What to Know
- Shiba Inu gained 3.89% as its canonical token launched on Solana through Sunrise, opening additional trading access beyond Ethereum’s ecosystem.
- PEPE gained 5% to 8% within 48 hours of its Solana integration before further gains triggered substantial bearish position liquidations.
- Sunrise connects SHIB with major Solana applications, while fake trading pools prompted developers to emphasize verifying the official canonical contract.
Shiba Inu rose 3.89% as its canonical token debuted on Solana, opening another trading route through the Sunrise bridge. According to TradingView’s hourly chart, SHIB recovered from a local low near $0.000055 and approached a nearby resistance zone. Buyers tested the $0.0000588–$0.0000598 range, while the token’s weekly gain reached 2.69% during the same reporting period.
The hourly relative strength index formed a bullish divergence around the announcement, indicating improving momentum alongside the price recovery. SHIB’s rebound brought its price toward the upper trading range as Sunrise expanded access to the Ethereum-based token.
Through the bridge, holders can access a canonical version of SHIB within Solana’s trading and decentralized finance ecosystem. The expansion leaves the original ERC-20 token’s supply unchanged while introducing another network for transactions involving the asset.
Sunrise deploys canonical tokens using Wormhole’s Native Token Transfers standard, connecting established assets with applications operating on Solana. Supported platforms include the Jupiter trading aggregator, Raydium decentralized exchange, Phantom wallet, and Kamino decentralized finance protocol.
Additionally, Solana offers lower transaction costs for users making frequent transfers, giving SHIB holders another option for smaller trades. Its quoted base transaction fee stands at 0.000005 SOL, although individual transactions can involve additional costs.
Source: TradingView
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PEPE’s Earlier Bridge Launch Preceded Gains and Short Liquidations
SHIB’s arrival follows PEPE’s September 18 expansion through Sunrise, which preceded a rally beyond the token’s previous trading range. PEPE gained between 5% and 8% during the first 48 hours, moving above approximately $0.0000036–$0.0000038.
A subsequent short squeeze liquidated more than $2 million in bearish positions as the token advanced toward higher prices. By September 21–22, PEPE traded around $0.0000051–$0.0000054, bringing its gains from the month’s opening levels to approximately 40%.
During that rally, PEPE’s market capitalization climbed above $2 billion before an October correction reduced part of the advance. The token later retreated toward $0.0000043–$0.0000045, remaining above the range recorded before its integration with Solana.
Both launches add established Ethereum meme tokens to Solana’s available assets through the same bridge infrastructure and supporting applications. SHIB’s debut also extends its trading presence across networks without replacing the token already circulating on Ethereum.
According to Shiba Inu’s official X account, the project announced the expansion using the slogan “Different chain. Same dog.” Community members described the move as opening a “second front” for the token’s presence across blockchain networks.
Fake SHIB pools appeared on Solana’s decentralized exchanges amid launch activity, prompting developers to emphasize the verified canonical contract. Developers directed users toward the official address as SHIB’s price tested resistance following its recovery from the local low.
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