Shiba Inu jumped after its canonical token went live on Solana through the Sunrise bridge, while separately, exchange netflows for SHIB have dropped to roughly 120 billion tokens, a sign that immediate selling pressure may be cooling. The token now trades near its long-term moving average as it works toward a resistance zone that capped its September rally.
Shiba Inu's official launch on the Solana network through the Sunrise bridge triggered an immediate 4% price surge. According to TradingView's hourly chart, the RSI indicator formed a bullish divergence right after the announcement, and SHIB rebounded from a local low near $0.000055 to test resistance at $0.0000588–$0.0000598, a daily gain of 3.89% and a weekly gain of 2.69%. The average fee on Solana is just 0.000005 SOL, making frequent transactions profitable for retail traders, and the supply of the original ERC-20 token remains unchanged.
A pattern seen before with PEPE
Sunrise's bridge had already shown this effect two weeks earlier. The canonical PEPE bridge launched on Solana on September 18, and PEPE rose 5–8% in the following 48 hours, breaking out of its $0.0000036–$0.0000038 range before a short squeeze liquidated more than $2 million in short positions. Canonical tokens deployed under the Wormhole NTT standard gain immediate integration with Solana platforms including Jupiter, Raydium, Phantom and Kamino. The official Shiba Inu account described the move with the slogan: "Different chain. Same dog."
Netflows ease as price holds ground
Separately, exchange netflows for SHIB have dropped toward roughly 120 billion tokens, a notable slowdown compared with the much larger spikes seen recently. Total inflows stand around 551.8 billion SHIB against roughly 453.4 billion in outflows, while exchange reserves have edged 0.11% higher even as their dollar value rose 4.85%.
SHIB currently trades around $0.00000598, having recovered from September lows near $0.0000049, and has moved above its major long-term moving average around $0.00000565. The next hurdle sits at $0.00000610–$0.00000630, the same zone where September's rally failed. A clean daily close above that level could mark another higher high, though a breakdown below roughly $0.00000560 would expose $0.00000540 and then $0.00000500.
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