Worldcoin (WLD) has had an impressive run over the past week, steadily climbing back into the $2 range. Despite this recent surge, the majority of its holders remain in the red, which could reduce selling pressure as investors hold out for even higher prices.
But is this optimism warranted?
It’s Been a Rollercoaster Year for WLD
Earlier this year, Worldcoin hit a peak of around $12 before experiencing a sharp decline. By mid-April, WLD had shed 69% of its peak value, settling into the $3-$4 range. This steep correction led to significant losses for many investors. Even with the recent recovery, roughly 71% of WLD holders are still facing losses.
Historical data shows that only about 23% of Worldcoin investors are currently in profit, with 6% breaking even. However, if the majority of holders choose to hold rather than sell, this sentiment could foster a bullish momentum. Limited sell pressure combined with steady demand could push prices higher.
WLD Social Media Buzz
Alongside the price increase, Worldcoin’s social media presence has surged, marking a new high in public attention. The token’s 7-day Moving Average Social Dominance—a measure of how frequently an asset is mentioned across social platforms—has climbed significantly, from 0.021% to 0.30%.
The recent rise in social mentions was further fueled by a major funding announcement by OpenAI, with which Worldcoin shares a connection through OpenAI’s co-founder, Sam Altman.
WLD Price Forecast: Is $2.47 Within Reach?
Technical analysis for Worldcoin shows promising indicators, with a 27% gain from recent lows and bullish signals in its EMA lines. On October 6, WLD’s short-term moving averages crossed above its long-term ones in a formation known as the “golden cross,” a strong bullish indicator.
If Worldcoin maintains its current trajectory, analysts expect it to test the $2.18 resistance level soon. Breaking past this level could allow WLD to reach as high as $2.47, a price it hasn’t seen since July 2024, representing a potential 23.5% increase from current levels.
On the flip side, if the market turns bearish, Worldcoin has established support at $1.59, $1.51, and $1.38, providing investors with potential safety nets should the price decline.
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Source: https://coinpedia.org/news/worldcoin-soars-back-to-2-will-holders-ignite-a-bullish-trend/