Worldcoin (WLD) fell below $8 today, while analysts warn that the historical high may have passed due to the background of a large amount of unlocking and the possibility of the project team controlling the skyrocketing of WLD.
Analyst: WLD will face a massive unlocking in the coming weeks
Worldcoin, a cryptocurrency project co-created by OpenAI CEO Sam Altman, has experienced a surge this month, with WLD skyrocketing nearly 223.6% in the past two weeks, surpassing $9 at one point.
The reason for this sharp increase is speculated to be related to the new AI model Sora released earlier this month by OpenAI, as well as the record-breaking market value of AI chip manufacturer NVIDIA. However, it is important to note that Worldcoin currently has no cooperation with the aforementioned AI companies and has not incorporated AI elements. It is more likely driven by speculation.
Analyst: There is a high risk in buying WLD at the moment
Just as WLD continues to hit new highs, anonymous analyst @DefiSquared posted on the social platform X yesterday evening, stating that the current high market value of Worldcoin is mainly due to its extremely low circulation and the narrative of AI, but this situation is about to change:
Worldcoin project team may control the price by selling off-the-market at the current high point, as they have complete control over the unlocked WLD treasury liquidity.
Finally, @DefiSquared pointed out that based on the data from previous bull markets, about 97% of the top 200 altcoins experience a decline of 90% or even more in the end. As a meme coin with a higher valuation than OpenAI, WLD will not be an exception.
Looking at the current price, despite the rise of Bitcoin last night, driving the overall market to rise, WLD did not benefit from it. It fell from the $9.2 level yesterday noon and is currently reported at $7.8, a drop of nearly 10% in the past 24 hours.
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