Worldcoin tumbles to about $0.25 after Elon Musk’s “Scam Altman” posts and courtroom testimony | Credit: Hameem Sarwar
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Key Takeaways
WLD has hit a new low amid ongoing tensions between Elon Musk and OpenAI.
Persistent negative funding rates suggest bearish positioning, but also potential for a short squeeze.
While buying pressure could drive a rebound. Worldcoin’s price is likely to slide lower.
Worldcoin (WLD) has dropped to a fresh all-time low, as legal tensions around OpenAI heat up and Elon Musk’s criticism on social media continues to pick up momentum.
At the time of writing, the token is trading around $0.25—down roughly 46% over the past three months.
In this analysis, CCN breaks down what led to the decline and what lies ahead for Worldcoin’s price.
Elon and Sam Put Worldcoin on the Spot
According to CCN’s analysis, the ongoing feud between Elon Musk and OpenAI CEO Sam Altman has played a key role in Worldcoin’s price decline.
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In a 2024 lawsuit, Musk alleged that Altman and OpenAI President Greg Brockman personally benefited from shifting the company toward a for-profit model, supported by billions in funding from Microsoft.
This week, Musk took the stand as part of the case. During his second day of testimony, he said he had contributed $38 million in cash, but claimed the company’s leadership had strayed from its original mission.
Leading up to the testimony, Musk had also been openly critical of OpenAI’s leadership on social media, at times using harsh language—including referring to Altman as “Scam Altman.”
Shorts Have the Upper Hand
Following these developments, WLD’s funding rate has flipped sharply negative.
As seen below, funding was mostly neutral to slightly positive during the rally into mid-April—typically a sign of a healthy trend.
What stands out is that it has remained in negative territory even as the price has gradually trended lower.
The key nuance here is that WLD’s price isn’t dropping as sharply as the funding rate might suggest.
If this negative funding persists while the price stabilizes, it could create conditions for a short squeeze. If that plays out, it may drive the altcoin’s price higher.
Notably, the altcoin has remained in a clear macro downtrend since its post-launch spike, with a descending trendline consistently rejecting every recovery attempt.
Now we’re seeing the price grind right along both that trendline and the horizontal support around $0.25.
Additionally, momentum is muted, as the Awesome Oscillator (AO) is flat to slightly negative.
At the same time, the Relative Strength Index (RSI) is sitting in the high-30s, which tells that there is no strong bullish pressure yet.
Also, no aggressive sell momentum left either. If this base holds and WLD’s price reclaims the trendline, the first upside target would be breaking back above $0.30.
Should that be the case, this could open the door to a move into the broader supply range toward $0.38.
But if this level fails, there’s not much historical support underneath. Instead, the altcoin will likely see a continuation of the decline, with little friction, since the entire range below is essentially price discovery from the initial listing unwind.
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.
