The World Liberty Project has made a significant governance step to increase long-term growth and the WLFI price. This move comes after the token’s price has achieved a steady decline, dropping 57% under its all-time high of USD 0.46. At the time of writing, the WLFI token is trading at $0.19, with around 4% losses for the day and about 14% a week.
Summary of the Governance Decision
The WLFI token has been struggling to hold $0.19 over the support zone. A new vote was passed by Governance to assign 100% of the financial fees for return purchases and burns. The Relative Strength Index (RSI) is at 40.23, signaling a weak impulse, but the supply reduction could take up a long-term rally. The token is exposed to strong sales pressure near the zone from $0.21 to $0.22, but has support at $0.18.
The Impact of the Governance Decision on WLFI Price
Despite the news, the WLFI price remains under bearish pressure. After experiencing a resistance of $0.25, the token was in a downward trend. The assignment of liquidity fees for return purchases signals a strategic shift towards long-term value preservation, a step that is often welcomed by token owners. The team has also committed to publishing every buyback and token burn after execution, which could lead to a significant reduction in the circulating supply of the token.
The decision to assign 100% of the liquidity fees to finance return purchases and burns is theoretically optimistic. However, whether it will reverse the WLFI price decline or slow it down remains to be seen. The token’s price is currently struggling to hold $0.19 over the retaining zone. If this level does not apply, the next support is around $0.18, while every upward movement is exposed to a strong sales pressure near the zone from $0.21 to $0.22.
Technical Analysis of the WLFI Price
Technical indicators support the weakness, with the Relative Strength Index (RSI) at 40.23, signaling bearish pressure. The token’s price is currently under pressure, and the supply reduction could take some time to create an enormous deflation contract. The team’s commitment to publishing every buyback and token burn after execution could lead to increased transparency and trust among token owners.
Wlfi price diagram | Source: crypto.news
For more information on the WLFI token and its price movements, please visit https://crypto.news/can-wlfi-price-rally-with-100-of-treasury-liquidity-fees-allocated-to-buybacks-and-burns/
