What to know:
- Worldcoin wallets have transferred 21.17 million WLD valued at $5.57 million to the Bybit exchange.
- Worldcoin is trading at $0.2622, 24h volume $108.03M, market cap $863.60M, market dominance 0.03%, gaining 0.17%.
- Breaking out of the falling wedge may see the price rising to $3.25, $4.20, and $6.31.
Worldcoin (WLD) is showing mixed signals as recent on-chain activity and technical chart patterns create uncertainty around its next move.
At the time of writing, WLD is trading at $0.2622, with a 24-hour trading volume of $108.03 million. WLD currently sits at a market capitalization of $863.60 million, with a market dominance of 0.03%. Over the past day, WLD has recorded a slight increase up to 0.17%, showing limited upward movement while overall market activity remains steady.
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Worldcoin Wallets Move 21 Million Tokens
A recent post by analyst Crypto Patel highlighted that two wallets reportedly affiliated with the Worldcoin team had moved almost 21.17 million WLD tokens worth about $5.57 million to the Bybit exchange. Such a significant influx of assets to centralised platforms is viewed as a sign of selling pressure or getting ready for distribution.
The move has sparked concerns of possible downside pressure, especially as exchange deposits typically indicate reduced holding intent from large holders. However, not all transfers result in immediate selling, as funds are sometimes moved for liquidity management or operational purposes.
Worldcoin Falling Wedge Breakout Targets $6.31
Despite concerns from the transfer, the chart structure of Worldcoin is showing a different picture. Market chart analysis shows that WLD has experienced a breakout of a falling wedge on the daily chart.
A falling wedge is typically seen when the price moves between two downward-sloping lines that gradually tighten. The formation often signals a possible reversal if buying pressure continues to build after the breakout.
If momentum continues in the same direction, projections suggest a strong upward move could develop, then WLD is expected to continue climbing up to nearly 180% in the next few days. According to the price target calculations based on the breakout pattern, Worldcoin’s price may reach $3.25, $4.20, and even $6.31.
However, for this scenario to remain valid, the price needs to hold above the breakout zone and maintain steady buying interest. If it fails to sustain this level, the breakout may lose strength and return to a consolidation phase.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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