Worldcoin’s (WLD) price is currently experiencing a downward trend, leaving investors wondering whether they should take advantage of the dip and buy or sell their WLD holdings. As of now, the price of Worldcoin sits just below $4.53, reflecting a 9% decrease on Thursday.
The sell pressure faced by Worldcoin is partly due to the recent news that the cryptocurrency has been instructed to halt its operations in Hong Kong due to concerns surrounding privacy. While Worldcoin is an innovative iris biometric cryptocurrency project aimed at empowering humans in the face of advancing AI, its iris scanning technology has raised valid privacy concerns.
In terms of its short-term outlook, Worldcoin appears to be bearish. The cryptocurrency has encountered resistance at its 21 and 50-day moving averages in recent sessions, suggesting that it may soon test previous lows below $4.0.
However, for long-term believers in the project, this dip could present an excellent buying opportunity. If Ethereum continues its surge to new record highs on the back of optimism surrounding the introduction of an Ethereum ETF, and Bitcoin also challenges its all-time highs, it is likely that the Worldcoin price will experience an upward trajectory once again.
Despite these potential long-term benefits, the fundamentals of Worldcoin do raise concerns. Recent analysis by DeFi^2 indicates that the WLD supply is currently being diluted at a rate of 0.6% per day. Furthermore, the supply is expected to increase by 18% as the Worldcoin Foundation plans to sell $200 million worth of discounted tokens to trading firms. Additionally, when the VC and team unlocks occur in two months, the inflation rate will jump to 4% per day. According to DeFi^2, this could result in nearly $50 million worth of sell pressure per day. This type of tokenomics is often seen as predatory, benefiting the team and early investors rather than the overall community.
These factors pose a significant barrier to Worldcoin’s short-term upside potential.
However, there is an alternative to WLD that may be worth considering: Sealana (SEAL), an exciting new Solana meme coin. Sealana features a South Park-themed seal character and has gained traction in meme coin trading circles since its presale launch. The project has already raised over $2.5 million in funds and has a rapidly growing community, with over 5,000 followers on both Twitter and Telegram.
Sealana’s success in marketing and presale has drawn comparisons to Slothana (SLOTH), another Solana meme coin that raised over $15 million in presale and achieved a market cap of over $100 million. Traders are hopeful that SEAL’s success will mirror SLOTH’s, especially considering the rumors of a connection between the two teams.
SEAL has the potential to become a top-performing meme coin and may be an attractive investment opportunity. Investors can purchase SEAL by connecting their web3 wallet on Sealana’s official website using SOL, ETH, USDT, or USDC. The coin is also available for purchase via card.
Please note that cryptocurrency investments carry high risks, and this article should not be considered as financial advice. It is solely provided for informational purposes, and there is a possibility of losing all invested capital.