Shiba Inu (SHIB) has demonstrated notable strength by maintaining crucial support levels despite recent volatility, driven by surging trading volumes and institutional interest.
market Volatility and Support Levels
The cryptocurrency surged over 2% in the last 24 hours, with trading volume exceeding 1 trillion tokens, signaling strong buyer interest amid broad de-risking.
Heavy Volumes Indicate Growing adoption
SHIB’s price experienced a temporary dip due to cautious investor sentiment ahead of Federal Reserve Chair Jerome Powell’s speech but quickly rebounded, showcasing resilience.
Key Technical Levels Hold Strong
Buyers stepped in near the $0.00001200 support zone, ensuring psychological and technical stability. The rebound lifted SHIB above the ascending trendline connecting June and August lows, reinforcing its bullish outlook.
