Last week, there was a notable increase followed by a decrease in pre-market trading prices. During that period, it was mentioned that the price of WLFI Coin was above its expected level. Indeed, once the tokens were released, the predicted downturn occurred. However, someone seems to have seized this anticipated decline to hasten its onset.
WLFI Coin’s Decline
WLFI Coin has continued with more than a 20% loss, maintaining a volume exceeding $2 billion. Moments ago, the WLFI team announced the freezing of Justin Sun’s wallet. Hoping to establish a close relationship with Trump, Justin Sun engaged in speculation via his HTX exchange to profit during the listing process of WLFI.
We have witnessed days when Justin Sun was in the spotlight due to various altcoins bringing up complaints about pre-market listings and fake token sales. WuBlockchain recently reported that on-chain data indicated HTX address “HTX 48,” transferred approximately 60 million WLFI tokens to a Binance deposit address within the last 32 hours.
In response, Justin Sun asserted that their address merely conducted some minor deposit tests followed by address partitions without any buying or selling, insisting it could not have impacted the market. The true speculator will soon be identified, and if Sun is involved, the Trump family will not let this matter go. Sun might be negotiating by offering to purchase more tokens to resolve issues amicably. However, any tension with Trump could result in unfavorable outcomes for TRX.
WLFI Coin Pricing
Warnings were issued on August 24 and 27 regarding WLFI Coin’s price during pre-spot listing trade in futures pairs. The predictions involved tokens bought at costs between $0.015 and $0.05, with 20% unlocking in a week. Expectedly, the anticipated movements began although the price hasn’t fallen to drastic levels yet substantial losses have been endured.
The price that initially surged to $0.55 set a resistance at $0.44 before declining to the $0.22 base, now standing at $0.17. It was anticipated that after September 1, tokens would be unlocked alongside exchange listings, facilitating investor sales. Unless the futures approach the $0.015 cost ceiling, short-selling might persist for a week due to the current price premium.
Currently, the price is 66% below the ATH point in the spot listing. Given the significantly lower token cost, a gradual drop over the coming weeks wouldn’t be surprising unless substantial investments, partnerships, unlocking delays, or notable token burns are announced. Otherwise, the decline could accelerate at the hands of Sun or others.
