The Wen Foundation launched Monday morning that the total provide of its Solana-based totally memecoin, which has a market capitalization of roughly $129 million, will decrease by about 25% following the stay of its airdrop.

Crypto customers who like within the previous six months transacted on Jupiter, a Solana-based totally decentralized substitute swap aggregator, had just a few days starting on Jan. 26 to yelp WEN free of fee, with Monday being the closing day for customers to yelp their allocation. According to the token’s creators, unclaimed tokens will be burned.

The price of WEN has dropped roughly 7% within the previous hour to $0.0001283, per CoinGecko.

WEN’s full provide within the period in-between stands at 1 trillion tokens. WEN’s issuers distributed 70% of the total provide for the community airdrop. Files from on-chain analytics agency Flipside Crypto presentations that crypto customers like claimed over 428 billion tokens. For that reason approximately 272 billion tokens, valued at round $35 million at most unusual market costs, will be burned.

“Burning provide customarily results in costs increasing. On the opposite hand, it could in point of fact in all probability maybe per chance also simply factual be a self-handsome prophecy. Memecoins make now not like any loyal fundamentals,” wrote a Solana-DEX dealer who got and sold his WEN airdrop. The dealer, who asked to stay anonymous, added that “burning provide is a meme… As a ways as I know, there’s no launched utility for WEN (rate allotment, etc) so it’s factual a meme.”

In an anticipated event, Jupiter will be airdropping its contain JUP token on the stay of January. WEN became as soon as supposed to stress test the Solana network as the WEN airdrop became as soon as “a loyal-world test of our bot mitigation measures and our operational competence” wrote Jupiter’s pseudonymous founder who goes by the screenname “Meow” on X on Monday.