One of the cryptocurrencies that has caused the most controversy since mid-2023 is the Worldcoin token (WLD). This token is given to those who voluntarily undergo a biometric data scan on special devices called "orbs."
Although the Worldcoin organization claims to work with high standards to maintain the security and privacy of its users, many governments have set their eyes on this digital identity protocol. Many bitcoiners and cryptocurrency enthusiasts have also expressed their concern.
Despite all this, WLD has an up week. As can be seen in the chart below, the price of WLD increased 15% in the last 7 days.
In this way, WLD is positioned as one of the cryptocurrencies and tokens with the greatest appreciation in the last week, after Render (RNDR) which leads the ranking, and before the memecoins dogwifhat (WIF) and pepe (PEPE).
Worldcoin redoubles efforts to take care of its image
The rise of WLD can be explained, in part, by the general movement of the market. At the time of this publication, more than 50 cryptocurrencies (among the 100 with the largest market capitalization) are on the rise . The thing is that, as usually happens, altcoins follow the trend of bitcoin (BTC) which has recovered after having "visited" $57,000 this week. It is now trading around $64,000.
But, also, the development team of the Worldcoin protocol has taken concrete actions in favor of the image of its product which, as mentioned at the beginning of this text, has received many questions.
Among these actions are, for example, marketing campaigns, such as an advertisement filmed in Argentina and in which Leo Messi participates. But it is not the famous soccer player but an Argentine citizen whose name is similar to that of the sports star (with the difference that he is Leonel and not Lionel).
What to expect for the Worldcoin price in the coming days?
Of course, answering the question in this intertitle is entering the realm of financial speculation. No price prediction can be taken as infallible. Anyway, technical analysis and some data on WLD tokenomics can help you think about where its price is headed.
Assuming the market, overall, continues to be bullish for cryptocurrencies, WLD could benefit from the “drag effect.” If that happened, it would have a high probability of reaching the area between $6.50 and $7.50 .
As you can see in the chart below, that has been a price zone where WLD has bounced both up and down. And it has also remained lateralized there, sometimes for a few hours or days. Therefore, by simple market psychology, it could behave like a resistance zone again:
It is worth clarifying that WLD (like most altcoins) will depend a lot on what bitcoin does. If BTC were to have another “hiccup” and crash, any bullish analysis for altcoins would likely be canceled out.
A possible negative factor intrinsic to Worldcoin must also be taken into account. The treasury is progressively releasing WLD units to the market. This release is not too large (0.1% to 0.4% of trading volume) but it can still negatively influence the price of WLD if demand does not increase strongly.
One of the "problems" that WLD has is that only 1.85% of all WLDs that will exist have been launched on the market. This means that there is still a large amount of tokens that have not been released .
There is huge inflationary pressure not yet released in WLD . We will have to wait for the organization that makes decisions about Worldcoin to confirm how this release will be done, to determine how it will impact the price of the crypto asset in the medium and long term.
