WEMIX is Burning Their Own Token

[Wilbur Kwok]

Wemade has announced plans to buy back and burn $10 million in WEMIX. According to them, the burning will continue until March 2023. It plans to repurchase its tokens on the mainnet and Klyatn blockchains at a time-weighted average price on global markets.

Wemade also expressed regret for the delisting incident on Korea's exchanges. They emphasize that it was primarily a clerical error. However, DAXA was dissatisfied with the reasoning and eventually delisted the coin. They managed to increase the price of their token by more than 40% after announcing their intention to burn the tokens on Medium. They are hopeful that this measure will keep the community and investors safe from further harm.

What are your thoughts on WEMIX?

 

[Suba]

Even though $10 million will be burned, the total supply of WEMIX is still very large, namely 1,037,901,377 WEMIX, what should be burned is not in terms of money but in the amount of WEMIK, like the Shiba Inu burning. The current price of WEMIX is $0.3018. Whereas the Max supply is not listed on Coinmarketcap, so there is a possibility of a larger number of offers, if the majority of WEMIX users are staking. ATH was reached at a price of $24.68 which occurred on the month 21/11/2021. so up to now it has dropped more than 98.7%. If we compare it with Bitcoin, the ATH decrease is only 75%. According to my prediction using the Trendline the WEMIX price will drop below $0.1 in 2023.