WEN Rises: Solana's Latest Meme Coin Airdrop Rocks the Crypto World with Million-Wallet Reach and Price Surges
Jan 28, 2024
Recently, the Solana blockchain network saw a significant event with the airdrop of a new meme coin called WEN. This airdrop was conducted via Jupiter, a decentralised exchange (DEX) aggregator, as part of a large-scale test for its new launchpad. The WEN airdrop was notable for its extensive reach, as it was distributed to over a million Solana wallets. These included active Jupiter users from the past six months, holders of various popular NFT projects on Solana, and owners of the Solana Saga smartphone. Each eligible wallet received 643,652 WEN tokens. At the time, the value of these tokens was over $58, based on the then-current price of $0.00009095 as reported by CoinGecko. Since the airdrop, WEN experienced a dramatic increase in price, peaking at various values according to different sources, followed by a significant drop. Despite these fluctuations, the history of Solana meme coins like BONK and Dogwifhat (WIF), which have seen substantial price surges, has led some recipients to hold onto their tokens. The Solana network itself is gaining prominence, having recently surpassed Ethereum in 7-day stablecoin trading volume and in NFT trade volume for a specific month. Despite some challenges, such as technical issues reported with the Phantom wallet during the airdrop, the network successfully handled the high demand, illustrating its growing influence in the cryptocurrency market.