WLFI Token Plunges Amid Early Unlocks and Controversy
World Financial Liberty (WLFI) token experienced a significant price drop, falling over 20% in a single day. This decline extended a multi-week sell-off that has wiped out nearly half of the token’s market value.
On October 10, WLFI traded as low as $0.1405, a sharp drop from its September high of $0.252. The token’s value has been under pressure due to several factors. Early token unlocks and whale dumping are the primary culprits.on September 1, 20% of presale tokens were unlocked, flooding the market with liquidity. Many early investors cashed out, causing the price to plummet.
Controversy also played a role. The WLFI team froze tokens belonging to Justin Sun, a major backer.This move eroded trust in the project. Additionally, WLFI sold 100 million tokens to Hut 8, a Bitcoin mining firm, for $25 million. While this transaction was minor compared to the token’s $3.6 billion market cap, it fueled fears of insider selling.
Other trump-related projects are also feeling the heat. The Official Trump (TRUMP) memecoin lost 3.1% on the day,adding to its monthly loss of 18%. TrumpCoin (DJT),unrelated to the trump family,fell by 38.4%.
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