A Solana based meme coin WEN coin (WEN) experienced an extraordinary price increase today. This development comes after Jupiter Exchange announced additional WEN airdrop rewards. Following this, WEN price increased by 35%, giving stiff competition to major coins such as Dogecoin (DOGE) and Shiba Inu (SHIB). entry.
🚨 JUST IN: $WEN (@wenwencoin) flips $SHIB in 24-hour trading volume. pic.twitter.com/pZJmRkfgpZ
NEWS CONTINUES BELOW— SolanaFloor | Powered by Step Finance (@SolanaFloor) January 29, 2024
WEN’s Impressive Rally
dogecoin While meme coin giants such as Domino are dominating with a market cap of $11 billion, others such as Bonk and Shiba Inu are experiencing fluctuations. Unexpectedly, WEN defied the odds and surged an impressive 46.44% in a single day. This remarkable increase, despite a 100% drop in the previous week, created waves in the crypto community.
WEN’s Airdrop Strategy
The rise of WEN is driven by a strategic airdrop targeting more than one million wallets in Solana’s ecosystem. The airdrop strategy introduces volatility as Solana’s decentralized exchange (DEX) Jupiter outperforms Ethereum-based Uniswap V3 in 24-hour trading volume.
At the same time, WEN’s performance reflects a strategic move to expand the Solana ecosystem and attracts investors attracted by recent market activity and specific coin developments.
Million Dollar Movements
Blockchain researcher LookOnChain sheds light on a remarkable series of moves by one trader. This person purchased 20 billion WEN tokens for $125,500 at launch, and quickly disposed of 12.5 billion for $807,000, making a significant profit of $682,000 in just 14 hours. Despite this, the trader is left holding 7.6 billion WEN with an unrealized profit of $941,000. This financial success is in line with WEN’s impressive price increase of 500% in 24 hours, reaching a peak of $0.00013781 before falling back to $0.00009401.
In just 14 hours, this trader made over $1.6M trading #BREAST coin $WEN!😱
He spent 125.5K $USDC to buy 20B $WEN when $WEN opened trading, and sold 12.5B $WEN for 807K $USDCrealizing a profit of $682K.
And currently holds 7.6B $WEN($941K), with an unrealized profit of $941K. pic.twitter.com/0adU5BzGSv
— Lookonchain (@lookonchain) January 27, 2024
solanaSupported by ‘s significant 2023 rallies, the meme coin trend continues to attract attention. Coins such as BONK in Solana’s ecosystem have seen significant increases. LookOnChain also reported that one trader earned approximately $6.9 million from BONK, indicating profitability in the Solana meme coin space. Therefore, the increased interest in Solana’s meme coins follows its remarkable performance in recent months.
You can access current market movements here.