While there was still time before the November 2024 elections, the chances of Trump securing a victory seemed slim. However, as Trump began to gain momentum in recent weeks, the cryptocurrency market started to react. The pre-sale of WLFI Coin took place before Trump could guarantee his win and turned into a complete disappointment. Subsequently, circumstances took a different turn.
WLFI Binance Listing
Just hours ago, the perpetual listing on Binance occurred, marking the beginning of WLFI Coin’s trading well before its spot listings. Although the surge reached $0.55 following its Binance listing, a quick downturn ensued. With $0.44 being identified as a resistance level, WLFI Token, after making lower highs on the short-term chart, declined to a base of $0.22.
Currently, the closest resistance point stands at $0.308. However, as reflected in the chart, there appears to be little buying interest among traders who assume the downtrend will continue and so proceed to short sell. The reasons behind this significant price drop will be explored in the following section.
WLFI Token Announcement
Firstly, tokens issued on the Ethereum 
$3,334 network remained locked for a considerable period, preventing transfers. Anticipation reached a peak among early investors awaiting the first unlocking announcement, which was released yesterday. About 20% of tokens bought at costs of $0.015 and $0.05 will have their locks lifted. Even with rapid losses, early period investors can secure profits if the current price level holds as they start selling.
The remaining 80% of the supply will depend on the governance vote results, with strategic decisions guiding their release. Tokens reserved for founders, partners, advisors, and team members will remain locked during this initial phase.
WLFI Lockbox’s smart contract was audited by Web3 security firm Cyfrin, following which the unlocking announcement process was outlined. Initially, early investors entitled to tokens will access the official website to activate Lockbox, facilitating the movement of WLFI tokens there. As compliance confirmations for pre-sale participants are largely completed, they can swiftly transfer tokens to Lockbox. Lockbox is set to open on 25th August at noon ET. Users are required to finish the Lockbox transaction by 1st September, 8:00 AM (ET) (12:00 UTC).
After 1st September, tokens will be released, coinciding with exchange listings, enabling investors to sell their tokens. Yet, with the cost ceiling at $0.015, short selling is predicted to continue for a week until futures approach this region, considering the current price premium.
