Is the price decline of WLFI due to unlocking?
difficult to say guys … lets hope for best
You cut the time frame off, but the beginning of that chart is right when the token hit the market. Great volatility followed by stabilization and consolidation. Then is the Candle Of Doom from October that wrecked the entire sector, nothing specific to WLFI. Since then it has been recovering steadily. Why are you FUDding?
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This is the basis.
The price drops because people want to sell off the tokens they bought cheaply in the presale at the highest price after launch. Since the price doesn’t drop to the presale price, no one else wants to buy it, so the price remains low.
Caused by pre-sale users.
It’s easy to blame just Justin Sun. This is where presale users need to look at themselves. As it stands now, it only creates a disconnect between administrators and users. Therefore, it remains locked from management.
I’d argue that your very premise is invalid: the price is not and has not been “low” since hitting the market. Average pre-sale price was 0.0325. The token hit the market and entered its very first price discovery. The price at launch is irrelevant compared to the price at stabilization. The price quickly (as in Day-1) stabilized at around 0.22, up almost 600% over presale price. The token consolidated in that 0.20 neighborhood until the October 10 bloodbath happened, affecting the entire market, no WLFI specific fundamentals involved. A removal of liquidity from the entire market. WLFI bottomed out at 0.07 before quickly bouncing back and stabilizing at about 0.13. It has since climbed back to 0.17, up 140% from the bottom of that candle and about 30% from where it resumed consolidation. and still up over 400% from presale. You are trying to analyze a problem that doesn’t exist. It will help to look at a proper candle chart rather than the smoothed and homogenized line graphs on CMC. Here is the entire history of WLFI since hitting the market shown in Daily candles:
If you remove exactly one candle, the very first one which represents one day of price discovery, it looks like this:
A healthy consolidation marred by the October 10 Candle of Doom that had nothing to do with WLFI specifically and from which it is recovering well. If you bought just before October 10, then yes, you are down 15% or so, but the whole market is still down and WLFI has recovered stronger than a great many other tokens. You are analyzing and assigning blame for a problem that doesn’t exist. WLFI is doing just fine.
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Your accurate analysis made my anxiety disappear.
May be guys …. who knows