Rollercoaster for Solana's WEN Token: Significant Drop Following $35 Million Burn and Airdrop Campaign

By: Isha Das

Solana's meme coin, WEN, witnessed a major plunge of 23% earlier this week following the conclusion of its airdrop campaign and a massive token burn of $35 million. Despite the significant percentage of tokens burned, the event did not prevent the token's value from dropping.

As the airdrop deadline drew close, approximately 60% of the available WEN tokens were claimed by eligible wallets, leaving around 41% of the Solana meme coin unclaimed.

In related developments, Solana has once again positioned itself as a competitor to Ethereum in the DeFi Trading realm, following last December's meme coin barrage. The next major event to watch out for in the Solana ecosystem is the forthcoming Jupiter airdrop.

Meanwhile, Solana-based game MixMob is set to launch its MXM governance token this week, attracting attention in the run-up to its first airdrop.