Watch out, because the situation with Worldcoin is getting spicy, could it be that this digital identity project deflates right at its hottest moment? 🤔🔥
Attention, folks! Imagine that your crypto project, which scans eyes to give you a digital identity, is on the edge. That's what is happening to Worldcoin. Its token, the WLD, is struggling not to fall off the cliff and the regulatory environment is getting denser than a tamale. 🥵
The thing is that Worldcoin is no longer just facing the typical market volatility, but now has the governments of several countries breathing down its neck. China 🇨🇳, for example, has already said that it is a threat to national security. And not to mention Kenya 🇰🇪, where they are about to decide whether they have to delete the data they have collected. They have already had to exit Brazil, France, and India. It's a domino of problems! 📉
And the deal is that Asia is one of its largest markets, with almost half of its users. If they close that door, goodbye growth!
Now, if we get into the technical part, the situation is not better. The price of the WLD token fell below a dollar ($0.94) and crypto experts are saying that if it doesn't recover, it could fall to $0.50. 😱 The technical signals are very clear: the price is below the moving averages and the momentum indicators are pointing down. It's as if the token is running out of gas.
Despite all this, there is something quite curious: speculators are still betting heavily. There is a lot of money in the derivatives markets, which shows that people still have faith that there will be a rebound. However, with the increase in the supply of tokens in the market, the selling pressure is felt strongly. It's like a tug-of-war between those who believe it will go up and those who bet it will fall. 🥊
The future of Worldcoin does not only depend on what the charts say. It depends on whether it can convince regulators that its technology is not a danger, while defending itself from a price drop. And what do we do? Well, we observe and see if this project manages to get out of the hole or if it remains just an idea that sounded good on paper.$WLD
