Solana’s $WEN Regains 50% of Losses, But This New Memecoin Steals The Crown

On January 27,  news of Solana’s new memecoin, $WEN, made headlines in crypto. The Token was airdropped to the network’s community participants and app users. This generated hype that attracted other enthusiasts who immediately signed up, hoping to score free $WEN tokens. As expected, this increased the token’s value, price and popularity.

Almost three weeks after its launch, market experts have had enough time and data to gauge $WEN’s performance. So, how does $WEN compare to leading memecoins like $GFOX? Let’s find out.

$WEN’s Crypto Journey

$WEN is Solana’s fractional NFT. It was launched in January 2024 as a “joke” meme to mimic crypto enthusiasts frequently asking when a coin will be launched, hence its name “WEN.”

On January 27, 2024, $WEN was airdropped to about 1 million wallets of the network’s NFT holders, Solana-themed Saga smartphone owners, and Jupiter DEX traders.

To make the new $WEN token more accessible, the network designed the WEN New Standard (WNS) as an open-source creation system. Here, the Token can be easily accessed by all community members. Despite its accessibility, Solana has maintained a simple $WEN distribution plan. 70% of the Token is reserved for airdrop distribution, 20% is held in a liquidity pool, and 10% is the WEN Treasury to support the Token’s future development.

According to the network, all tokens not claimed on or before January 29, 2024, were burnt. In response to the likelihood that 27% of the airdropped tokens were unclaimed and burned, many investors withdrew their support, and thus, the price of $WEN dropped.

Statistics show that most of the claimed tokens were claimed on the first day, after which the hype began to dwindle. The network has reported that the majority of $WEN tokens were distributed as a free airdrop to promote the LFG Launchpad on Jupiter exchange.

Reports have shown that $WEN had a very successful launch, with $50 million of Jupiter’s daily trading volume coming from WEN, making it one of the most popular meme coins for a couple of days. The Token could have maintained its price if the exaggerated news that the network has burnt almost 50% of tokens assigned to be airdropped. This news raised doubts about the Token’s viability in the long run.

In recent events, $WEN’s listing on two exchanges has influenced its price by almost 50% from its last price drop. Within the first day of its listing, $ WEN’s trading volume and market cap increased to $38,709.95 and $91,383.00, respectively.

Analysts have reported that $WEN has now passed its volatility phase; thus, the coin has a potential for smaller price fluctuations. While the Token may not give investors huge profits, it will maintain a decent increase over time. So, if you are looking for huge profits, $WEN is not your best bet.

Is $GFOX the Next Crypto Hit?

$GFOX Galaxy Fox‘s native Token. The Token was initially designed as a play-to-earn gaming platform, but its utility has grown past its player rewarding web3 runner game.

The token has a limited supply of 5 billion and powers various activities in the Galaxy Fox ecosystem. Its utilities include players’ rewards, staking, and NFT purchases. Galaxy Fox has been audited and approved by a top-notch auditing company, Crypto Hub, so you can rest assured that your investments are safe.

Within a few weeks of its launch, $GFOX surpassed its $200,000 sales mark. This attracted a number of investors who pushed the coin past its $2 million mark in a matter of weeks. This is evidence that the coin was steadily gaining momentum and investor interest.

In January 2024, $GFOX surpassed its $3 million mark, and it’s currently heading to making a $5 million record. With its records since its launch, analysts are confident that the Token will achieve this impressive feat soon.

According to statistics from $GFOX, each stage of its presale is marked with an impressive price leap. This can be attributed to the network’s growing community of holders, token holders, and dynamic pricing mechanism.

$GFOX holders can increase their holdings and generate more profit. Holders can earn passive income from staking the Token, playing games on the Galaxy Fox platform, and participating in the Token’s presale.

Aside from its multiple utilities, the platform has announced its intention to launch a unique NFT collection. According to the platform, the NFTs will be exclusively reserved for its token holders. With these offers, $GFOX is set to outperform other cryptocurrencies and reward early holders in multiple ways.

Join The GFox Presale

Final Thoughts

$WEN’s journey in the crypto space can be summarized by a successful launch, a sharp drop in price due to unclaimed tokens, and a slim potential for upward price movements. However, if you want a coin with more profit potential, then $GFOX is the way to go. This Galaxy Fox Token has multiple utilities at a price that can earn investors 100x their initial investment. With its current price, there is no better time to buy $GFOX.

Learn more about $GFOX here:

Visit Galaxy Fox Presale | Join the Community

Disclaimer: This Press release article is provided by the Client. The Client is solely responsible for this page’s content, quality, accuracy, products, advertising, or other materials. Readers should conduct their own research before taking any actions related to the material available on this page. The Crypto Basic is not responsible for the accuracy of info and any damage or loss caused or alleged to be caused by the use of or reliance on any content, goods, or services mentioned in this press release article.

Please note that The Crypto Basic does not endorse or support any content or product on this page. We strongly advise readers to conduct their own research before acting on any information presented here and assume full responsibility for their decisions. This article should not be considered investment advice.