All You Need to Know About the Meteora Airdrop | Credit: Hameem Sarwar
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Key Takeaways
Meteora (MET) had its Token Generation Event (TGE) on Oct. 23.
The airdrop went without any issues, but the MET price crashed.
Can MET regain its footing, or will it continue sliding downward?
Meteora (MET) had its airdrop and Token Generation Event (TGE) on Oct. 23, marking one of Solana’s most anticipated launches in 2025.
Meteora is Solana’s largest decentralized exchange (DEX), with over $1 billion daily volume and $854 million in total value locked (TVL).
While the launch was without issues, not everyone is celebrating since the MET price has already crashed relative to its pre-listing futures price.
Let’s examine the airdrop and determine where the MET price will head next.
Meteora Launch
The Meteora airdrop went smoothly, and data from Artemis shows that the daily volume is $633 million, the daily fees are $4.5 million, and the daily revenue is $580,000.
On-chain data reveals that three addresses involved with the Donald Trump team have received a $4.2 million airdrop of MET and promptly deposited it on OKX.
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Meteora’s tokenomics show that only 48% of the supply is circulating. The three biggest allocations belong to Mercurial Stakeholders and the Liquidity Provider (LP) stimulus plan.
From the non-circulating portion of the supply, the Meteora Ecosystem Reserve holds 34%, while the team holds 18%.
While the airdrop process itself faced minor criticism, the market’s reaction has been harsh.
MET has plunged from its $1.70 pre-listing futures price to a low of $0.51, before a modest recovery.
Some analysts argue this reflects a broader trend. Despite impressive fundamentals, Solana-based DeFi projects like Jupiter and Meteora continue to trade at significantly lower Fully Diluted Valuations (FDVs) than Ethereum giants such as Aave (AAVE) and Uniswap (UNI).
This suggests that Solana’s user base still favors memecoins and speculation over traditional DeFi adoption.
MET Price Crashes
The MET price has fallen since its listing high of $1.71 on Oct. 11. After an initial downward movement, it bounced on Oct. 18 (green icon), validating the channel’s support trend line.
However, another decline started on Oct. 22, taking MET to a new all-time low price of $0.50, creating another bounce at the channel’s support trend line.
However, MET still trades in the channel’s lower portion, making an eventual breakout less likely.
In addition to this, the Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) have not generated any bullish divergences.
The RSI is below 30 while the MACD is still negative.
As a result, while the MET price could continue its bounce toward the channel’s midline, there are no signs of a bullish trend reversal yet.
Final Thoughts
While Meteora’s TGE and airdrop went smoothly, the market’s response has been anything but bullish.
Despite strong fundamentals and dominant DEX metrics on Solana, MET’s sharp post-launch decline highlights lingering concerns about valuation and investor appetite in Solana’s DeFi space.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
