WLFI Token Hits All-Time Low After 47 Million Burn Event
World Liberty Financial (WLFI), co-founded by Eric Trump and Donald Trump Jr., is experiencing a significant selloff. Key points include:
- WLFI launched on September 1 with a circulating supply of 25 billion tokens.
- The team burned 47 million WLFI on September 3 due to price fluctuations.
- Despite the burn, WLFI dropped to an all-time low of $0.179 on September 4, with a market cap under $4.5 billion, down from an all-time high of approximately $8 billion.
- An investor lost $650,000 after purchasing 7.4 million WLFI for $2 million.
- Critics are labeling the project as a potential rug pull, with WLFI over 60% below its peak price of $0.46.
- Concerns about centralization and insider trading persist, despite no hard evidence of a rug pull.
- WLFI is listed on major exchanges including Binance and Coinbase, providing liquidity for investors.