The launch of Solana’s WEN meme coin has been among the biggest crypto stories of the last few days, but the airdrop is already finished as of Monday morning—and hundreds of billions of unclaimed tokens were burned, substantially cutting the WEN supply.

WEN holders who claimed the tokens or bought them from exchanges began dumping them en masse after the claim ended, sending the price plunging after a weekend of sizable gains that peaked early Monday.

The token price dropped 22% in an hour late Monday morning, according to data from CoinGecko, with the biggest dip coming in the minutes after the project creators burned more than 271 billion tokens—or $35 million worth at the time.

That’s over 27% of the total token supply, representing nearly 39% of the total airdrop allocation that wasn’t claimed before the deadline. WEN’s airdrop claim ended Monday at 10am ET, as planned, which means any tokens not claimed by eligible
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Author: Andrew Hayward

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