Will Worldcoin enter the top 100 club despite lingering FUD?
- WLD’s circulating supply could increase by more than 1000% over the next 365 days.
- Investors’ confidence in WLD was high, and a few market indicators were bullish.
Only a few days after launch, Worldcoin [WLD] gained quite some traction in the crypto space. In fact, after a drop, the coin’s price action also turned bullish in the last 24 hours.
Read Worldcoin’s [WLD] Price Prediction 2023-24
Upon checking its growth trajectory, the possibility of WLD entering the list of the top 100 cryptos by market capitalization also seemed quite likely.
Decoding Worldcoin’s journey
Token Unlocks posted a tweet on 28 July, revealing quite a few facts about Worldcoin. Notably, its investor, team, and reserve unlocks started on 24 July 2023.
Since then, the token’s price has reached an all-time high of $3.30 from its low of $1.66. It was intriguing to note that WLD’s circulating supply could increase by more than 10 times in the next 365 days.
?? $WLD‘s circulating supply will increase by more than 10X in the next 365 days (1,060%) ??
— Token Unlocks (@Token_Unlocks) July 28, 2023
The coin also managed to remain one of the most popular cryptocurrencies in recent days, as WLD was trending #1 on CoinMarketCap. Moreover, its social dominance spiked in the last few days.
Positive sentiment around the coin also rose, suggesting investors’ confidence in WLD was high.
WLD’s price action turns bullish
The price of the WLD rose by up to 85% within hours of its release, as a significant portion of the market had anticipated. The same price did, however, drop by 22.28%. But things later changed in the coin’s favor.
According to CoinMarketCap, Worldcoin’s price was up by nearly 7% in the last 24 hours, with a double-digit increment in trading volume. At the time of writing, the coin was trading at $2.27 with a market cap of over $254 million, making it the 118th largest crypto.
This is why Worldcoin’s 1-week price volatility rose sharply over the last few days. Investors’ confidence in the coin also increased, as evident from the rise in the total number of holders.
Nonetheless, its network growth plummeted, suggesting that fewer new addresses were created to transfer the coin.
Realistic or not, here’s WLD’s market cap in BTC’s terms
Worldcoin’s Money Flow Index (MFI) was moving up and was headed towards the neutral mark of 50. This meant that the price uptrend might continue in the coming days. WLD’s Chaikin Money Flow (CMF) was also relatively high.
Therefore, the possibility of WLD further increasing its market cap seemed likely. However, its Relative Strength Index (RSI) took a sideways path under the neutral mark, which can put an end to WLD’s gaining streak.