8 months ago
50 ARTICLE AD
The token WEN jumped almost 94% in the last four hours, with close to 503,000 trades made across different platforms.
Solana’s memecoin WEN trading volume surpassed $55 million in less than eight hours, figures from trading data aggregator Birdeye show. WEN is available for claim from January 26 to January 29 on LFG Launchpad from decentralized exchange Jupiter, and more than one million wallets are eligible to receive 643,652 tokens each.
At 3 pm UTC, which was the time of launch, the total amount of WEN distributed to eligible wallets could be sold at around $35. According to Birdeye, WEN price jumped almost 93% in the last four hours, which means that users who waited can sell the token and profit almost two times more than traders who sold right after the start of the claim period.
Although $55 million may seem like a fairly small amount when compared to the trading volumes of crypto assets with 10-digit market caps, it is worth noting that WEN’s price is $0.0001232 at the time of writing, with almost 503,000 trades. WEN was teased in a January 22 post on X (formerly Twitter) and officially revealed on January 25.
WEN is a meme coin created after a poem published by Jupiter’s co-founder identified as Meow on December 2023, and is classified as “a community coin to give back and immortalize WEN culture.”
Meow’s post mocks the meme ‘wen token’ that gained traction as the number of users hunting airdrops rose, all too excited to get rewarded and asking when native tokens from decentralized applications and blockchains would be distributed.
The poem became a non-fungible token (NFT), which was divided into one trillion pieces by Ovols, a tokenization standard that integrates NFTs into decentralized finance (DeFi). Therefore, each WEN token is a fraction of Meow’s tokenized poem.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
