 rises above $2, driving bullish sentiment among holders. Technical indicators point to further gains as social media buzz and OpenAI news boost momentum.){kind=link}
Worldcoin (WLD) has demonstrated remarkable strength in the cryptocurrency market over the past week, pushing its price back above the $2 threshold. This resurgence comes after a significant correction earlier in the year, which saw WLD lose over 80% of its value from its peak of $11.74.
Historical Context and Current Investor Positions
The WLD Token has certainly been all the buzz in the cryptocurrency world, and many Worldcoin investors were left feeling major losses after the mid April price correction.
With the recent price uptick, current data shows that about 70% of WLD holders are still in red. Currently only 24% of investors are profitable, 6% are breaking even.Â
If these positions don’t sell off and the holders continue to hang on to their positions then this distribution of investor positions could continue to be bullish for prices as steady demand can push prices higher with limited supply. However, the majority of Worldcoin holders have lost so far, causing sell pressure to increase until prices rise.
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Social Media Buzz and Technical Analysis
Worldcoin’s social media presence has seen a significant boost according to data from Santiment, coinciding with its price increase. The token’s 7-day Moving Average Social Dominance has surged from 0.021% to 0.30%, indicating a marked increase in public attention.
This heightened interest was further amplified by a major funding announcement from OpenAI, which shares a connection with Worldcoin through OpenAI co-founder Sam Altman. Technical indicators are also showing promise, with WLD experiencing a 27% gain from recent lows and displaying bullish signals in its EMA lines, including the formation of a “golden cross.”
WLD Token Prospects Amid Price Swing
If Worldcoin maintains its current momentum, analysts anticipate it will soon test the $2.187 resistance level. A breakthrough beyond this point could potentially propel WLD to $2.468, a price not seen since July 2024, representing a possible 23.7% increase from current levels.
However, should market sentiment turn bearish, WLD has established support levels at $1.58, $1.50, and $1.37. As of the latest data, Worldcoin peice is trading at $1.98, with a 24-hour trading volume of $505,226,735, reflecting a 1.97% increase in the last 24 hours and a 2.85% gain over the past week. With a circulating supply of 510 million WLD, Worldcoin’s market capitalization stands at $1,011,560,265.