CandleFocus Worldcoin (WLD) Price Drops, with FTX Sale Set to Increase Pressure
2024-10-02
Author: Content Editor
Worldcoin (WLD) has experienced a 20% decline in its price over the past week due to growing bearish sentiment and concerns about the FTX estate's upcoming sale of locked WLD tokens at a significant discount. The token's social dominance has also plummeted, indicating waning hype. With a year-to-date drop of 53.20% and a market cap below $1 billion, WLD is struggling to regain its previous market excitement. The auction of 22.3 million locked WLD tokens at a steep discount could dampen market sentiment and potentially lead to further price declines. The extended lockup period and gradual unlocking of tokens may create uncertainty about future liquidity. Technical indicators and the recent drop in social dominance suggest that WLD is entering a stronger downtrend, with potential support at $1.51 and resistance at $1.84 and $1.98. If WLD bounces back, it could rally up to $2.47.
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