WEN Airdrop sparked a frenzy as Solana Meme Coin targeted 1 million wallets.

A new meme coin is gaining popularity SolanaAnd follows the tradition of Solana token surges: Bonk and Dog We Fat (WIF), Rookie wen It’s been dominating the conversation since Friday morning’s airdrop of more than a million wallets.

WEN was airdropped via decentralized exchange (DEX) aggregator Jupiter as a large-scale test of the new Launchpad. WEN will be used again when Jupiter begins next week. Airdrop for our own token, JUP. Nearly one million wallets are eligible for the long-awaited JUP drop.

But WEN has become more widespread. Over 1 million eligible Solana wallets—Various popularity, including active Jupiter users over the past 6 months NFT Projects on the platform, even Solana Saga Smartphone.

Each wallet can request an airdrop of 643,652 WEN, which at the current price of $0.00009095 equates to over $58 per data. CoinGecko. WEN has gained about 483% in price since Friday morning’s decline.

Other data sources say that in a short period of time, the price soared to $2,915. CoinMarketCapOr $4,836 according to bird’s eye. Both sites show that WEN’s current price is down about 100% from its incredible highs.

These price pops appear to be outliers, but that hasn’t stopped Crypto Twitter from seizing the opportunity to call out potential traders. Who is “approved”? Buy WEN for hundreds or thousands of dollars per token immediately after the drop, even though the price quickly stabilizes below 1 cent.

However, token prices may fluctuate significantly immediately after a transaction. airdrop, and meme coins are famous for being volatile even outside the post-airdrop window, so this disruption is expected. Since the price of Solana meme coins, at least those mentioned earlier, have a history of rising thousands of times, some WEN recipients may be holding out in hopes of a similar rise.

The Solana network appears to have held steady despite massive falling demand. Despite approximately 118,000 wallets attempting to connect simultaneously, Solana Floor.

However, it is not entirely without technical problems. phantom wallet Reported “Performance Issues”. In the early moments of the drop, they said they were targeting a JUP airdrop next week. “It’s going smoothly.”

Edited by Ryan Ozawa.

Source: Decrypt.co