Worldcoin Soars Back to $2: Will Holders Ignite a Bullish Trend?

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Worldcoin (WLD) has shown impressive performance in the crypto market over the past week, with a steady price increase that has brought it back into the $2 range. Despite recent gains, a majority of its holders remain in loss, which may lead to reduced sell pressure as they anticipate higher prices. 

Worldcoin Holders Driving a Bullish Trend?

Worldcoin reached a peak of around $12 earlier in the year before seeing a major price drop. By mid-April, WLD had lost 69% of its peak value, settling in the $3-$4 range. This correction led to a prolonged period of losses for many holders, and currently, approximately 71% of WLD investors are still facing losses despite the recent uptick in price. 

According to historical data, only about 23% of WLD holders are in profit, while 6% are at break-even. However, if more holders opt to hold instead of sell, this sentiment could support a bullish trend, as steady demand combined with limited selling could drive prices higher.

WLD Social Media Buzz

Alongside the price increase, Worldcoin’s social media presence has surged, marking a new high in public attention. The token’s 7-day Moving Average Social Dominance—a measure of how frequently an asset is mentioned across social platforms—has climbed significantly, from 0.021% to 0.30%. 

The recent rise in social mentions was further fueled by a major funding announcement by OpenAI, with which Worldcoin shares a connection through OpenAI’s co-founder, Sam Altman.

WLD Price Forecast: Is $2.47 Within Reach?

Technical analysis for Worldcoin shows promising indicators, with a 27% gain from recent lows and bullish signals in its EMA lines. On October 6, WLD’s short-term moving averages crossed above its long-term ones in a formation known as the “golden cross,” a strong bullish indicator.

If Worldcoin maintains its current trajectory, analysts expect it to test the $2.18 resistance level soon. Breaking past this level could allow WLD to reach as high as $2.47, a price it hasn’t seen since July 2024, representing a potential 23.5% increase from current levels. 

On the downside, if the market turns bearish, WLD has established support at $1.59, $1.51, and $1.38.