Shiba Inu has officially launched its SHIB token on the Solana network, granting the memecoin access to Solana’s DeFi ecosystem, liquidity and new users. The timing is particularly opportune as Solana recorded $190 billion in DEX volume in Q3, up from $180 billion in Q2, with Pump.fun dominating memecoin activity at nearly $400 million in 24-hour DEX volume. However, more than 88 trillion SHIB tokens were held on exchanges in early October, with net inflows of 288 billion tokens indicating significant selling pressure. Despite this, SHIB closed Q3 up more than 37%, outperforming Dogecoin, while the memecoin sector’s market cap rose 43%, setting the stage for a potential Q4 rally.
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