What is the logic behind WLD?
Why is the trading volume up by an astonishing 90% in just two days?
Worldcoin (WLD) is one of the top 100 crypto assets in the global market and ranks 81st in terms of market capitalization. The market capitalization of the token is $788.937 million, while its fully diluted market capitalization reaches $17.019 billion. It is worth noting that only 46% of the total supply of WLD is in circulation, resulting in a supply inflation rate of up to 241%.
Since its launch, the price of Worldcoin has soared, increasing by more than 1,000%. However, starting in March 2024, the token suffered a major decline as profit-taking dominated the market. This trend pushed the price of WLD down, erasing some of its previous gains.
Currently, the price of Worldcoin has fallen 85% from its all-time high of $11.82 set six months ago. Despite the sharp correction, the trading activity of WLD remains strong.
In the past 24 hours, its trading volume surged by 90%, with a total value of $178.566 million. This accounts for 22.22% of the token's market value, reflecting strong liquidity and making trading smoother in various market conditions.
The recent market rebound has driven WLD's strong pull-up!
Although WLD price broke through the falling wedge, the price still struggled to gain momentum, lacking volume and bullish momentum.
After the breakout, the token has been trading in a narrow range, resulting in a period of consolidation. This small consolidation area reflects the market's indecision, and WLD faces resistance at higher levels.
For Worldcoin to regain its upward momentum, it needs to break through two key resistance levels. It is worth noting that if the price breaks through $3.30 and stays above this level, it may pave the way for price increases and signal the end of the long-term downtrend.
At the same time, today's daytime sun short position held for three days, today's big waterfall
Then reef just bought some short positions as well, we are quietly waiting!
At the same time, the ETH mentioned in the previous article has fans' short orders at 2702 today, and it still hasn't moved! However, the intraday low of 2650 also formed a short-term support level!
