Worldcoin Price Evaluation: WLD Bracing for 45% Dive in the Market?

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Despite enjoyable activities in its ecosystem, Worldcoin WLD has shown signs of a price decline in the past week. It traded at $1.76 at 6:12 am EST on August 15, showing a 1.9% price drop in the last 24 hours. Also, it is down by 8.2% in the previous seven days.

Its bearish momentum sparks concern among investors about whether the retracement is temporary or a sign of more downturn to come.

Worldcoin Downloads Attain Record Highs

According to the Worldcoin blog, the project’s community proliferated after its beta launch. The rising global demand for World ID, an identity protocol claiming to preserve user privacy, spurred this growth.

World App downloads hit record highs globally in the days following the Worldcoin launch. pic.twitter.com/Xl0FDzvlj4

— Worldcoin (@worldcoin) August 6, 2023

Also, Tools for Humanity’s World App, the first wallet developed on Worldcoin, recorded a spike in global activity after the network’s launch. However, the price decline in the past week might hint at a drop in the initial accumulation frenzy after the project launch.

Price Dip Likely A Consolidation Phase As Exciting Developments Keep Community Hopeful

According to PIP, despite the decline in WLD’s price in the past 7-days, exciting ecosystem developments keep the Worldcoin community hopeful. On August 9, the World ID is now integrated into their app, enabling users to create a free Web3 profile page easily.

Learn how to build with Worldcoin, including links to check out developer docs & create your account in the Worldcoin dev portal. https://t.co/fvW8PIgJeL

— Worldcoin (@worldcoin) August 11, 2023

Moreover, Worldcoin co-founder Alex Blania on Twitter stated that the World App has 1.7 million monthly active users as of August 12.

week two of the @worldcoin launch. we saw as many as 14k daily orb verifications. World App is now at 1.7m monthly active users.

long lines (in some cases over 1000 people) from tokyo to buenos aires and on the top of the app store in all categories in multiple countries. pic.twitter.com/0l4yaGGaLq

— Alex Blania (@alexblania) August 12, 2023

Furthermore, Worldcoin offers a reservation feature where users can reserve their WLD tokens without verifying their World ID. The tokens are redeemable by visiting an Orb in the next twelve months.

The increased activities in the ecosystem will likely lead to a price resurgence for the token despite the decline this week.

Worldcoin Price Analysis

The 15-minute chart analysis for WLD reveals limited trading activity in the shorter timeframe represented by the small-size candles. The $1.781 support level proves critical to limiting a further price drop for the asset. However, the bears at the $1.787 price level continue to limit their price gains.

The Relative Strength Index is 59.96, in the neutral zone, demonstrating equilibrium in WLD’s Market today. But its sideways movement shows traders’ indecision and rising market uncertainty.

Also, the Moving Average Convergence/Divergence is above its signal line, with faded histogram bars displaying reduced buy strength for the asset. It suggests the bears are actively pushing WLD downward. If they succeed, WLD could face more downturns before the day ends.

Worldcoin could retrace in the coming days before finding any bullish momentum to sent it back to retest the $1.787 resistance level.

Wall Street Memes: The Next Meme Sensation

Wall Street Memes ($WSM) has sparked significant enthusiasm in the crypto community, emerging as a highly anticipated meme coin project in 2023. Wall Street Memes presale attracted massive investor interest, reflected in the over $23 million raised within a few weeks.

Moreover, the $WSM creators achieved a milestone with a successful Wall St Bulls NFT sale which raked $2.5 million within 32 minutes, raising speculations that the project is poised for massive gains upon hitting exchanges.

Many believe the Wall Street Memes could break the records of its meme ancestors like Dogecoin and Shiba Inu. In addition, prominent crypto analysts Jacob Crypto Bury and Crypto Dose have expressed optimism and predicted that $WSM is poised for 10X gains in the coming months.

Wall Street Memes project scales its value by leveraging robust community strength. It boasts over 1 million followers on its social media platforms.

Interestingly, the project creators aim to create a level playground for all investors, no matter their financial capability. They allocated 20% of the total $WSM token supply for exchange liquidity.

Also, Wall Street Memes allocated 50% of the token supply for marketing initiatives as the team seeks to promote wider adoption. Furthermore, 30% of the supply will go for community rewards and airdrops to encourage active participation within the ecosystem.

$WSM tokens are currently priced at $0.0334, an amount poised to increase upon the project’s public launch. The presale could close in a few days since the project is about to hit the $25.9 million target. Visit the website and buy $WSM tokens using your ETH, USDT, or bank card.