Worldcoin Price Drop Erodes Investor Confidence as Profits Turn to Losses
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Worldcoin (WLD) has seen impressive price growth since the beginning of September, reaching $2.46 and boosting investor confidence.
However, the recent pullback serves as a turning point in optimistic sentiment, with many holders now facing losses and looking for signs of recovery.
Over the past day, the price of Worldcoin has fallen by over 15%, reaching an intraday low and causing the percentage of profitable holders to drop from 87% to 70%.
This means that about 97.36 million WLDs, valued at over $194 million, went from profit to loss in a single day. Such a sharp drop has shaken investor confidence, marking a possible shift from optimism to caution.
On a broader scale, Worldcoin’s current trend faces challenges. Data from the metric “Global In/Out of the Money (GIOM)” indicates that about 2.79 billion WLDs, worth more than $5.58 billion, have become unprofitable during the 18 percent decline. In order to regain profitability, WLDs will need to return to $2.46, surpassing this resistance, to secure profits.
At the time of writing, altcoin is trading for $2.01 after a 16 percent weekly decline, and Worldcoin’s earlier potential to reach $3.00 is now uncertain. To stabilize, WLD needs to hold the $2.11 support level, which could help restore investor confidence. However, if it fails to surpass this point, the price is likely to drop to $1.74, which will likely extend losses and further deteriorate investor sentiment.
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