Large-scale cryptocurrency investors are heavily investing in WLFI.
In the world of cryptocurrencies, WLFI has been making waves, with a notable increase in interest from some of the industry's biggest players.
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One of the key factors driving the interest in WLFI is the aggressive accumulation of tokens by whales. Over the past 24 hours, whale wallets have absorbed more WLFI tokens, with their holdings surging by over 43% to 113 million WLFI. Two large whale addresses, controlling over 56% of the voting power in WLFI’s governance, have been at the forefront of this activity. Additionally, the Trump family and his sons collectively hold just under 25% of WLFI’s total supply, suggesting their significant involvement in the whale activity around WLFI.
The Chaikin Money Flow remains distinctly positive, supporting a bullish dynamic for WLFI. If WLFI can break above the crucial Fibonacci resistance at $0.23, it could reach its liquidity zone between $0.33 and $0.40.
However, if WLFI were to revisit the $0.18 level, many short sellers would be forced to cover, potentially fueling a recovery move. This level is significant, as it also marks the last significant liquidation zone for long positions in WLFI, which could act as a major support for the token. Over $30 million worth of short positions are at stake if WLFI revisits the $0.18 level.
Currently, WLFI is trading just above $0.20. If it manages to maintain this level, it could be propelled towards $0.22 and potentially $0.24 and beyond. If WLFI avoids a break below $0.18, conditions seem ripe for an imminent rebound.
The coming weeks will be crucial in confirming (or not) a potential short-term rebound for WLFI. The stakes are high, with a potential rebound representing a rebound of nearly 72%, which could generate significant gains for investors. Keep a close eye on WLFI as the cryptocurrency market continues to evolve.
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