Key points
- Worldcoin fell nearly 7% after rising 21% over the week.
- WLD's key support level is near $0.50
- Concerns about token supply may make the next rally more complex.
Worldcoin (WLD), the cryptocurrency associated with OpenAI CEO Sam Altman’s digital identity project, fell nearly 7% on October 22, giving back part of its recent 21% weekly gain as traders reassess the sustainability of this rally.
Earlier on Thursday, WLD traded at approximately $0.5455, down 6.61% over the past 24 hours. Volume also declined significantly, indicating that the token’s previous upward momentum is cooling rather than accelerating toward a broader breakout.
Worldcoin price declines as 21% rebound momentum weakens
During this sell-off, Worldcoin's trading volume decreased by approximately 38.5%, with a market capitalization of around $2.08 billion.
However, the token has still remained in an uptrend over the past week, indicating that this pullback has not fully erased recent gains.
This volatility is similar to the speculative rebound in June, when Maelstrom, backed by Arthur Hayes, described Worldcoin as a promising AI-related investment.
Will Worldcoin face increased selling pressure?
For traders evaluating price prospects, Worldcoin’s circulating supply remains an important consideration.
According to Tokenomics.com, during a vesting event on October 24, approximately 100.1 million WLD tokens, valued at around $59 million based on their reference price, were released. The distribution breakdown was as follows: 48.6% to community distribution, 28.3% to private investors, and 23.1% to insiders.
However, different token trackers classify World’s ongoing release schedule inconsistently. This event should not be considered a confirmed one-time exchange deposit, nor should it be automatically treated as an immediate increase in tradable supply.
As Coinpaper explained in its token unlock analysis, planned releases do not necessarily trigger selling, as recipients can choose to hold onto their tokens.
The World ecosystem has also attracted corporate investment. Eightco previously disclosed a significant WLD treasury position, providing another example of institutional exposure to the token.
However, increased corporate holdings and higher World ID adoption do not automatically translate into new buying demand for WLD.
Worldcoin price prediction: Will WLD drop below $0.50?
Short-term technical analysis shows that WLD's first major resistance level is near $0.596, with another resistance level near $0.624.
If the daily close remains above $0.60, it will strengthen the bullish rebound scenario; if trading activity improves, the price could rise further to the $0.62–$0.66 range.
Conversely, if the price remains weak below $0.54, it may decline toward the $0.50 level, where multiple technical indicators suggest stronger support.
If this psychological level is clearly broken below, market attention will shift to $0.45, indicating an additional potential downside of approximately 17% from the $0.54 level.
This investment thesis remains closely tied to the demand for "proof of humanity" technology. However, previous institutional research has questioned whether the expansion of AI activity necessarily creates value for public blockchain tokens.