Solana’s meme coin WEN achieved a trading volume exceeding $55 million in less than eight hours, as indicated by data from trading aggregator Birdeye. WEN is claimable from January 26 to January 29 on LFG Launchpad via the decentralized exchange Jupiter, with over one million eligible wallets set to receive 643,652 tokens each.
At the launch time of 3 pm UTC, the total WEN distributed to eligible wallets, valued at approximately $35, could be sold. Over the last four hours, WEN’s price surged by almost 93%, enabling users who waited to sell the token and gain nearly double the profit compared to those who sold right after the claim period commenced.
While $55 million may appear relatively modest when compared to the trading volumes of crypto assets with 10-digit market caps, it’s essential to consider that WEN’s price currently stands at $0.0001232, with almost 503,000 trades. WEN was initially teased on January 22 on X (formerly Twitter) and officially unveiled on January 25.
WEN, a meme coin inspired by a poem published by Jupiter’s co-founder, identified as Meow in December 2023, is characterized as “a community coin to give back and immortalize WEN culture.” Meow’s post humorously ridicules the ‘wen token’ meme that gained popularity as the number of users seeking airdrops increased. The poem transformed into a non-fungible token (NFT) through Ovols, a tokenization standard integrating NFTs into decentralized finance (DeFi), with each WEN token representing a fraction of Meow’s tokenized poem.
