Token tied to former US president plunges amid massive unlocking of $62 billion in coins

Table of Contents WLFI recorded a sharp price decline within 36 hours as governance voting opened on a large token unlock plan. The token fell from $0.074 on April 28 to about $0.061 after selling pressure increased. The drop followed heavy transaction activity and rapid approval of the proposal by major holders. WLFI price fell by over 17% as voting started on a proposal to unlock billions of tokens. The market reacted quickly, and traders began selling within hours of the voting launch. Data showed the decline occurred while governance voting gained traction and reached quorum early. At the same time, the proposal secured about 99.5% support from participating wallets. $WLFI dropped 17% in 36 hours after governance voting opened on its token unlock proposal (Santiment MCP + Claude):📉 Price: $0.074 (Apr 28 peak) → $0.061 (now), -17%.🐋 Whale transactions hit 15 in a single 4h window on Apr 29 — matching the highest reading of the past two… pic.twitter.com/lcvt3ZCYz5 — Santiment Intelligence (@SantimentData) April 30, 2026 Large transactions also increased during this period, and on April 29, activity peaked within a short timeframe. Fifteen large transfers appeared within four hours, marking the highest level in two weeks. This spike in whale activity aligned with the start of the token unlock vote. As a result, market participants responded with increased selling pressure across trading platforms. The proposal outlines a plan to unlock 62.28 billion tokens over five years after a two-year lock period. Despite the delay, traders appeared to price in future supply increases immediately. The token plan allocates 45.2 billion tokens to insiders and 17 billion to early supporters. It also includes a burn of 10% of insider tokens, totaling around 4.5 billion WLFI. Project developers stated that the structure improves clarity by replacing indefinite lockups with a defined schedule. However, the market reaction suggested that traders focused more on long-term dilution risks. Governance data showed that voting power remains concentrated among a small group of wallets. The largest wallet controlled nearly 13% of the vote during the proposal. Meanwhile, the top four wallets together held around 40% of total voting power. This concentration allowed a small group to strongly influence the proposal outcome. Critics raised concerns about this governance structure and its effect on decision-making balance. Some industry figures publicly questioned the fairness of the proposal and its timing. Moonrock Capital’s Simon Dedic described the plan as a “rug pull” in a public statement. Meanwhile, Tron founder Justin Sun called it “one of the most unreasonable proposals” he has seen. The criticism followed earlier disputes involving the project and Justin Sun. He claimed that the project froze his tokens and removed his governance rights. Project representatives denied those claims, and the dispute remains unresolved at this time. The token price continued to reflect selling pressure during this period. Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.