Worldcoin (WLD) Price Tied-Up With Meme Coins Amid Mixed Signals !!

#BinanceTournament #Megadrop #AirdropGuide #ETHETFsApproved #FIT21 Worldcoin shares a strong 30-day price movement with SHIB and DOGE, however, prices diverged in the last 24 hours.The notable rise in the stock-to-flow ratio suggests that WLD’s price can continue to increase.

WLD trades below the 20 EMA, but the RSI shows that an upward reversal can lead the price to $3.63.

While Bitcoin and Ethereum often lead the broader market direction, Worldcoin (WLD) prefers to align with two cryptocurrencies that were outstanding during the 2021 bull market. At the top of the list is Shiba Inu (SHIB).

The other is another memecoin struggling to replicate the performance that pushed it into the limelight. As of this writing, WLD’s price trades at $3.04, representing an 8.58% increase in the last 24 hours.Over the past few months, the Worldcoin project has faced regulatory heat from several countries due to skepticism about the safety of its WorldID orb verification.

But if on-chain fundamentals are anything to go by, WLD’s price may begin to move in the direction investors desire. Also, its correlation with DOGE and Shiba Inu (SHIB) prices can influence the potential price action.

According to IntoTheBlock, WLD’s correlation with DOGE is 0.95. With SHIB, it is 0.97. This is much higher than the correlation with BTC and ETH, which are 0.79 and 0.90, respectively.

Correlation values range from -1 to +1. When the reading is close to +1, it means that two cryptocurrency prices move in a similar direction in most cases. On the other hand, a reading near -1 implies a divergence in direction. On the other hand, a low reading of the metric puts the value at risk of falling below major thresholds. Therefore, the recent surge increases the chances of WLD’s continued price