Worldcoin Price Drops 8% as Whales Accumulate $18 Million in WLD
Worldcoin (WLD) has seen a decline of nearly 8% in the last 24 hours, trading at approximately $0.9344, with a market capitalization dropping by $120 million to around $1.52 billion.
Key points include:
- Whales are accumulating, with two new wallets withdrawing 18.2 million WLD worth about $17.17 million from Binance.
- A large-scale withdrawal reduces exchange liquidity, potentially leading to price volatility.
- WLD has decreased by nearly 18% over the past month, losing about $900 million in market cap since May 22.
- Technical analysis indicates a bearish trend, with a broken rising wedge pattern on the daily chart.
- The price may retest support at $0.50; if this holds, targets near $1.50 could be pursued.
- Long-term indicators suggest a potential macro rally if volume and momentum support it.
The RSI currently indicates oversold conditions. A close above the $1.10 resistance could signal bullish continuation, while strong support levels are identified around $0.90 and $0.50.
WLD price chart with RSI and Bollinger Bands | Source: TradingView
WLD price chart with MACD | Source: TradingView