Shiba Inu Bulls Defend Key Supports as Volume Surges Beyond 1 Trillion Tokens

Shiba Inu (SHIB) has gained over 2% in the last 24 hours, with buyers stepping up to defend critical support levels amid strong trading volumes.

The meme coin dipped early Wednesday alongside Bitcoin and broader market declines as investors reduced risk ahead of Federal Reserve Chair Jerome Powell’s upcoming speech.

However, buyers re-entered near the $0.00001200 mark, preserving this psychological support level. This buying pressure helped SHIB rebound above the ascending trendline connecting lows from June 22 and August 2, as well as the important $0.00001231 level—representing the 61.8% Fibonacci retracement of the June-July rally.

Bulls Drive SHIB Recovery

SHIB shook off early volatility to rally from $0.000012295 to $0.000012574 on heavy bullish flows. The token successfully held key support and broke through resistance levels, setting sights on the next target near the $0.000012700 psychological threshold.

According to CoinDesk’s AI-powered technical analysis, $0.000012700 is the next significant hurdle for buyers to overcome.

Technical Indicators Signal Bullish Momentum

• SHIB traded in a range between $0.000012089 and $0.000012705, a 5% spread between session lows and highs.
• Institutional interest peaked between 13:00 and 14:00 UTC, driving volume beyond 1 trillion tokens.
• Price action held firm above $0.000012250, indicating strong demand support.
• A mid-session sell-off around 13:00 failed to break below $0.000012089 support.
• Resistance at $0.000012600 was breached, triggering a volume surge to 12.8 billion tokens.

CD20 Index Remains Stable Amid Volatility

The CD20 index, which tracks institutional interest across major crypto assets, remained steady despite heightened SHIB volatility. This suggests ongoing selective confidence from institutional investors, even as individual token prices fluctuate and short-term uncertainty persists.