Worldcoin (WLD) Price Slips Below $2 Support Level: How Whales Reacted
The price of Worldcoin (WLD) has dropped below the $2 support level, with losses in August nearing 25%. On-chain data analysis reveals that whale investors in Worldcoin have responded in an unusual manner to the ongoing price correction.
Worldcoin’s Struggles to Sustain User Traction
- Worldcoin initially attracted attention from crypto investors, but concerns about collecting biometric data and Iris scans have caused a decline in user adoption.
- Active users adopting WLD in daily transactions have decreased significantly.
- On August 8, Worldcoin only had 440 active addresses, representing an 80% drop from the launch date.
Resilient Crypto Whales Continue to Buy WLD
- Despite the price decline, whale investors have been buying more Worldcoin.
- Whales holding 100,000 to 1 million WLD tokens have increased their balance from 4.02 million to 5.02 million.
- The whales have made a fresh investment of $1.90 million in the first ten trading days of August.
Price Prediction: $1.90 Buy-Wall Could Trigger an Early Rebound
Due to the bullish momentum among whale investors, it is likely that the price of Worldcoin will defend the $1.90 support level and potentially reclaim the $2 milestone. However, if regulatory issues continue to impact the market, the price could drop below $1.90.
Hot Take
Worldcoin’s struggles to sustain user traction and the ongoing regulatory concerns have affected its price. However, resilient whale investors have continued to buy WLD, indicating confidence in a potential price recovery. The $1.90 support level will be crucial in determining whether Worldcoin can regain momentum and reach the $2 milestone.
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