One of the first cat-themed meme cryptocurrencies in the Solana (SOL) ecosystem, Wen (WEN), introduced a number of technical and economic innovations for the Solana (SOL) community.
In the last 24 hours, the price of Wen (WEN), a cat-themed Solana-based meme coin, jumped from $0.0000897 to $0.000115, adding over 30% to its market cap. After the brief upsurge, the price of the WEN/USDT pair on Orca DEX and BingX CEX slightly retraced.
Launched three weeks ago, Wen (WEN) is designed to immortalize the old crypto meme “Wen?” (“When?” in broken English). Crypto enthusiasts use this concept to highlight the anticipation of a product release, update, or price upsurge: “Wen moon?” “Wen mainnet?” and so on.
Backed by Wen Foundation, the WEN token uses a cat image as its logo. Prior to the rapid price upsurge, it announced that the Foundation locked 5 billion BONK tokens in the treasury to generate returns.
BONK is the native token of Bonk Inu, the largest and most popular meme coin on Solana (SOL). In December 2023, Solana’s meme coin mania started with BONK and WIF.
Despite being in its infancy, Wen (WEN) managed to become one of the seven most popular Solana (SOL) coins in terms of holder count.
Also, unlike other meme coins, according to its team’s statements, Wen (WEN) introduced a number of tech novelties to Web3.
Wen (WEN) became the first cryptocurrency coin based on a fractional NFT. Also, its team pioneered the WNS 0.0 NFT standard.
A total of 70% of the aggregated token supply was distributed to 1 million wallets on the Solana (SOL) blockchain for free earlier this year.