174 level during the 5:00 hour on July 3rd.
• During the 60 minutes from July 3, 10:34 to 11:33, BONK-USD experienced significant volatility, declining 1.35% from $0.00001689 to $0.00001667.
• A notable sell-off occurred at 10:42 when the price dropped 7.6% amid peak volume of 95.9 billion units.