Worldcoin’s (WLD) Value Dips Weekly Low as User Base Exceeds 10M

• WLD reaches a 7-day low at $6.442, down 5.58% despite hitting 10M users.
• Worldcoin introduces features enhancing privacy and security.
• Technical indicator signs suggest a potential bullish reversal for WLD/USD soon.

Worldcoin (WLD) token has experienced a decline, reaching a seven-day low in the last 24 hours. The token, which is managed by Tools for Humanity (TFH), fluctuated between $6.873 and $6.332 during the day. 

WLD/USD 24-Hour Chart (Source: CoinStats )

As of the latest reports, WLD traded at $6.442, marking a 5.58% fall from its daily high. This dip in value contrasts sharply with Worldcoin’s expanding customer base, which has now hit 10 million users through its World App wallet.

Rapid Growth Amid Market Challenges

On April 11, 2024, TFH celebrated reaching 10 million users, a marked milestone for the digital identity and cryptocurrency project led by OpenAI CEO Sam Altman. Despite the growing interest in the World App and nearly 5 million sign-ups for the World ID platform, Worldcoin’s value has not mirrored this positive trend. As a result, the continued bearish momentum in the market raises concerns about the token’s future performance.

Tiago Sada, Head of Product at TFH, expressed satisfaction with the milestone, emphasizing the impact beyond mere numbers. This reflects a broader vision of Worldcoin, which aims to combine user growth with meaningful technological contributions.

Tiago Sada stated in a blog post:

“We’re of course thrilled about the milestone, but even more so about the real world impact it represents.”

In addition to user growth, Worldcoin has introduced new features aimed at enhancing personal data protection and refining age verification processes. On April 9, the company announced key updates to their World ID platform, which include the ability to delete iris codes, effectively unverifying a World ID permanently. 

This feature aligns with growing demands for privacy and security in digital identification. Furthermore, the introduction of in-person age verification checks is set to improve the reliability of age data within the World ID framework.

WLD/USD Price Analysis

The 4-hour chart for the WLD/USD pair shows a bearish sentiment, as indicated by the MACD (Moving Average Convergence Divergence) positioned at 0.147 in the negative region. Despite this, there are signs that the downward trend might be temporary. The MACD line is slightly above the signal line and is trending upward, hinting at a potential bullish reversal. 

WLD/USD 4-Hour Chart (Source: TradingView )

Furthermore, the histogram bars are positioned below the zero line, supporting the current bearish outlook. However, they are decreasing in size, suggesting a weakening in bearish momentum and a possible shift toward a bullish direction soon. Additionally, the RSI (Relative Strength Index) stands at 42.86, positioned in the neutral zone. 

This indicates that there is currently no strong trend driving the market. The RSI’s neutral stance, combined with its upward trajectory, suggests that there might be an opportunity for buyers to influence the market, potentially leading to a bullish reversal. This movement of the RSI above the signal line in a vertical direction further supports the likelihood of an upcoming bullish change in the WLD/USD pair .