Solana Memecoin WEN Up 33%, Flips SHIB’s Quantity After Huge Airdrop

• WEN’s worth hit $0.00014— a notable enhance from its launch value.
• About 42.40% of eligible wallets have but to say the WEN airdrop.
• WEN may commerce increased because the group plans to burn the unclaimed tokens.

WEN, a Solana-based meme coin has seen its worth bounce by 33.45% to $0.00014, in line with information from CoinMarketCap. Like the value, WEN’s market cap had additionally risen to $141.73 million at press time, making the cryptocurrency one of many fastest-growing meme cash on Solana.

WEN took off a debut token for the Jupiter launchpad. For the uninformed, Jupiter is a decentralized trade on Solana. In introducing the launchpad, the trade airdropped 643,652, WEN tokens every to over 1,000,000 Solana wallets.

WEN Surpasses SHIB’s Quantity

When the token launched, the market cap was about $54.6 million. So, the latest enhance instructed that whereas eligible wallets for the airdrop may need bought, others have been shopping for them.

Because of this excessive exercise, WEN’s 24-hour buying and selling quantity flipped that of Shiba Inu (SHIB). In accordance with SolanaFloor, WEN’s buying and selling quantity jumped to $115.08 million. SHIB, alternatively, might solely boast of $88.60 million.

The WEN airdrop marks one in all many rewards that Solana tasks have been giving to individuals. As an illustration, there was Jito (JTO) airdrop a number of months again. Earlier than that, Pyth Community (PYTH) was additionally distributed to its neighborhood. 

As of this writing, Coin Version assessed Dune Analytics to substantiate what number of WEN tokens have been claimed. In accordance with the blockchain-query platform, 57.60% of the tokens have been claimed.

This represents a complete of 403.25 billion tokens. Nevertheless, 42.40% of the tokens stay unclaimed. At press time, the values of those tokens have been value $41.14 million. 

The Token Burn Is Subsequent

If these tokens are unclaimed by the top of January 29, the WEN group plans to burn them. This could make the tokens inaccessible to the eligible addresses who failed to say.

No matter the way it goes, the above information confirmed that there have been 322,716 WEN holders. A few of these holders weren’t eligible for the airdrop whereas others had claimed and determined to not promote.

Moreover, Coin Version discovered that the rationale a few of these holders weren’t promoting was due to the potential that the token might proceed to understand. 

Additionally, this college of thought might be linked to the truth that the token burn would scale back the provision. In flip, demand for WEN may enhance exponentially whereas the value surges. 

In addition to WEN, Jupiter plans to launch its native token on January 31, with the ticker as JUP. Just like the meme coin, many wallets are to obtain JUP as an airdrop for interacting with the trade.