- WLD was up 10% in the last 24 hours despite mixed on-chain metrics.
Sentiment remained bearish, as only 11% of holders were in profit at the current price.
As a seasoned crypto investor who has weathered multiple market cycles, I’ve learned to read between the lines when it comes to price movements and sentiment. The recent 10% surge of Worldcoin [WLD] is intriguing, especially considering the mixed on-chain metrics.
Over the past week, Worldcoin (WLD) has stood out as a top performer among cryptocurrencies, registering substantial increases in value that indicate a strong upward trend.
In my analysis, I’ve noticed a significant surge in the value of WLD as per the data from CoinMarketCap. Over the past 24 hours, it has experienced an approximately 10% increase on its own.
The significant surge in interest was reflected by the increasing popularity of WLD, with market players observing the current market trend closely.
WLD active addresses are on the rise
Worldcoin’s trading activity was also on the rise, further driving its altcoin price movement.
In the last 24 hours, there was a 8% rise in activity among users dealing with the digital currency, suggesting a higher level of involvement and interest from the market in this particular cryptocurrency.
An increase in active addresses often indicates a surge in both buying and selling actions, thereby enhancing the coin’s liquidity.
Profitability remains low
While WLD’s price has surged significantly, only 11% of its holders were in profit at press time.
This suggests a more widespread pessimistic outlook, implying that most investors are still not making profits from their original investments.
The difference between the rise in prices and the level of profits hinted at a sense of market instability or doubt.
Can WLD hit $2?
Among many traders, the primary query is if WLD can maintain its current surge and surpass the $2 price point.
Despite an increase in active addresses being a promising signal, many on-chain indicators point towards a cautious outlook given the relatively low profit margins.
In simpler terms, this cautious feeling about the coin may prevent significant growth for now, potentially over the next few weeks.
Read Worldcoin’s [WLD] Price Prediction 2024–2025
Despite what its on-chain metrics suggest, the 10% increase in WLD‘s value lately has certainly drawn significant interest within the cryptocurrency community.
Given that just 11% of owners are currently making a profit, and a predominant negative outlook, achieving a price rise to $2 might prove challenging.
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2024-10-06 12:07