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Worldcoin whales keep WLD in the picture: Here’s how

Press Releases Crypto News AMB-Crypto Worldcoin whales keep WLD in the picture: Here’s how

Whales now own almost 70% of the total WLD supply.
Active addresses decreased but WLD seems closer to the bottom than the top.

In the last 30 days, the price of Worldcoin [WLD] has increased by 48.28%, according to CoinMarketCap. However, from AMBCrypto’s findings, the price increase would have been impossible if not for the role whales played.

Using Santiment’s balance of addresses metric, AMBCrypto discovered that wallets holding 100,000 to 1 million coins have increased their WLD holdings. It was also the same situation with the 10,000 to 100,000 cohort.

At press time, the 100,000 to 1 million group accounts for 68.52% of the total WLD supply.

Source: Santiment

WLD needs more than large players

Such dominance implies that actions by the group have a significant impact on the price action. So, this data showed that the rise in accumulation had a notable impact on how WLD moved within the period.

At press time, WLD’s price was $3.70. Considering the 4-hour analysis of the token, the Exponential Moving Average (EMA) showed that the cryptocurrency might keep trading around the same range for a while.

This was because the 20 EMA (blue) and 50 EMA (yellow) closed in on one another.

A position like this suggests sideways movement. So, depending on who makes the first move, Worldcoin might either nosedive or rise afterward. The Relative Strength Index (RSI) also confirmed the sentiment.

As of this writing, the RSI was 54.12, indicating indecisiveness in momentum. Should buying pressure increase, then WLD might reclaim $4.

But failure for that to happen could result in a fall below $3.58 where the 50 EMA point was.

However, the Awesome Oscillator (AO) signals revealed that WLD’s potential to rise was more than the possibility of falling. As of this writing, the AO was 0.11, indicating an increasing upward momentum.

From the reading, the only thing needed to confirm a bullish thesis is a surge in buy orders.

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Author: Victor Olanrewaju

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