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Worldcoin’s (WLD) Price Fall Puts $960 Million Profits in Jeopardy

2 mins
Updated by Ryan Boltman
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In Brief

  • Worldcoin’s price has declined by more than $63% in the span of a month to fall below $2.
  • About 530 million WLD worth more than $960 million is close to losing its profitability.
  • The MVRV ratio, however, supports recovery as the altcoin is in the opportunity zone.
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Worldcoin’s (WLD) price could be recovering on the back of investors’ accumulation, which is likely given the potential for losses.

The on-chain indicators support a bullish outcome, provided investors stay on track with growth.

Worldcoin Investors Push for a Rally

The recent decline in Worldcoin’s price resulted in the altcoin losing the support of $2. According to the Global In/Out of the Money (GIOM) indicator, about 530 million WLD worth over $960 million are close to losing their profitability.

Investors bought this supply between $1.71 and $1.93. Given that WLD is changing hands around $1.83 and testing the support of $1.76, the altcoin may lose its profits.

Worldcoin GIOM.
Worldcoin GIOM. Source: IntoTheBlock

However, for Worldcoin’s price to rebound, investors would need to act in accordance. The demand for the asset needs to increase, which is possible since the altcoin is currently undervalued. 

According to the Market Value to Realized Value (MVRV) ratio, there is an opportunity for accumulation. The MVRV ratio assesses investor profit and loss. Currently, Worldcoin’s 30-day MVRV stands at -37%, indicating profitability, which may lead to buying pressure. 

Historically, WLD MVRV between -11% and -37% usually signals the start of recoveries and rallies, marking an opportunity zone for accumulation. This could help push the price back up.

Worldcoin MVRV Ratio.
Worldcoin MVRV Ratio. Source: Santiment

WLD Price Prediction: Recovering Gains Is the Target

Worldcoin’s price is currently at $1.83, under the critical price of $2.0. Following the 63% drawdown in the past month, the altcoin has attempted to breach it and flip it into support again.

This is likely, looking at the aforementioned factors. Should this happen, WLD is open to a rise towards $3.0, which would warrant consistent bullishness from the investors.

Worldcoin Price Analysis.
Worldcoin Price Analysis. Source: TradingView

On the other hand, a failed breach would result in the crypto asset potentially losing support of $1.76 and falling to the lows of $1.50, invalidating the bullish thesis.

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In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

Aaryamann Shrivastava
Aaryamann Shrivastava is a technical and on-chain analyst at BeInCrypto, where he specializes in market reports on cryptocurrencies from diverse sectors, including Telegram Apps, liquid staking, Layer 1s, meme coins, artificial intelligence (AI), metaverse, internet of things (IoT), Ethereum ecosystem, and Bitcoin. Previously, he conducted market analysis and technical assessments of various altcoins at FXStreet and AMBCrypto, covering all aspects of the crypto industry, including...