Shiba Inu Gains Momentum After Solana Listing Success

The listing of Shiba Inu (SHIB) on the Solana blockchain has led to immediate price gains for the token. The expansion, facilitated by the Sunrise bridge, has brought measurable financial benefits by opening a cheaper trading route. The average fee on Solana is significantly lower, making frequent transactions more profitable for retail traders.

Following the official launch, SHIB rebounded from a local low near $0.000055 and tested resistance levels at $0.0000588, $0.0000598. This move resulted in a daily gain of +3.89% and a weekly gain of +2.69%. The Relative Strength Index (RSI) indicator also showed a bullish divergence, suggesting strong market momentum.

This success follows a similar pattern observed with the listing of PEPE on Solana two weeks earlier. After its integration on September 18, PEPE saw a 5-8% rise in the first 48 hours, breaking out of the $0.0000036, $0.0000038 range. The token reached a peak of $0.0000051, $0.0000054, gaining as much as 40% since the start of the month.

The SHIB community has welcomed the move, describing it as opening a 'second front' with the slogan 'Different chain. Same dog.' However, users are reminded to verify the canonical smart contract address to avoid fake pools on Solana's decentralized exchanges.