New post-WIF hype on Solana: WEN craze

Solana, which has become the leading blockchain of memecoins, started a new craze after BONK and WIF.

A new craze has started in Solana, which has become the leading blockchain of memecoins with its impact since the beginning of 2023. After BONK and WIF memecoins, WEN became the favorite name of the Solana ecosystem.

WEN, which attracted great interest from the investors of the Solana ecosystem, was released on January 26. Launching with great enthusiasm, WEN exceeded $100 million in a short time. Memecoin investors started turning to WEN after BONK and WIF.

In addition, Lookonchain mentioned that a crypto wallet made a huge profit with a $125K WEN investment.

## WEN kicks up the Solana ecosystem

The Solana ecosystem has been leading the memecoin hype lately. Many memecoins gained popularity soon after they were launched on the Solana network. BONK and WIF, in particular, have led to the movement of the Solana ecosystem. Eyes were once again turned to the Solana network the other day.

A memecoin called WEN was launched on the Solana network on Jan. 26. WEN rallied over 4,000% shortly after launch. WEN, which created great interest, exceeded the market value of $ 100 million within hours.

DeFi project Jupiter has been an important factor in WEN’s prominence. Solana users trading on Jupiter were given a WEN airdrop.

Between July 2023 and January 2024, users who traded the lowest $5 on the Jupiter platform were eligible to receive an airdrop from the memecoin WEN. The six-month participation period ended on January 19 with a snapshot. According to the statements, airdrops that are not claimed by January 29 will be burned.

Inspired by Weremeov, one of the names behind Jupiter, WEN quickly became a favorite of investors. WEN was launched with Jupiter’s launchpad called LFG.

❤️ > GM

Today is a special day, $WEN will make its entrance into the Solana blockchain. The Wen Foundation is not only debuting a community coin, but a brand new NFT standard – WNS 0.0

Let’s break some barriers, create history, and most importantly – have fun. pic.twitter.com/yPF8rdDiRC

— $WEN (@wenwencoin) January 26, 2024

With a total supply of 1 trillion, 70 percent of WEN was airdropped. WEN has achieved $150 million in trading volume in the last 24 hours. Many crypto investors have started to think that they will airdrop Jupiter’s native token to those who hold WEN in their wallets. Jupiter’s native token, JUP, is expected to launch at the end of the month.

On-chain data provider Lookonchain took a different look at the WEN craze. According to Lookonchain’s post on the X platform, an investor has made a large amount of profit from WEN. The investor bought 20 billion WEN for $125,000. Turning the rise of the memecoin into an opportunity, the investor sold 12.5 billion WEN for $807,000. From these transactions, 682 thousand dollars of earnings entered the investor’s pocket. The investor left $7.6 billion in WEN in his wallet. The unrealized profit of these WENs is at the level of 950 thousand dollars.

In just 14 hours, this trader made over $1.6M trading #MEME coin $WEN! 😱

He spent 125.5K $USDC to buy 20B $WEN when $WEN opened trading, and sold 12.5B $WEN for 807K $USDC, realizing 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