Worldcoin Price Prediction – Who is Behind The WLD Coin?

The crypto market is the gift that keeps on giving, with new coins and virtual currencies shining every now and then. Worldcoin is making the recent buzz in the market with a unique project and skyrocketing growth.

WLD coin achieved a massive valuation during the last bull run in March 2024, but the bubble quickly inflated, and the coin price plummeted to under $2.

Mid-July, the coin made a huge recovery, scoring a 45% weekly growth. Let’s explore the reason for this valuation and take a look at the Worldcoin price prediction.

Introducing The Worldcoin

Worldcoin was launched in July 2023 on the Ethereum mainnet by a team of developers and businessmen, including OpenAI’s co-founder and CEO, Sam Altman.

The project aims to build the largest financial network and identity, focusing on the human side of things while ensuring advanced blockchain developments and utmost privacy.

WLD is a utility coin that uses the World ID, which enables online users to verify their identity without revealing their private information. This ensures that Web 3.0, decentralized applications, DeFi protocols, and cryptocurrency ownership remain with humans. The project focuses on (one-human-one-vote) in its decentralized governance system.

Worldcoin News 2024

Since its launch in July 2023, the coin struggled to make a solid performance, struggling just under the $2 mark and scraping the surface of $3 by the end of 2023.

WLD was quickly caught up in the crypto market frenzy early this year. Starting from February 2024, achieving a whopping 190% growth in one week.

The coin continued its uptrend and peaked on March 9, as WLD closed at $11.73, growing by 55% in one day. However, the snowball started building up on most exchanges as Worldcoin on CoinMarketCap recorded a rock-bottom price of $1.75 on July 12.

However, hope returned as the coin achieved a positive valuation between July 13-17, closing at $2.95, registering a +45% weekly growth. This comeback saw the WLD coin return to the top 100 cryptocurrencies in market capitalization and become one of the best altcoins for 2024 at the moment.

Worldcoin Tokenomics Behind This Growth

Much of this surge is attributed to the company’s announcement of unlocking WLD tokens to the overall community. The token unlock is expected to start on July 24, one year after the coin launch, with a five-year vesting period, including investors, team members, and WLD holders.

Users can hold Worldcoin simply by registering on the World App and verifying their uniqueness. They will then be subject to receiving tokens and a unique financial identity simply for being human.

Worldcoin Price Prediction

With a significant recovery of Worldcoin on Coingecko and most exchanges, let’s analyse the price performance and draw Worldcoin price predictions in the long and short terms.

We use the 12- and 26-day exponential moving average (EMA) to examine short-term trends more closely.

Here, we see both EMA lines above the price line, indicating a possible upward trend. However, in the last few days, the market price grew faster than the 12-day EMA line, with an upward-moving 12-day EMA line almost crossing above the 26-day EMA, indicating a bullish movement.

The long-term analysis shows that both EMA lines have moved downward since May. However, the 50-day EMA (in yellow) slows its decline and picks up slightly. This recovery looks tiny from a long-term perspective and might not indicate a convincing bullish direction in the long run.

Conclusion

Worldcoin is a unique project that focuses on the human side of decentralization and makes Web 3.0 and cryptocurrencies available for everybody.

The developing team announced a token unlock program that spurred attention and coin demand, triggering a WLD coin recovery as prices jumped from $1.75 to over $3 in four days.

The Worldcoin price prediction tells us that short-term growth is expected to remain as network activity continues and more coins leave exchanges. However, investors must be cautious for long-term positions as the coin still has much to prove.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. Investing in cryptocurrencies, including meme coins, carries ingrained risks, and individuals should conduct their own research before making any investment decisions.