The canonical version of Shiba Inu (SHIB) has officially launched on the Solana blockchain, marking a significant expansion of one of Ethereum’s largest assets. This rollout, driven by the Sunrise bridge, resulted in a swift and measurable financial uptick for SHIB’s price and ecosystem.
Immediate market impact
Following the announcement, TradingView data showed the RSI indicator forming a bullish divergence, suggesting strong upward momentum. SHIB rebounded from a local low near $0.000055, rising to test resistance zones at $0.0000588 and $0.0000598. The token recorded a 3.89% daily gain and 2.69% weekly increase amid a surge in liquidity.
SHIB’s rapid rise was attributed to the cheaper trading routes available on Solana, with transaction fees averaging just 0.000005 SOL, a level seen as highly attractive for retail traders compared to Ethereum’s often higher costs.
Despite the token’s migration to a new chain, the original supply of SHIB as an ERC-20 asset remained unchanged, preserving its integrity for existing holders.
Cross-chain technology boosts momentum
Sunrise, a protocol focused on bridging major assets from Ethereum to Solana, previously demonstrated the market potential of such transfers. Two weeks earlier, the canonical PEPE token debuted on Solana through the Sunrise infrastructure, with immediate effects. In the first 48 hours post-launch, PEPE increased 5% to 8%, moving beyond its established price range of $0.0000036 to $0.0000038.
Within days, a surge in buying activity triggered a short squeeze, liquidating over $2 million in short positions on PEPE. At the rally’s peak between September 21 and 22, PEPE reached values between $0.0000051 and $0.0000054, representing a 40% gain since the beginning of the month and sending its market capitalization above $2 billion.
Although the price corrected in October to the $0.0000043–$0.0000045 range, PEPE maintained gains well above its levels prior to Solana integration.
Mini dictionary: Sunrise bridge – A protocol enabling the migration of major digital assets, such as SHIB and PEPE, from Ethereum to Solana, facilitating cross-chain liquidity and lowering transaction costs.
| Token | Integration Date | Initial Price Range | Peak Price Post-Integration | % Gain | Short Positions Liquidated |
|---|---|---|---|---|---|
| PEPE | September 18 | $0.0000036–$0.0000038 | $0.0000054 | 40% | $2 million |
| SHIB | September (exact date not specified) | $0.000055 (local low) | $0.0000598 | 3.89% (daily) | Not reported |
Broader effects on Solana ecosystem
Sunrise deploys tokens using the Wormhole NTT standard, which allows instant, integrated access to Solana’s core platforms such as the Jupiter aggregator, Raydium decentralized exchange, Phantom wallet, and Kamino DeFi protocol. This move is reshaping trading patterns on Solana, increasing competition for liquidity and attention among native projects.
The influx of high-profile tokens with large investor communities has led to shifts in trading activity. For instance, BONK, a Solana-native token, experienced a decline in trading volume following delistings from several Asian exchanges and the arrival of major Ethereum assets via Sunrise.
Members of the SHIB community have described this expansion as opening a “second front,” emphasizing continuity with their slogan “Different chain. Same dog.”
Security reminders amid increased activity
The enthusiasm around SHIB’s Solana debut has also brought challenges, as fake liquidity pools appeared on decentralized exchanges. SHIB’s development team urged traders to use only the verified contract address: shib5gSoVKPjwkXrxRk7SbQFzb2R9rQB3TgQWYX4RwW, in order to avoid scams and counterfeit assets.
