Solana’s WEN memecoin nears $100m market cap following launch

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Following different Solana memecoins, WEN goals to immortalize a preferred a part of a crypto tradition centered on timelines and milestones.

The WEN token skyrocketed over 4,000% from launch on Jan. 26, racing above a $50 million market capitalization lower than 12 hours after its debut on Solana’s ecosystem. WEN was airdropped to customers of the decentralized trade Jupiter.

To assert the free tokens, Jupiter customers should have traded at the least $5 in quantity between July 2023 and January. The six-month qualification interval ended at midnight UTC on Jan. 19 when a snapshot was taken. In response to WEN’s launch web page, tokens unclaimed by Jan. 29 will probably be burned.

WEN is impressed by a fractionalized NFT poem written by pseudonymous developer Weremeow, one of many minds behind Jupiter trade and different Solana-native dapps like Meteora. The Ovals workforce manages the cryptocurrency and was launched through Jupiter’s launchpad platform dubbed LFG. 

Of WEN’s one trillion provide, 70% was airdropped to eligible customers who can earn buying and selling charges by offering liquidity. Per the undertaking’s web page, the thought is a community-backed salute to Weremeow and the widespread crypto query of when. 

The time period usually refers to inquiries concerning when a token would possibly launch, or a brand new characteristic is likely to be shipped.  

WEN’s launch comes forward of a Jupiter airdrop doubtless slated for month’s finish and follows a frenzy of Solana memecoins towards the top of final 12 months. Cryptos like BONK and dogwifhat had been stated to show speculators into in a single day millionaires. 

Customers purchased in with small-sized capitals, generally turning a couple of dollars into hundreds of {dollars} in income. 

Memecoin mania is synonymous with every crypto cycle, often main right into a bull run. Nonetheless, warning is suggested when coping with altcoins depending on group hypothesis fairly than confirmed utility.

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