Solana-Based Meme Coin Surges 30% and Surpasses Shiba Inu in Trading Volume

The Solana-based meme coin Wen (WEN) has seen an impressive surge, registering a 42.64% increase in its daily trade. 

The coin, which trades under the ticker WEN, has surpassed the well-known Shiba Inu ($SHIB) in terms of 24-hour trading volume. The price jump to $0.0001454 comes amidst a broader wave of excitement in the meme coin sector.

The top meme coins

Dogecoin (DOGE), with its robust market capitalization of over $11 billion, remains the biggest meme coin by far despite a 5.10% decrease over the past week. 

Meanwhile, Bonk (BONK) and Shiba Inu (SHIB) have seen their values fluctuate, with BONK experiencing a modest weekly gain of 3.76% against SHIB's 2% dip. 

An outlier in this group, Wen, has rocketed by 46.44% in a day, though it also presents a stark 100% drop over the previous week, stealing the spotlight.  

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The 24-hour trading volumes are telling, with WEN pushing a substantial $120 million, indicating a heightened trader interest which may be attributed to recent market activities or developments specific to the coin.

An airdrop frenzy 

Solana's ecosystem has been buzzing with activity, particularly with the Wen meme coin drop that aimed to reach over a million wallets. 

This event held the network stable but also introduced significant price volatility. WEN's airdrop strategy appears to be part of a broader initiative to expand the ecosystem, which includes the decentralized exchange (DEX) Jupiter's remarkable performance. 

Jupiter has recently outshone the Ethereum-based Uniswap V3 in 24-hour trading volume, with a noteworthy $519.8 million compared to Uniswap's $510 million.