Solana Meme Coin WEN Surges 33%, Overtakes SHIB's Trading Volume Post-Airdrop

WEN, a meme coin on the Solana blockchain, experiences a remarkable 33.45% surge, reaching $0.00014, with a market cap of $141.73 million at the time of reporting.

WEN's Origin and Jupiter Launchpad Debut

WEN emerged as the inaugural token for the Jupiter launchpad, an integral part of the decentralized exchange on Solana. The launchpad's introduction involved a significant airdrop, distributing 643,652 WEN tokens to over a million Solana wallets.

WEN Outperforms SHIB in Trading Volume

WEN's recent surge in market cap, from $54.6 million to $141.73 million, indicates dynamic market activity. Notably, the 24-hour trading volume for WEN surpasses that of Shiba Inu (SHIB), standing at $115.08 million compared to SHIB's $88.60 million, according to SolanaFloor.

WEN Airdrop and Token Distribution Insights

A considerable portion of WEN tokens, 57.60%, has been claimed by holders, totaling 403.25 billion tokens. The remaining 42.40%, valued at $41.14 million, is yet to be claimed. The WEN team plans to burn unclaimed tokens by January 29, rendering them inaccessible to those who did not claim within the stipulated timeframe.

WEN Metrics (Source:Dune Analytics)

Potential Price Surge and Token Burn Speculations

With 322,716 WEN holders, some are refraining from selling, anticipating potential appreciation. This sentiment is linked to the upcoming token burn, which could decrease supply, potentially boosting demand and consequently, the price.

Jupiter's Native Token Launch

In addition to WEN's success, Jupiter is set to launch its native token, JUP, on January 31, distributing it to many wallets as an airdrop for engaging with the exchange. This further emphasizes the ongoing trend of rewards and airdrops within the Solana ecosystem.