⚡️ Worldcoin (WLD) Price Drops, with FTX Sale Set to Increase Pressure
Worldcoin (#WLD ) price has seen a sharp decline, dropping 20% in the past week amid growing bearish sentiment. Further fueling concerns, the FTX estate is set to sell a large batch of locked WLD tokens at a significant discount.
That could increase selling pressure and negatively impact the token’s price. Combined with technical indicators pointing toward a downtrend, WLD is facing challenges in regaining its previous market excitement.
🔸 WLD Social Dominance Dropped 78% In The Last 7 Days
WLD’s 7-day Social Dominance Moving Average has plummeted to 0.132%, a stark contrast to the 0.60% observed on September 25. This previous high in social dominance coincided with WLD’s price surge to $2.15, marking its highest level since August 1.
Social dominance reflects the percentage of attention and discussion a coin receives across social media platforms compared to other assets. The sharp decline in WLD’s social presence could signal that the hype surrounding the token is fading.
This is especially evident when considering that WLD has dropped -53.20% year-to-date, its market cap has fallen below $1 billion, and it has lost a staggering -85.57% from its all-time high.
These factors combined suggest that WLD may be losing momentum, struggling to recapture the excitement it once generated in the market.
🔸 WLD Price Prediction: Is a Strong Downtrend Inevitable?
WLD recently experienced a golden cross in its EMA lines, where the shorter EMA crossed above the longer EMA, sparking a price increase from $1.53 to $2.18 between September 23 and September 26. EMA (Exponential Moving Average) lines are indicators that give more weight to recent price data, allowing traders to identify trends faster than simple moving averages.
However, despite this initial bullish signal, WLD has dropped 20% over the past 7 days. Now, the shorter EMA is beginning to cross down below the longer ones. That is considered a bearish signa.