Worldcoin Price Drop Erodes Investor Confidence as Profits Turn to Losses
27.10.2024 14:00 2 min. read Alexander Zdravkov SHARE: 0 SHARES Worldcoin (WLD) has seen impressive price growth since the beginning of September, reaching $2.46 and boosting investor confidence. However, the recent pullback serves as a turning point in optimistic sentiment, with many holders now facing losses and looking for signs of recovery. Over the past day, the price of Worldcoin has fallen by over 15%, reaching an intraday low and causing the percentage of profitable holders to drop from 87% to 70%. This means that about 97.36 million WLDs, valued at over $194 million, went from profit to loss in a single day. Such a sharp drop has shaken investor confidence, marking a possible shift from optimism to caution. On a broader scale, Worldcoin’s current trend faces challenges. Data from the metric “Global In/Out of the Money (GIOM)” indicates that about 2.79 billion WLDs, worth more than $5.58 billion, have become unprofitable during the 18 percent decline. In order to regain profitability, WLDs will need to return to $2.46, surpassing this resistance, to secure profits. At the time of writing, altcoin is trading for $2.01 after a 16 percent weekly decline, and Worldcoin’s earlier potential to reach $3.00 is now uncertain. To stabilize, WLD needs to hold the $2.11 support level, which could help restore investor confidence. However, if it fails to surpass this point, the price is likely to drop to $1.74, which will likely extend losses and further deteriorate investor sentiment. SHARE: 0 SHARES More Altcoins News Is a Major Correction Looming for Trump’s Meme Coin After 300% Rally? Donald Trump’s recently launched meme coin, Official Trump (TRUMP), has taken the cryptocurrency world by storm, defying the broader market’s struggles. 19.01.2025 8:00 2 min. read Alexander Zdravkov Solana Hits New All-Time High After Donald Trump’s Memecoin Launch Solana (SOL), one of the leading cryptocurrencies globally, has reached a new all-time high, driven by unexpected developments that caught the market’s attention. 18.01.2025 18:40 1 min. read Kosta Gushterov Binance Announced The Listing of Trump’s New Meme Coin on its Platform In a surprise announcement, Binance has confirmed the listing of Donald Trump’s new meme coin, Official Trump (TRUMP), on its futures platform. 18.01.2025 13:05 1 min. read Kosta Gushterov Gary Gensler Challenges Ripple Ruling in Final SEC Filing As his term concludes, outgoing SEC Chairman Gary Gensler has filed an appeal against the Ripple XRP ruling, arguing that the earlier decision by Judge Analisa Torres misinterpreted securities law. 18.01.2025 13:00 2 min. read Alexander Zdravkov QR for the Bitcoin/Ethereum Address: QR for the Bitcoin/Ethereum Address: