Shiba Inu (SHIB) rebounded shortly after an official canonical version launched on Solana.

U.Today, a blockchain media outlet, reported on Oct. 5 that a liquidity migration by the Sunrise bridge, which supported the Solana expansion, was immediately reflected in SHIB’s price.

In an intraday chart, a bullish divergence formed in the relative strength index (RSI) right after the announcement. SHIB bounced from a short-term low around $0.000055 and then tested a resistance band of $0.0000588 to $0.0000598. It posted a daily gain of 3.89 percent and a weekly rise of 2.69 percent.

The rebound was attributed to Solana’s low transaction costs. Solana’s average fee is around 0.000005 SOL, a structure favorable to retail investors who trade frequently. By contrast, the supply of the existing ERC-20-based SHIB remained unchanged. Liquidity migration widened access to trading, but the original token’s issuance structure stayed in place.

Sunrise previously showed a similar pattern with Pepe (PEPE). After the Pepe canonical bridge went live on Solana on Sept. 18, its price rose 5 to 8 percent over 48 hours and broke through the $0.0000036 to $0.0000038 range. A short squeeze later occurred, liquidating more than $2 million in short positions. At the Sept. 21 to 22 peak, it rose as much as 40 percent from early in the month and its market value again topped $2 billion. It pulled back to the $0.0000043 to $0.0000045 range in October, but remained above pre-listing levels.

This pattern coincides with Sunrise creating channels for fund inflows. Canonical tokens distributed under the Wormhole NTT standard integrate immediately with Jupiter, Raydium decentralised exchanges (DEX), the Phantom wallet and the Kamino decentralised finance (DeFi) protocol. This has led to speculation that when tokens with large communities move into Solana, on-chain trading volumes may also be reshuffled.

In the market, some have also pointed to a competitive landscape with existing Solana-based meme coins. BONK saw its trading volume shrink after being delisted on some Asian exchanges.

Still, overheating also emerged right after the listing. A large number of fake liquidity pools appeared on Solana-based decentralised exchanges. As a result, regardless of the short-term price reaction, verifying official contract addresses remained a key variable in actual trading.