Will Coinbase List WEN? Experts Spot Strange Transfer

A large transfer of $180,000 worth of USDC from an account associated with the WEN project to Coinbase has sparked speculation about a possible listing on the US-based cryptocurrency exchange.

Coinbase to List WEN?

The transfer, which occurred on April 10, has led some experts to believe that WEN may be preparing to be listed on Coinbase. However, there is no official confirmation from either WEN or Coinbase at the time of writing this line.

$WEN yesterday transferred $180.000 to @coinbase

Smells like listing? 🙄

Hold your bags 💼

TX: 3CkMqSgVyWeHf8BbQhsNfwxK4PB1CwRVnc84XNtGfKwDEafsditsvwDnXokWvhH5TtUFkZ6ASfvKX6LpNkevEZ4a pic.twitter.com/aObjjy30ew

— L3G3ND🗿 (@LegendEatsFirst) April 12, 2024

This transfer could also be for several other reasons, such as the WEN project moving its funds to a different wallet or exchange. 

What is WEN?

Based on fractionalized non-fungible token (NFT) of a poem, WEN is a relatively new memecoin on Solana that aims to push the boundaries of meme-based cryptocurrencies. WEN tokens represent proportional ownership in “A Love Letter to Wen Bros,” a poem by Meow, Jupiter’s founder.

Upon launch, 70% of the tokens were airdropped to over a million users. WEN has a current circulating supply of 727.7 billion and a maximum supply of 1 trillion coins.

WEN has gained considerable traction since its conception earlier this year. For instance, it recently secured listings from several prominent cryptocurrency exchanges, including CryptoCom and Bybit. These listings also sparked speculations of whether Coinbase might be the next in line to list the token. This latest transaction between the WEN project and Coinbase further solidifies these speculations.

Notwithstanding, no official confirmation from either WEN or Coinbase on the potential listing yet exists. Only time will tell what the true purpose of the transfer is.

Meanwhile, several other Solana-based memecoin have already secured a place on Coinbase. One of these memecoin is BONK. Following the listing, BONK spiked over 40% to become the third largest memecoin offered on Coinbase — trailing only Dogecoin (DOGE) and Shiba inu (SHIB). It is expected that WEN’s price will also skyrocket upon Coinbase listing.