WLFI Token Burn Aims to Boost Price Momentum
World Liberty Financial (WLFI) took steps to bolster token value by burning 47 million coins on September 2. This reduction constitutes a small percentage—just 0.19%—of the current circulating supply. Despite this action, the WLFI price remains stagnant near $0.23.
After dropping sharply by around 55% from its post-launch high of $0.46, the currency has formed a consolidation zone. The immediate support level holds steady near $0.21, while major resistance hovers between $0.25 adn $0.26.
There are indications that the market is indecisive; charts show small candle movements and reduced trading volume, suggesting a lack of strong direction or participation.
- 47M WLFI tokens burned to reduce supply
- The price has not recovered despite efforts
- Sideways consolidation suggests market uncertainty
To potentially lift prices, WLFI introduced a community-supported plan for continuous buybacks using liquidity fees. If implemented, this initiative could inject deflationary pressure, promising a brighter outlook for WLFI.
For more insights, check the latest updates on the official twitter channel.
