Each altcoin boasts its own unique characteristics, and Worldcoin (WLD) stands out for the global impact of its creator. Founded by Sam Altman, Worldcoin entered the Web3 arena with a mission to authenticate real identities. However, it is now facing potential downturns as a result of fluctuations in the price of BTC.
Worldcoin (WLD)
WLD Coin Price Prediction
Friday’s trading proved to be a challenge for all, with significant support levels being put to the test. Today marks a crucial moment as the truth is revealed. WLD Coin, which slipped below the 200EMA, was among the most affected altcoins on Friday, seeing a sharp 21% decline in a single day. Stay updated with the latest tech news by accessing NEWSLINKER.
The initiatives taken by artificial intelligence, particularly by OpenAI, have provided support to the price of WLD Coin under the leadership of Sam Altman. However, this support has also led to a degree of price bubble formation. While some investors were hopeful for positive news and a rise in value, the decline in BTC forced them to exit the market. This decision was not unreasonable.
WLD Coin Price Prediction
The price of WLD Coin currently hovers around $3.69, below the critical resistance level of $4.45. If this resistance level is surpassed, we may witness a continuation of bullish sentiment in the medium term. Conversely, a drop below $3.69 could trigger another downward movement towards $2.55. The price outlook remains relatively clear.
Analyzing the on-chain activity provides further insight into investor sentiment. For instance, the number of active addresses on the network stood at 1963 in mid-May, indicating healthy engagement with WLD Coin. However, by June 9, this figure had decreased to 1267.
Between May 12 and June 12, the price of WLD Coin dropped by 34%, while active addresses declined by 35%, reverting to levels seen in February. This demonstrates a clear correlation between market sentiment and investor interest, with the lack of engagement from investors playing a significant role in the coin’s performance.
In an optimistic scenario, reclaiming $4.45 could signal a positive turn in direction. Key factors to watch include inflation data and statements from the Fed due in the coming hours. It is important to note the potential risk of a drop to $2.55 as mentioned earlier.
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Disclaimer: The information provided in this article is not intended as investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies, and conduct their own thorough research.