What happened?
The crypto market plunged in a flash crash around Oct 10—about $19 billion in liquidations knocked big chunks off BTC and ETH—then rebounded to over $4 trillion by Monday. Wall Street Pepe (WEPE) kicked off its bridged Solana airdrop on Oct 14–15, officially unifying the token across Ethereum and Solana. Its Solana early access phase burned 5.2 billion WEPE (cutting supply by roughly 2.6%), automated bridged distributions are due to hit wallets, and the token rallied about 11% as markets steadied.
Who does this affect?
Retail and institutional crypto traders who felt the liquidation shock and anyone watching risk assets are affected by the rebound and renewed buying pressure. WEPE holders and early-access participants benefit directly from the burns and the automatic Solana distributions, while meme-coin speculators and NFT collectors could see changes in value and liquidity. The Ethereum and Solana ecosystems, plus wallets and exchanges that list or support WEPE, may see higher trading volumes and cross-chain activity.
Why does this matter?
Burns that reduce supply and a new Solana bridge can create scarcity and expand WEPE’s liquidity pool, increasing the likelihood of upward price pressure. With the broader market stabilizing and sentiment moving toward neutral, returning investors might funnel fresh capital into meme coins like WEPE, which can boost trading volume and volatility. That said, the setup is still speculative—while it can spark rallies, it can also amplify price swings if market sentiment shifts again.