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What Caused the Sudden Fall of WLFI Coin?

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by Giorgi Kostiuk

2 days ago

The cryptocurrency WLFI Coin has seen a dramatic price drop following a significant surge, sparking speculation and discussions about potential market manipulation.

What Caused WLFI’s Sudden Fall?

WLFI Coin's value plummeted over 20%, despite a trading volume exceeding $2 billion. The team behind WLFI took the controversial step of freezing the wallet belonging to Justin Sun, which added tension to the market.

Speculation and Market Manipulation

Justin Sun has publicly denied claims of market interference, stating that the wallet merely engaged in minor transactions. However, investigations from WuBlockchain revealed that an estimated 60 million WLFI tokens were moved from HTX’s wallet to a Binance deposit address, raising eyebrows over potential market manipulation.

Future Outlook for WLFI Coin

Currently, WLFI Coin stands 66% below its peak, valued around $0.17. If significant developments or partnerships do not occur, the potential for continued price decline remains high.

Amid current market trends, WLFI Coin faces uncertainty and potential decline unless positive changes in business strategy are made.

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