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Will Worldcoin Continue to Decline After a 70% Drop from its Peak?

Will Worldcoin Continue to Decline After a 70% Drop from its Peak?

The price of Worldcoin (WLD) is expected to remain anchored around $2 until October due to its initial supply distribution. The token has experienced volatility since its debut on mainstream cryptocurrency exchanges, with a peak of $7.50 and a current price of $2.35. The Worldcoin Foundation, launched by OpenAI’s Sam Altman, has distributed 43 million tokens to app users via airdrop, with the remaining 100 million tokens loaned to market makers until October. These market makers can either return the tokens or purchase them for $2 + ($0.04 * X). This anchoring strategy aims to make the token attractive to potential users. Despite limited trading history, the token appears to be fluctuating within an ascending channel pattern on shorter timeframes. A close above the upper trendline could lead to a rally towards the $2.50–2.56 range, while breaking below the lower trendline could result in a test of the $2–2.10 range. It is important for readers to conduct their own research and make informed decisions when it comes to investments and trading.

Summary:

– WLD price may remain anchored around $2 until October due to initial supply distribution

– Worldcoin Foundation has distributed 43 million tokens to app users via airdrop

– Remaining 100 million tokens loaned to market makers until October

– Anchoring strategy aims to make the token attractive for potential users

– Limited trading history, but token appears to be fluctuating within an ascending channel pattern

– Close above upper trendline could lead to rally towards $2.50–2.56 range

– Breaking below lower trendline could result in test of $2–2.10 range

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