Shiba Inu Jumps 3.2% After Solana Listing Via Sunrise Bridge
Shiba Inu (SHIB) made its official debut on the Solana network through the Sunrise bridge, sparking a 3.2% price surge. The listing led to a 228% spike in trading volume, exceeding $112 million in the first few hours. The verified canonical address for the smart contract is shib5gSoVKPjwkXrxRk7SbQFzb2R9rQB3TgQWYX4RwW, a crucial detail amid reports of fake pools.
According to TradingView’s hourly chart, SHIB’s Relative Strength Index (RSI) showed bullish divergence post-announcement. The token rebounded from a local low near $0.0000055, testing resistance between $0.00000588 and $0.00000598. At the time of writing, SHIB is trading at $0.000005879, with a 5% weekly gain.
The integration via Sunrise infrastructure offers a cheaper trading route, with Solana’s average fee at just 0.000005 SOL. The canonical version under the Wormhole NTT standard ensures seamless integration with key Solana platforms like Jupiter aggregator, Raydium DEX, Phantom wallets, and Kamino DeFi protocol.
The listing follows a similar pattern seen with PEPE, which rose 5-8% in its first 48 hours on Solana. However, Shiba Inu developers warned about the proliferation of fake pools, emphasizing the importance of the verified canonical address.