Shiba Inu (SHIB) has recently experienced a price increase of over 2% within 24 hours, effectively holding key support levels amidst substantial trading volumes that exceeded 1 trillion tokens. This spike in trading volume follows earlier declines in the cryptocurrency market, particularly influenced by uncertainties surrounding the upcoming speech from Fed Chair Jerome Powell. Buyers strategically entered the market, particularly around the psychological support level of $0.00001200, which facilitated a rebound above key resistance levels and the significant 61.8% Fibonacci retracement point of the June-July rally. The price fluctuated within a range of $0.000012089 to $0.000012705, marking a 5% spread during the session. Analysts indicate that the subsequent target for SHIB bulls is the $0.000012700 level, further supported by significant institutional interest that peaked between 13:00 and 14:00. CD20 Index maintained stability as the market confidence remained despite notable volatility among individual tokens. This analysis suggests a developing bullish sentiment, with SHIB potentially solidifying its push beyond established resistance limits.

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