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Trump-Backed WLFI Token Struggles Despite Burn Mechanism
Trump-Backed WLFI Token Struggles Despite Burn Mechanism
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BTCCSquare news:
World Liberty Financial's WLFI token, backed by the TRUMP family, has initiated a burn mechanism to counter its post-launch decline. On-chain data shows 47 million WLFI tokens were permanently removed from circulation on Sept. 2, representing just 0.19% of the total 100 billion supply. The token has fallen 32% from its debut peak of $0.331.
The project proposes expanding the burn strategy by using protocol-owned liquidity fees for regular buybacks. While community sentiment appears favorable, with majority support in preliminary discussions, the token continues to face downward pressure amid broader skepticism toward celebrity-endorsed cryptocurrencies.
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