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The Wen price surged 48% in the last 24 hours to trade for $0.0001481 as of 2:45 a.m. EST time, with trading volume soaring 73%.
WEN is a Solana-based meme coin, with the latest surge seeing the altcoin surpass Shiba Inu (SHIB) on metrics of daily trading volume.
🚨 JUST IN: $WEN (@wenwencoin) flips $SHIB in 24-hour trading volume. pic.twitter.com/pZJmRkfgpZ
— SolanaFloor | Powered by Step Finance (@SolanaFloor) January 29, 2024
The surge in the Wen price comes amid airdrop euphoria, with the Solana ecosystem making headlines. This concerns the WEN meme coin drop with a target objective of reaching over a million wallets.
What is $WEN?
The new meme coin by @wenwencoin on #SOLANA has taken X by storm with 1 single airdrop worth over $100 USD at the time of this post. It has broken $150M market cap.
The keyword "$WEN" is trending with 3.84 million posts.
What is #WEN and why it's so hot 🔥?
🧵👇 pic.twitter.com/YYuvn9z3ZF— Walless | Web3 sandbox-wallet (@walless_wallet) January 29, 2024
Reports suggest that the airdrop strategy was part of a bigger plan to expand the ecosystem and includes Jupiter’s performance. Notably, Jupiter is a decentralized exchange (DEX).
🚨 BREAKING: $WEN (@wenwencoin) set to launch on Jupiter Exchange's LFG launchpad tomorrow, their Tokenomics are now live.
Airdrop: 70%
Liquidity Pool: 20%
Treasury: 10% pic.twitter.com/Y6wdiLf89d— SolanaFloor | Powered by Step Finance (@SolanaFloor) January 25, 2024
Wen Price Outlook Amid Airdrop Euphoria
Amid airdrop-related hype, the Wen price remains bullish, evidenced by the Parabolic Stop and Reverse (SAR) indicator trailing WEN from below. For as long as this price-tracking indicator trails an asset from below, the asset is bullish. Such is the case for the Wen price, with the Parabolic SAR indicator providing support at $0.0001160.
The position of the Relative Strength Index (RSI) at 65 also points to a strong price strength, while also suggesting there is more room north before WEN is considered overbought.
Increased buying pressure above current levels could see the Wen price extend the gains to clear the immediate resistance at $0.0001606. Further north, the gains could extend to the range high at $0.0001748, or in a highly bullish case, extend a neck high to tag the $0.0001800 psychological level. Such a move would constitute a 25% climb above current levels.
TradingView: WEN/USD 2-hour chart
However, the horizontal move of the RSI, coupled with the subdued and southbound inclination of the Moving Average Convergence Divergence (MACD) tilts the odds in favor of the bears. If profit booking extends, the Wen price could lose the immediate support at $0.0001370. In the dire case, the load-shedding exercise could extend for the Wen price to revisit the $0.00009202 support level. This would denote a 35% fall below current levels.
Even as the Wen price works out its next directional bias with airdrop-related hyped phasing out, investor attention has turned to MK, one of analysts’ top choices for meme coins to invest in.
$MK is on a meteoric rise, dominating the #memecoin space. Seize the opportunity and be part of the presale action: https://t.co/2x2FvsuR61
— Meme Kombat (@Meme_Kombat) January 27, 2024
Analysts are ranking it among the two hidden meme coins gems, right next to Sponge V2.
Promising Alternative To WEN
MK is the native crypto for the Meme Kombat ecosystem, a GameFi project advertised as “an innovative new gaming platform designed for gaming enthusiasts.” This innovative platform introduces distinctive features, including active betting and passive staking, providing diverse avenues for earning rewards, especially appealing to dedicated gamers.
gm on the last Monday of January '24 pic.twitter.com/N3otpWjwir
— Meme Kombat (@Meme_Kombat) January 29, 2024
The Meme Kombat ecosystem gives MK token holders a chance to battle out their issues in the arena, represented by meme characters of their choice. Selection can be based on mere preference or the betting odds.
We probably shouldn't be commenting on this but we love kombat so much that we had to get an answer. Who's winning?$SAVM or Ape Terminal? pic.twitter.com/bXUwPF4bNK
— Meme Kombat (@Meme_Kombat) January 25, 2024
The project has a competition running, with up to 300 USDT prize money for anyone who shows ”dank” meme skills.
Meme Kontest Time! 🔥
It's time for you to show your dank meme skills and for us to give away 900 USDT!!!
3 winners chosen at random and each will receive 300 USDT🤩
Wanna win some sweet cash? Follow the instructions in the thread below👇 pic.twitter.com/pTHLYJSYBG
— Meme Kombat (@Meme_Kombat) January 25, 2024
Meanwhile, Meme Kombat’s MK tokens are available for purchase in the presale stage. So far, collections have reached $7.6 million as it surges towards its $8 million target objective. The presale started in September 2023 and is now growing into a major player in the meme coin sector. It has attracted attention from both the crypto community and analysts.
The $7.6 million milestone has been put to bed!
We keep pushing! $25k giveaway at $8million🥊 pic.twitter.com/muZYlQPg4J
— Meme Kombat (@Meme_Kombat) January 28, 2024
Investors looking to buy MK can do so on the official website, where each MK token is selling for $0.279.
$MK is reaching new heights and taking the #memecoin world by a storm. Buy into the presale now! https://t.co/2x2FvsuR61
— Meme Kombat (@Meme_Kombat) January 27, 2024
Visit Meme Kombat website to buy MK here.
Also Read:
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