Shiba Inu (SHIB) has shown resilience, gaining over 2% in the past 24 hours to close at $0.00001251. The popular meme cryptocurrency initially dipped, mirroring a broader market downturn ahead of a speech by Fed Chair Jerome Powell.
However, buyers quickly stepped in to defend the critical psychological support level of $0.00001200. This strong buying pressure not only reversed the decline but also pushed the price back above a key ascending trendline and the 61.8% Fibonacci retracement level of $0.00001231.
With significant bullish volume, SHIB’s comeback has been fueled by a decisive push from its intraday low of $0.000012295 to a close of $0.000012574. The token successfully held key support and broke through several resistance barriers. The next psychological target for bulls is the $0.000012700 level.
August 2025, Cryptoniteuae
