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WLFI Price to Launch BuyBack and Burn Plan as Bulls Sight $0.25-$0.30 In the Short Term

Highlights:

  • The price of WLFI is showing signs of life, flying all the way to $0.20.
  • The WLFI governance vote for a buyback and burn has been officially passed.
  • WLFI secures Crypto.com listing as bulls sight $0.25-$0.30 mark in the near term.

WLFI price is showing signs of life, up $0.20 by 0.88%. This comes as the $WLFI token community has voted almost unanimously in favor of 100% usage of the treasury’s liquidity fees for buybacks and burns. The team will use a portion of the fees and revenues from the treasury to buy back WLFI and burn it, thereby lowering the circulating supply.

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The buyback and burn program will increase the scarcity and demand for $WLFI. Therefore, the price of the token is likely to go up in the coming days. All burns and buybacks will be public to ensure transparency, credibility, and trust within the community.

Notably, WLFI price has now started trading on Crypto.com, which allows users to easily buy and sell the $WLFI token using assets such as USD, EUR, and 20 other fiat currencies. Users will be able to purchase their $WLFI with USD, EUR, and over 20 other fiat options, allowing for seamless transactions. 

WLFI Price Outlook: Is a Rally to $0.30 Imminent?

According to the latest technical analysis of $WLFI/USD, the token has dropped over 20% from its recent high since its launch. However, with the recent buyback and burn plan, which has garnered almost all community support, WLFI’s price could be poised to rebound. Currently, the immediate resistance sits around $0.21, aligning with the 50-day SMA. If the bulls overcome this level, a clear path to $0.25-$0.30 could be plausible. 

WLFI price
WLFI/USD 4-hour chart: TradingView

The Relative Strength Index (RSI) of 48.45 indicates that the token has not yet entered oversold territory. As a result, it could recover in the future if the bulls build stamina and strike above the 50-mean level. Also, the formation of a descending triangle on the chart suggests that $WLFI may be due for a breakout. A breakout can occur in either direction, depending on the market’s developments.

However, the MACD indicator shows a bearish divergence, as the blue MACD sits firmly below the signal line. Traders should be cautious as a sell signal is evident in the WLFI market.

What’s Next for WLFI?

In the short term, WLFI price could move up to that $0.21 resistance level. The breakout and momentum suggest investors could still gain if they enter now, but timing is key. If it dips back to $0.19, that could be a prime buy zone for the risk-takers. 

Meanwhile, with the recent CEX listings and the buyback and burn plan, there might be a test at $0.25-$0.30 or more by mid-October, especially with the crypto market turning bullish. On the other hand, traders should be cautious, as the sell signal from the MACD suggests that a further downside to $0.19 could be plausible.

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