Shiba Inu (#SHIB ) Price Gains 2% as Bulls Defend Key Support and Eye $0.00001270 Breakout

Shiba Inu Defends Key Support Amid Market Volatility

Shiba Inu (SHIB), one of the most actively traded meme cryptocurrencies, has shown resilience in the past 24 hours, posting a modest 2% gain despite broader market weakness. The recovery comes after SHIB bulls stepped in to defend critical support levels near $0.00001200, a zone that has served as a psychological anchor for traders over recent weeks.

The move is notable as it occurred during a period of heightened market caution. On Wednesday, Bitcoin (BTC) and several leading altcoins fell under pressure as investors engaged in de-risking ahead of U.S. Federal Reserve Chair Jerome Powell’s speech. Despite the broader downturn, SHIB managed to shake off early weakness, confirming strong buyer presence at lower levels.

Price Recovery Above Fibonacci Support

After dipping early in the session, SHIB rebounded swiftly, reclaiming both the ascending trendline from June 22 and August 2 lows and the 61.8% Fibonacci retracement level of the June–July rally, positioned at $0.00001231.

Low Point: SHIB bottomed near $0.00001200.

High Point: Prices rallied to close at $0.000012574, representing a 5% intraday range.

Support Resilience: Buyers ensured SHIB stayed above the crucial $0.000012250 demand zone, a level that has repeatedly attracted heavy trading volumes.

This rebound reinforces the technical structure supporting SHIB’s ongoing uptrend and positions the token for another attempt at higher resistance levels.

Bulls Eye $0.00001270 Breakout

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