Solana-based trending meme coin WEN has been on the positive side of the market for the past 24 hours. The crypto witnessed a significant surge of about 30% in price, leading to a rise in its trading volume.
Wen token, which trades under the ticker WEN, has not only shaken the Shiba Inu (SHIB) community but also other meme coins.
Having recorded about over 70% spike in its daily trade volumes, the Solana-based meme token has had an impressive move when compared to other coins.
Within the past 24 hours, the Solana-based meme token price jumped up to $0.0001454, raising speculation in the meme cryptocurrency sector.
However, the world's most popular meme cryptocurrency, Dogecoin (DOGE) seems to hold its ground amidst the recent price movement of the Solana-based meme token.
As of the time of writing, Dogecoin has a massive market cap of over $11 billion and a daily trading volume of $372 million, compared to WEN's $161 million and $49 million, respectively.
In the meantime, there have been fluctuations in the values of Bonk (BONK) and Shiba Inu (SHIB), with BONK showing a modest weekly gain of 3.76% compared to SHIB's 2% dip.
Standing out in this group, Wen has surged by 46.44% in a single day, but it has also witnessed a significant 100% drop in the preceding week, capturing attention.
The emergence of the WEN token has created a buzz in the Solana ecosystem. According to multiple reports, Solana plans to get over a million wallets for its meme coin through a series of airdrop activities.
The recent events surrounding the token have been key to the price volatility, raising questions on whether it will be for the long term or a quick pump-and-dump scenario.
The Solana-based meme coin airdrop plan seems to be a component of a larger effort to grow the ecosystem, with a focus on the outstanding performance of Jupiter, the decentralized exchange (DEX).
Today, the price of Wen ($WEN) stands at $0.0001659, accompanied by a 24-hour trading volume of $49,845,225.62.
This reflects a notable 34.94% increase in price over the last 24 hours, as well as an overall uptrend in the past 7 days. With a circulating supply of 1 trillion $WEN, its market capitalization of is currently assessed at $165,785,571.
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