Shiba Inu Gains Momentum After Solana Listing
The recent expansion of Shiba Inu ($SHIB) onto the Solana blockchain has already started to show positive financial results. The official launch of $SHIB's canonical version through the Sunrise bridge triggered an immediate price rebound, with the token climbing from a low near $0.000055 to test resistance levels at $0.0000588, $0.0000598. This move resulted in a daily gain of +3.89% and a weekly increase of +2.69%.
The lower transaction fees on Solana, averaging just 0.000005 SOL, have made frequent trading more profitable for retail investors. This shift in liquidity has not altered the supply of the original ERC-20 token but has opened a cheaper trading route, contributing to the price surge.
This is not the first time the Sunrise bridge has demonstrated its effectiveness. Two weeks earlier, the canonical $PEPE bridge launch on Solana led to a 5-8% price increase within 48 hours. The subsequent rally saw $PEPE peak at 0.0000051-0.0000054, marking a 40% gain since the start of the month. Despite a correction in October, $PEPE remains well above its pre-listing levels.
The successful integration of major tokens like $SHIB and $PEPE onto Solana has set a precedent for systematic capital inflows. These tokens, deployed under the Wormhole NTT standard, enjoy seamless integration with key Solana platforms such as Jupiter aggregator, Raydium DEX, Phantom wallets, and the Kamino DeFi protocol. However, the developers caution users to beware of fake pools on decentralized exchanges, reminding them that the only verified address for the canonical smart contract is shib5gSoVKPjwkXrxRk7SbQFzb2R9rQB3TgQWYX4RwW.