Market Analysis: BONK vs SHIBA INU (SHIB)
Meme Coin Battle on Solana and Ethereum
1. BONK (Solana-based)
Current Price: $0.000017 (4 zeros + 17)
Last Covered: April 5 at $0.000011
Performance: +54% in 1 month
Chart Structure:
Strong support at $0.00001500 (Double Bottom confirmed)
Resistance/Next Target: $0.00002000, with possible reach to $0.00002100
Trade Setup:
Entry: Between $0.00001550 – $0.00001700
Target 1: $0.00002000
Target 2: $0.00002100
Stop Loss: $0.00001499 (below double bottom & psychological support)
> Breakdown below $0.00001500 could trigger a steep drop toward $0.00001000 – complete retracement risk.
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2. SHIBA INU (Ethereum-based)
Current Price: $0.00001276 (4 zeros + 1276)
Last Covered: April 23 at ~$0.00001300
Chart Structure:
Weekly Double Top pattern with neckline at $0.00001000
Major Support: $0.00001000
Holding above it gives hope for reversal, but breakdown could trigger significant downside (500–1000% move).
Trade Setup:
Entry: Between $0.00001250 – $0.00001280
Target 1: $0.00001350
Target 2: $0.00001500
Stop Loss: $0.00000999 (weekly neckline breach)
> Break below $0.00001000 = Major breakdown risk. Weekly structure suggests huge bearish follow-through.
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7-Day Performance:
BONK: -17%
SHIB: -6%
SHIB holding stronger in recent correction
Conclusion:
BONK shows bullish continuation if $0.00001500 holds. SHIB teeters at a critical neckline – hold equals hope, loss equals collapse. Trade setups above are short-term plays aligned with structural analysis.