WEN On Solana Airdrops Its Way To A $150 Million Valuation, Trader Makes $1.6M Buying Early
Portfolio Pulse from Khyathi Dalal
The Solana-based memecoin Wen (CRYPTO: WEN) reached a market cap of over $150 million within three days of trading, following an airdrop to over a million users. Wen surpassed the market cap of another Solana memecoin, Myro (CRYPTO: MYRO). A trader made $1.6 million by buying Wen early and selling a portion of it. Jupiter (CRYPTO: JUP), Solana's largest DEX aggregator, is also planning an airdrop for eligible users.
January 29, 2024 | 6:13 pm
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POSITIVE IMPACT
Solana's ecosystem growth with the successful launch of Wen and the upcoming Jupiter airdrop could positively impact the demand and price of Solana's native token SOL.
The success of new tokens like Wen and the anticipation of the Jupiter airdrop can lead to increased activity and interest in the Solana blockchain, which may result in a positive short-term price movement for SOL.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80