Trump-Backed World Liberty Financial Tops Charts: New Peak?

The Trump family-linked World Liberty Financial (WLFI) is currently dominating the crypto charts. According to CoinGecko statistics, WLFI has rallied 25.5% in the last 24 hours, 19.6% in the last week, 2.8% in the 14-day charts, and 16.2% over the previous month. Despite many claims about WLFI being backed by the Trump family, the company’s website notes that “none of Donald J. Trump, his family members, or any director, officer, or employee of Trump Organization or of DT Marks LLC” is involved. Let’s discuss why WLFI is surging today and whether the asset will continue its upward momentum and hit a new peak.

Can World Liberty Financial Sustain Its Rally?

WLFI’s latest upswing comes amid a larger market resurgence. The market rally is likely due to the US government nearing the end of its shutdown. President Trump recently stated that the shutdown is near its end and that we will know more about it soon.

World Liberty Financial’s (WLFI) upswing may have also been triggered by President Trump’s $2000 dividend payment to all Americans, excluding high-net-worth individuals. The move may have led to a boost in investor sentiment, triggering a rally for the Trump-linked cryptocurrency.

WLFI is currently down by 52.7% from its all-time high of $0.3313. The asset hit its peak on Sept. 1 of this year. If the asset maintains its current trajectory, it could hit a new all-time high very soon.

Despite the latest upswing, CoinCodex analysts anticipate a bearish reversal for WLFI. The platform predicts the asset will face a correction and hit $0.092 on Nov. 20. Falling to $0.092 from current price levels will entail a rally of about 39.4%.

The crypto market is still recovering from the bloodbath over the last month. October, despite being a historically bullish month, experienced the highest single-day liquidation in crypto history. WLFI could face fresh volatility over the coming days, given the bearish market environment.