Both Shiba Inu (SHIB) and BONK, two of the most watched memecoins in the crypto market, are showing strong bullish momentum, backed by technical patterns and rising volumes. The recent rallies come as BONK ETF speculation gains traction and SHIB attracts growing investor interest.
Shiba Inu Price Surges After Bullish Reversal Pattern
Shiba Inu (SHIB) surged 5.2% in the past 24 hours, rising from $0.00001136 to $0.00001195. The move confirmed an inverse head-and-shoulders (H&S) pattern on the hourly chart—a classic technical signal of bullish reversal.
- The pattern formed after a multi-day correction, with the central trough being the deepest, flanked by two shallower ones.
- Significant volume spikes were recorded, especially at 16:00 on July 2 (1.68B volume), helping establish a high-volume support level at $0.00001162.
“Technical indicators suggest continued bullish momentum as SHIB maintains prices above the newly established support levels.”
During the early hours of July 3, SHIB saw increased volatility, with a quick drop and recovery between 10:09 and 11:08, as volume spiked to 20.94B. Prices briefly dipped to $0.00001195 before bouncing back, reflecting strong buyer interest.
Sustained trading above $0.0000120 has created a new resistance zone to watch in the coming sessions.
BONK Memecoin Skyrockets 23% on ETF Speculation and Holder Milestone
BONK, the Solana-based memecoin launched in late 2022, jumped 23% to $0.00001665, outperforming all other top 100 cryptocurrencies. The rally was fueled by speculation surrounding a proposed 2x Long BONK ETF and rapid growth in community engagement.
- BONK is nearing the 1 million holder milestone, reflecting increasing adoption.
- The rally featured three strong upward waves, peaking in volume between 23:00 and 01:00, where nearly 3 trillion tokens were traded.
A high-volume support zone has formed around $0.0000161, strengthening the bullish setup.
Technically, BONK mirrored SHIB, with its own inverse H&S pattern playing out on the hourly chart. A price surge from $0.0000142 to $0.0000167 marked a 17% gain in 24 hours, with resistance emerging at $0.0000174.
Momentum Continues for SHIB and BONK
With strong technical patterns, growing volume, and supportive fundamentals, both SHIB and BONK appear poised for continued upside. Investors should watch for breakouts above resistance zones, which could trigger new highs in the short term.
Inverse head-and-shoulders patterns, strong support levels, and rising engagement metrics all point to sustained bullish sentiment across both assets.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.