Solana Memecoin WEN Rallies as 3-Day Airdrop Ends

All unclaimed tokens, or about 25% of circulating supply, will be burned.

By: Pedro Solimano Loading...

Solana Memecoin WEN Rallies as 3-Day Airdrop Ends

Solana-based WEN token is rallying as its three-day airdrop ends today. About half of the token’s circulating supply will be burned.

Any unclaimed tokens from the pool of 70% of total supply offered to the public will be burned, the team said. This number rose today to 271 billion tokens, more than 25% of the total 1 trillion WEN token supply.

WEN has surged in price since its airdrop started on Jan. 26. The token has rallied more than 30% since its launch on Jan. 26, but is down 15% from high, reached Sunday, according to CoinGecko.

WEN marks the latest in a series of Solana-based tokens that cash in on two main trends currently dominating the crypto market, memecoins and airdrops. It also lays the groundwork for Solana’s leading DEX, Jupiter Exchange, to prepare for its own airdrop, set to kick off Wednesday.

Over 300,000 Holders

Users claimed a total of $429B WEN tokens, with a $98.5 airdrop value to each address, according to FlipsideCrypto. The airdrop leaves a total of 354,492 holders.

The sole requirement for claiming WEN tokens was transacting on Solana’s leading DEX by volume, Jupiter Exchange, over the past six months.

Jupiter Airdrop

WEN pairs spiked today on the exchange, claiming two of the top three trading pairs. SOL/WEN and USDC/WEN totalled nearly $70M in volume, according to Jupiter’s dashboard.

WEN, a fractionalized NFT project, served as a stress-test for Jupiter’s launchpad launch. The DEX will be offering its own JUP airdrop on Jan. 31, available for the roughly 955,000 wallets that interacted with the DEX before Nov. 02. Four rounds of airdrops distributing 40% of the total 10B supply will take place.