On-Chain Analysis: 80% of Top-10 WLFI Holders Take Profits
On-chain analysis shows that 80% of the top-10 WLFI holders have realized profits through partial or full token sales. Only two wallets in the top 10 have not moved any tokens. The largest holder, moonmanifest.eth, retains most of its 1 billion WLFI tokens, which are now valued at $230 million at the current price of $0.2318 despite a significant drawdown from peak profits. Meanwhile, the sixth-largest holder, convexcuck.eth, has sold $3.8 million worth of WLFI to 36 buyers via the Whales Market platform. This concentrated profit-taking signals potential short-term bearish pressure on WLFI price even as overall token distribution diversifies.
Bearish
Major holders taking profits creates immediate selling pressure and increases available supply in secondary markets. Historically, large-scale whale profit-taking—such as seen in early SHIB or new token listings—often precedes short-term price dips. While the top wallet still holds significant WLFI, the broader sell-off by 80% of the top-10 addresses could weigh on market sentiment and liquidity. In the long run, diversified token distribution may reduce concentration risk and support stability. However, traders should anticipate a potential downturn in WLFI price in the coming days as whales lock in gains.