The price of World Liberty Financial (WLFI) has dropped by 7% in the past 24 hours to $0.2239, marking a significant decline since it reached over $0.46 earlier this week. This drop follows a strategic token burn designed to boost confidence among investors and the project’s long-term success. However, concerns remain as the token faces increased selling pressure and struggles to attract new buyers amidst broader market uncertainty.
Despite the burning of 47 million tokens as part of its efforts to bolster investor confidence, the price has plunged significantly. Insider trading appears to be a contributing factor to this sell-off, with some insiders unloading their holdings shortly after launch, leading to an abrupt drop from $0.46 to $0.25 within a short time frame.
The price decline has triggered a mixed response on social media. While some traders applaud the team’s transparency and commitment, others urge for more concrete updates regarding partnerships or use cases beyond token burns to revitalize investor confidence in WLFI’s future.