WLFI, this cryptocurrency project, which is under the halo of the 'Trump family endorsement,' plummeted from $0.46 to $0.18 just four days after its launch, with a market value evaporating by over $6 billion. Behind this farce lies the project's 'destruction promise turned into a numerical game,' shifting blame to Sun Yuchen, and a community vote that has turned into a 'Ponzi scheme' with three layers of harvesting tactics.
Destruction Farce: Can 0.047% 'mosquito blood' save the market?
WLFI once boldly announced the destruction of 47 million tokens, attempting to boost the coin price with this move. However, this action is merely a drop in the bucket against a total supply of 100 billion tokens, not even qualifying as a 'psychological placebo.' Ironically, the destruction process is opaque, with no on-chain evidence, leaving investors with no choice but to passively accept 'official statements.' Meanwhile, 20 billion tokens unlocked on September 1st flooded into the market like a tide, directly crashing the coin price. The destruction promise ultimately became a self-directed farce of 'mosquito blood' by the project party.
Shifting Blame Drama: Sun Yuchen 'takes the fall' as the scapegoat
After the price crash, rumors suddenly circulated that 'Sun Yuchen's dumping caused the collapse.' However, on-chain data shows that the largest sell order came from an anonymous address, unrelated to Sun Yuchen. The project party's action is merely an attempt to shift the blame, pushing the responsibility for the collapse onto 'external investors,' covering up the essential issues of concentrated token distribution and immense unlocking pressure. Sun Yuchen's 'taking the fall' this time once again exposes the absurdity of the 'blame-shifting culture' in the crypto circle—when the project party is incompetent, they just pull in a celebrity to take the blame.
Voting Trap: Community Governance Turns into a 'Ponzi ATM'
WLFI claims that 80% of the remaining tokens will be decided by community votes for unlocking, and that the treasury tokens will not be sold. However, voting power is highly concentrated and manipulated by early investors, and the purpose of the treasury funds remains a mystery. Data shows that after unlocking, the treasury recharged 50 million USD1 to Binance, with an unknown purpose. Once community voting spirals out of control, the vicious cycle of unlocking and dumping will completely destroy the coin price. The so-called 'community governance' is merely a 'Ponzi ATM' set up by the project party to delay collapse and continue harvesting retail investors.
$0.18 is it a bottom or a trap? Aze helps you see through it at a glance!
Currently, the battle between bulls and bears over WLFI is intense. However, no matter how strong the endorsement from the Trump family is, it cannot cover up the reality of the project's flawed token economics, damaged team credibility, and collapsed market sentiment. For ordinary investors, it is recommended to cut losses immediately and stay away from this 'political halo + token economy + governance scam' triple bubble project.
The collapse of WLFI once again proves: in the crypto circle, trust is the most expensive luxury, while harvesting is always the simplest business. Want to gain more insights into the crypto circle and avoid investment traps?
