It’s crazy at Solana (SOL) network. Due to an impressive surge in 2023, several projects on the platform are also seeing significant gains. Wen (WEN) is a new project where the arrows now appear to be focused. The project launched a successful airdrop via the decentralized exchange (DEX) Jupiter.
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What is the new crypto/memecoin Wen?
WEN is new Memecoin which recently launched on the Solana network. It was airdropped to over a million wallets. It was part of a promotional and testing event by Jupiter.
The launch of WEN is part of a larger trend in memecoins Blockchain Networks. This is how the meme project Bonk (BONK) was born, which, like Dogecoin (DOGE) has a Shiba Inu as its mascot, a 10,000% increase. This memecoin is also based on the Solana network; a network that appears to be very favorable for dog-based cryptocurrencies.
Bizarre amount of WHO distributed
More than a million Solana wallets were eligible for the Wen airdrop, including Jupiter users active in the last six months. Owners of the Solana smartphone also received a delivery of WEN. Each wallet could claim a large number of tokens worth 643,000 WEN.
Various sources reported that WEN enjoyed enormous esteem for a short time. According to CoinMarketCap, the coin was even worth $2,915. However, the digital coin has lost almost 100% of its value, reaching a price of $0.000125 at the time of writing. That makes each airdrop worth a disappointing $80. This brings the total value of the airdrop to $80 million.
If the value of a WEN token was almost three thousand dollars, it would have been one of the largest airdrops of all time. One million users each receiving 600,000 WEN tokens equates to a total airdrop of 600 billion WEN tokens. Multiply that by the price of one WEN, which is $3,000, and you get a total airdrop 1.8 trillion dollars.
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The Solana network is developing strongly
What is noteworthy is that the Solana network remained stable despite the huge demand of 118,000 wallets wanting to connect at the same time. However, there were some performance issues with the platform’s most popular wallet, Phantom. These issues occurred within the first few minutes of the airdrop launching.
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