Is Worldcoin About to Crash? WLD Price Dumps 11% as Viral AI Meme Coin Approaches $1 Million
As Sam Altman’s OpenAI fuels big market moves, Worldcoin (Altman’s decentralized identity project) has dumped down -11%.
This article will provide an analysis of WLD’s current price trends and look to see whether a newer low-cap AI crypto alternative, SCOTTY, represents a more promising investment opportunity at this time.
$WLD
higher highs is coming.#wld #WLD pic.twitter.com/cAW4lk9CuT
— Kylo Ren (@Kylo_XBT) February 28, 2024
Market sentiment surrounding Worldcoin is accelerating to a fever pitch after Sam Altman revealed OpenAI’s new video generation model, Sora, with prominent traders across crypto X (formerly Twitter) calling for price to push up to a new local high above the current range.
As price action finds feet amid a localized retracement move, Worldcoin is currently trading at a market price of $7.26 (representing a 24-hour change of +2.66%).
The -22% retracement move comes after a huge bounce off 20DMA support (which is standing at $5.58) fuelled a magnificent +307% climb to a local high at $9.46.
WLD price is now attempting to solidify a foothold at a recently established lower support zone around $7.2, however, lower supports are available at $6 and $5.3 in the event of a breakdown.
Despite the retracement move, the RSI remains over-heated with a bearish 66.99 signal on the indicator, implying the need for a substantial consolidation at this level, or, a further drop to lower support.
However, the MACD remains at a minor bullish divergence with a reading at 0.118, suggesting that momentum is still pressing to the upside.
Overall, WLD price analysis paints a picture of a healthy consolidation move from a recent high, however, bolstered by the fundamental tailwinds of Sam Altman’s AI narrative – it seems likely a
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