Shiba Inu Dips Despite Solana Access Launch

Shiba Inu (SHIB) is trading at $0.00000581, down 1.7% over the last 24 hours, despite a new development that allows its token to be accessed on the Solana network. The integration, facilitated by the Sunrise protocol, aims to reduce liquidity fragmentation by creating a canonical Solana representation of the asset. However, SHIB remains an ERC-20 token on Ethereum, and the news has not yet triggered a significant price rally.

The Shiba Inu ecosystem, launched in 2020, includes ShibaSwap and Shibarium, a layer-2 network that went live in August 2023. Despite these advancements, SHIB's current market capitalization of $3.43 billion represents a 93% decline from its all-time high of $0.00008845. The token's price has been hovering around a rising trendline drawn from the September 20 low, with resistance at $0.00000601.

Technical analysis suggests that if the rising trendline holds and the price breaks above $0.00000601 with strong volume, SHIB could target $0.00000627 and $0.00000656. Conversely, a break below the trendline and $0.00000559 could lead to further declines toward $0.00000533 and $0.00000507. The broader market sentiment, particularly Bitcoin's performance, will also influence SHIB's price movement.

Experts note that while the Solana integration expands trading venues and liquidity pools, it does not guarantee new demand. The price prediction for October 2026 remains conditional on the token's ability to hold key support levels and the direction of Bitcoin.