Shiba Inu Rebounds After Solana Launch

Shiba Inu (SHIB) saw a notable rebound shortly after its official canonical version launched on Solana. The price surge followed a liquidity migration via the Sunrise bridge, which supported the expansion to Solana. SHIB bounced from a low of $0.000055, reaching a resistance band between $0.0000588 and $0.0000598. The token posted a daily gain of 3.89% and a weekly rise of 2.69%.

The rebound was largely attributed to Solana’s low transaction costs, averaging around 0.000005 SOL, which benefits retail investors. Despite the liquidity migration, the supply of the original ERC-20-based SHIB remained unchanged, maintaining its existing issuance structure.

This pattern was previously observed with Pepe (PEPE), which saw a 5 to 8% price increase within 48 hours of its canonical bridge launch on Solana on September 18. PEPE’s price later surged as much as 40% from early September, reaching a market value of over $2 billion before pulling back to the $0.0000043 to $0.0000045 range in October.

Analysts speculate that the integration of tokens with large communities into Solana could reshape on-chain trading volumes. However, the market also noted risks, including the emergence of fake liquidity pools on Solana-based decentralized exchanges, emphasizing the need to verify official contract addresses.