Despite heavy whale buying, WLD’s price is still under pressure.
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Key Takeaways
Two wallets withdrew over 18 million WLD from Binance, worth $17 million.
Despite this, Worldcoin’s price trades are below its realized price of $0.98.
CMF remains negative, reflecting capital outflows and bearish momentum.
Crypto whales are buying the dip on Worldcoin (WLD), according to on-chain data tied to Binance inflows. This development comes after Worldcoin’s price slid 18% within the last seven days.
As of this writing, WLD trades at $0.93, 61% up from its all-time low in April. But does this recent accumulation indicate that WLD will see an extended recovery?
Let’s find out in this analysis.
Worldcoin Whales Accumulate
According to Spot On Chain, two wallets accumulated 18.19 million WLD tokens earlier today, withdrawing them from Binance. At current prices, this haul is worth over $17 million.
This accumulation happened during Worldcoin’s recent price decline, suggesting that crypto whales are buying the dip. If this trend continues, it could signal that WLD has found a bottom, increasing the likelihood of a price rebound in the short term.
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However, on-chain data from Glassnode suggests it may be too early for a sustained rebound. According to the analytics platform, Worldcoin’s price has fallen below its realized value of $0.98.
The realized value represents the average on-chain acquisition cost and typically acts as support when below the market price. But since WLD is trading beneath this threshold, it has flipped into resistance, indicating that further downside may be possible before any recovery.
Looking at the on-chain perspective, the In/Out of the Money Around Price (IOMAP) further supports the bearish thesis outlined above.
According to IntoTheBlock, 516 addresses that bought 98.95 WLD around $0.97 are underwater. This creates a supply zone or sell wall, just above the current Worldcoin price, as these holders may attempt to break even during any short-term bounce.
In contrast, the number of addresses “in the money” at lower levels appears relatively small, meaning there is weaker support if WLD’s price drops.
Due to this, WLD may struggle to reclaim higher price levels in the near term unless buying pressure increases.
WLD In/Out of Money Around Price | Credit: IntoTheBlock
WLD Price Analysis: Not Recovery Season
From a technical perspective, Worldcoin’s price action reflects persistent bearish pressure, as the token trades in a descending triangle. Currently, WLD is hovering around the horizontal support level at $0.93.
On the daily chart, the Relative Strength Index has edged closer to the oversold threshold, suggesting that bearish momentum could soon be exhausted. However, this signal alone may not be enough to trigger a rebound.
Further reinforcing the bearish bias, the Chaikin Money Flow (CMF) remains below the zero signal line. This indicates that capital outflows are outweighing inflows. Any upward movement could be short-lived until this indicator flips to the positive side.
Should the downward momentum persist, WLD’s price might breach the $0.93 support and decline toward $0.84.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
