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bitcoin
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$4,504 -0.69%
binancecoin
BNB (BINANCECOIN)
$927.78 0.73%
solana
Solana (SOLANA)
$235.64 -0.73%
ripple
XRP (RIPPLE)
$3.03 1.15%
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Shiba Inu (SHIBA-INU)
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WLFI Price Forecast: Why WLFI Could Rocket to $0.50 Soon

Highlights:

  • World Liberty Financial is consolidating between $0.232 and $0.181
  • WLFI is pushing towards the $0.232 resistance
  • A rally through this resistance could push WLFI to $0.50 short-term

World Liberty Financial (WLFI) is one of the top 100 cryptocurrencies in the green today. In the last 24 hours, World Liberty Financial has gained by 4.87% to trade at $0.223. While the price is increasing, World Liberty Financial’s trading volumes have decreased in the last 24 hours. They are down by 33.18% to stand at $926.03 million in the previous 24 hours. 

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This indicates that the average investor in WLFI is unwilling to trade and expects the price to do even better going into the future. This is a big vote of confidence for WLFI, given that the broader market has sent mixed signals. Such confidence in WLFI from holders could incentivise other players to come in and drive FOMO in WLFI in the future. A couple of factors support the buildup in bullish momentum in WLFI. 

Token Buy-Back Program Helping Push the Price Higher

One of them is the fact that the WLFI community has backed a buy-back and burn program. Under the plan, all transaction fees generated from WLFI positions on the Ethereum blockchain and other chains where it trades will be burned. This is a big deal as the more WLFI is adopted, the more supply will shrink. The result is that WLFI could go up over time, and weather market volatility better than other cryptocurrencies.

Its price action in the last 24 hours, when most top 100 cryptocurrencies are in the red, signals what could happen once the token burn gets into top gear. The buildup in FOMO due to the buyback and burn strategy could see WLFI rally to new highs in the foreseeable future.

Expanding USD1 Adoption Could Push WLFI Higher

WLFI is also getting a boost from expanding the USD1 stablecoin, which is part of its ecosystem. The USD1 stablecoin is already running on multiple blockchains, a factor that could see its adoption skyrocket and contribute immensely to the WLFI token buyback and token burns. The best part that could drive FOMO into WLFI is the nature of the players adopting the USD1 stablecoin.

Big multinational organisations and countries are taking an interest in it. For instance, a top Abu Dhabi-based organisation has announced that it will use USD1 for large transactions, a factor that is critical in taking USD1 to the mainstream of stablecoins. Such strategic adoption and the intricate relationship between USD1 and WLFI could send WLFI to new highs in the foreseeable future.

Association with Donald Trump Could Push WLFI Higher

Then there is the association of WLFI with the US president and his family. While some have put into question the ethics of it, the association to Trump could play a role in bringing in investors to WLFI. That’s because by virtue of its association with the President, WLFI is unlikely to be on the wrong side of regulations. At the same time, it could influence big institutional and sovereign investors to buy WLFI, a factor that could help in driving the price higher over time.

Technical Analysis – WLFI Consolidating With Bulls Gaining Control

World Liberty Financial is consolidating between the $0.232 resistance and $0.181 support. However, bulls are gaining momentum, an indicator that the $0.232 resistance could soon come under pressure. If bulls take control and breach the $0.232 resistance, a price rally as high as $0.50 could follow in the short term.

WLFI
Source: TradingView

On the other hand, if bears take control and push WLFI through the $0.181 support, then a correction to prices below $0.10 could follow. Of these two scenarios, the odds are higher for a rally through the $0.232 resistance, due to the buildup of bullish momentum.

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