Shiba Inu’s SHIB token is now available on Solana through Sunrise, a token gateway backed by Wormhole Labs. The move gives the Ethereum-based meme coin access to a blockchain that has become closely associated with meme-coin activity and marks a notable shift for a project that had spent years steering users toward Shibarium, its own layer-2 network.
The Solana debut also comes with a market reaction. SHIB gained 3.89% in the 24 hours after the listing went live, with most of that rise occurring after Solana announced the launch. Over the past seven days, the token was still up 2.69%, although it remains about 93% below its October 2021 peak.
A new route for SHIB
The listing was launched through Sunrise, which is designed as an entry point for tokens arriving from other blockchains. In this case, it gives SHIB a direct presence on Solana rather than keeping the token confined to Ethereum and the Shiba Inu ecosystem’s own infrastructure.
That stands out because Shiba Inu had previously focused much of its ecosystem strategy on Shibarium, its in-house layer-2 network, instead of expanding onto competing chains. The Solana rollout therefore represents a break from that earlier posture.
Canonical token, not a wrapped version
Sunrise uses Wormhole’s Native Token Transfers, or NTT, standard. According to the source article, that means SHIB on Solana is the canonical token rather than a wrapped copy, a distinction that matters for how the asset is represented across networks.
Sunrise had previously listed Monad’s MON as its first token. With SHIB, the gateway adds a far more established meme coin to a chain that has long been home to dog-themed competitors such as Bonk.
Why Solana may appeal now
The timing of the expansion is notable. The source article says on-chain data showed Shibarium usage collapsing while SHIB was trading near multi-year lows. Against that backdrop, Solana offers an existing audience for meme-coin trading as well as lower transaction costs.
The article cites Solana’s base transaction fee at 0.000005 SOL per transaction, or a fraction of a cent, in contrast with Ethereum’s variable fees. That cost difference could make Solana a more practical venue for high-frequency retail trading around meme tokens.
Risks and what to watch next
The launch is not without complications. Unofficial tokens using the SHIB name already exist on Solana, creating potential confusion for traders. Solana has urged users to verify official contract addresses before trading.
Beyond the initial price reaction, the next meaningful test is whether SHIB can generate real trading volume on Solana. If activity materializes, the listing could become a broader example for other Ethereum-based tokens considering cross-chain expansion through similar infrastructure.
Source: beincrypto.com