Donald Trump’s inner circle loads the boat with millions of WLFI: is this the bottom?
Donald Trump’s inner circle is back aggressively re-buying World Liberty Financial (WLFI), the native token of the Trump family-backed decentralized finance (DeFi) platform. According to data from LookOnChain, World Liberty Financial’s dev team went on to spend $7.79M USD1 to purchase 46.56 million WLFI tokens at an approximate price of $0.1674.
This on-chain buy-back activity briefly sparked an 8% rebound campaign for the said altcoin, but WLFI couldn’t manage to keep above the $0.17 resistance line. With both Spot & Futures trading volumes witnessing roughly 25% hikes, WLFI crypto shows signs of stabilization after a two-month downward spiral on the charts WLFI’s $0.26 milestone.
Bottom Or Bull Trap Served For WLFI Holders?
Breaking above the $0.17 range again could serve the boost WLFI’s bulls have longed for, as trading volume spikes are usually followed by price appreciation – unless the whales continue to sell. In WLFI’s case, the big-time crypto investor sentiment is positive for five days in a row, now depicted in the Chaikin Money Flow (CMF) on the 4-hour charts.
On the other hand, there’s 75.33B World Liberty Financial (WLFI) tokens waiting to be unlocked. This could result in mass inflation for the Donald Trump-backed DeFi altcoin, as previously seen with the United States President’s signature TRUMP Coin (TRUMP).
The PolitFi meme currency slid over 90% since the all-time peak of $73, hit on Inauguration Day, with millions of TRUMP coins still getting poured into the markets every week. Having no utility whatsoever, TRUMP coin differs from the DeFi-focused WLFI coin, powering the essence of the Donald Trump-backed crypto platform.
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