Investors holding significant amounts of WLFI, a token linked to the Trump family, have suffered huge losses over the past three days, according to data from OnChain Lens. The losses come as WLFI retraces from its all-time high of $0.33 set on September 1st. It’s now trading at $0.21, down over 40% since its launch.
Who is Counting Losses?
Onchain Lens’ data has revealed several whales affected by WLFI’s downtrend. For instance, a whale behind a wallet whose address ends in 0x432 was forced to close a leveraged long trade on WLFI and lost over $1.6 million. Interestingly, they opened another long position on the token a few hours after exiting the previous one and managed to net nearly $400,000. So, the whale lost about $1.2 million from trading WLFI.
Another whale whose wallet address ends in fa7c2 bought WLFI tokens worth $2 million at the start of the month, but their investment is down $660,000 as of this writing. Meanwhile, a wallet address ending in 0x1527 suffered a $2.2 million loss on a WLFI long trade, but achieved a profit of $1.7 million after opening a short position on the token.
Notably, controversial influencer and ex-kickboxing champion Andrew Tate also lost money on his WLFI long bet. On Wednesday, news outlet CoinTelegraph reported that he had been liquidated for over $67,000 on the Hyperliquid decentralized exchange.
WLFI Devs Burn 47 Million Tokens
WLFI’s downtrend is happening even after the project’s developers announced the burning of 47 million tokens on September 3rd. In most cases, after a token burning event (permanently removing tokens from circulation) occurs, the prices of the remaining tokens skyrocket. However, this hasn’t been the case for WLFI, which is down 14% today, according to CoinGecko’s data.
Investor Sentiment on WLFI Turns Sour
Investor sentiment on WLFI has become negative over the past 24 hours. When the token launched, over 52% of traders on the CoinMarketCap platform were bullish about it. However, that figure has dropped to 32% at the time of writing this article. WLFI is now the eighth most bearish cryptocurrency among the top 100 coins by market cap.
At Tokenhell, we help over 5,000 crypto companies amplify their content reach—and you can join them! For inquiries, reach out to us at info@. Please remember, cryptocurrencies are highly volatile assets. Always conduct thorough research before making any investment decisions. Some content on this website, including posts under Crypto Cable, Sponsored Articles, and Press Releases, is provided by guest contributors or paid sponsors. The views expressed in these posts do not necessarily represent the opinions of Tokenhell. We are not responsible for the accuracy, quality, or reliability of any third-party content, advertisements, products, or banners featured on this site. For more details, please review our full terms and conditions / disclaimer.