Worldcoin Price Prediction: WLD Dips as Buzz Around New Meme Token Grows Louder

Updated: 09 August 2023

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Worldcoin (WLD), a cryptocurrency created by the founder of ChatGPT, Sam Altman, has seen a price dip recently. More than that, a closely watched analyst, Altcoin Sherpa, said he was very bearish on the token.

Sherpa commented on the altcoin on his X (formerly Twitter) account, suggesting that users should not buy it until it hits $1.

Even then, he argued that buying the token is only suitable for making a profit from a quick bounce. According to him, the token is not worth it long-term.

$WLD: Dont buy this thing until low $1s and even then, it's just a buy for a quick bounce, nothing else. THIS IS NOT A LONG TERM INVESTMENT https://t.co/Lekn8mYfZy pic.twitter.com/KXLas0ZlYp

— Altcoin Sherpa (@AltcoinSherpa) August 6, 2023

His advice against buying cryptos long-term is more of a general stance. He believes VCs will ultimately cause regular crypto users to regret the decision.

What is happening with the WLD price right now?

Worldcoin (WLD) has been seeing a lengthy price drop, which started in the first days of August. The fall finally stopped yesterday, August 8, when the price started trading sideways.

The token started fluctuating between $1.920 and $1.980. However, earlier today, August 9, the price broke the $1.920 support, dropping to $1.91.

This is where it sits at the time of writing.

Sherpa is not the only one who believes that buying the token now is a good move in the short term. Other analysts have expressed the same idea.

As WLD dropped to $1.920, many have suggested waiting until it drops to a support level at $1.84 and then buying to sell when the price climbs back to $2.5.

Why is WLD dropping?

WLD was created as part of the Worldcoin ecosystem, which intends to use its platform to create a global ID and finance system by scanning people’s eyeballs.

In doing so, the project will be able to offer proof o personhood to differentiate people from AI on the internet.

However, the project was criticized, with some claiming that the company was bribing individuals to hand over highly delicate biometric information.

The governments were also not impressed by the idea, and Worldcoin has already been suspended in Kenya, where it is currently under investigation.

Kenyan authorities are concerned about the safety and potential uses of Worldcoin’s data collected from local citizens.

Police in Kenya led a successful raid of a Worldcoin-owned warehouse in Nairobi, seizing machines that hold user data.

As WLD dips, users are turning to BTC20

Recently, a new version of Bitcoin called BTC20 emerged on Ethereum’s network. This ERC-20 version of the first cryptocurrency is meant to enable staking for Bitcoin holders.

The project launched a presale that was already sold out, attracting many participants. Staking will commence today, August 9, at 3 pm UTC.

According to the project, users can join the community staking pool and earn more BTC20 every 10 minutes, the average length needed to solve a Bitcoin block.

The project also says that 50 BTC20 tokens will be released and distributed to participants with every Bitcoin block confirmation, just like in the early days of BTC, before the first halving.

There is 14.9 million BTC20 tokens locked in the staking contract, and these will be used to reward staking participants. Meanwhile, 6.05 million tokens were sold to the community during the presale.

The total supply of BTC20 is 21 million tokens, just like the original Bitcoin (BTC). All tokens will be in circulation only after 120 years of staking.

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