Worldcoin (WLD) price has tumbled -6.2% as traders take a quick exit on the iris biometric-linked decentralized identity token – leaving some bag-holders asking ‘is Worldcoin going to zero’?
Yet, the downside price action comes amid signs of growing success for the controversial project, with the Worldcoin crypto wallet now claiming 1m+ active addresses.
World App is designed to help make digital identity & global finance accessible to everyone.
Thank you for 4 million downloads 🫶 pic.twitter.com/EmDDGhkpcV
— Worldcoin (@worldcoin) November 1, 2023
The strong wallet growth has been matched by equally impressive dApp downloads, which today hit a new high at 4m downloads – ranking it as the 6th most popular hot wallet.
WLD Price Analysis: Is Worldcoin Going to Zero Amid -6.2% WLD Price Tumble?
Despite obvious signs of growth for the Worldcoin project, WLD is currently trading at a market price of $1.83 (representing a 24-hour change of -2.86%).
The downtick appears to have been triggered by rejection from the $2.00 price level – which was last touched historically on August 8.
Worldcoin’s retracement move is now seemingly coming down to touch on the $1.80 support level, an area that provided significant support over the weekend, catapulting price action up for the resistance test at $2.00.
Lower support can also be found at $1.68, which has been bolstered by an ascendant 20DMA (currently sat $1.70).
Meanwhile, the retracement move appears to have strengthened technical poise, with the RSI cooling off quickly as WLD price moves to lower support.
Now stood at 54.94, the RSI sits on the precipice of switching to bullish signalling, suggesting a second-run at resistance at the $2.00 level is likely.
This view is reinforced by the MACD, which continues to show bullish divergence in momentum at 0.016.
Overall, Worldcoin looks quite strong here, with WLD price likely to enter a second retest at $2.00 after establishing a bounce off lower support.
To the upside this leaves WLD price targeting a break above resistance to $2.10 (a possible +16.67%)
While downside risk could see WLD price return to lower support at $1.68 (a potential -6.67%).
On the short-time frame, WLD price therefore has a risk: reward of 2.5 – a good entry suggesting that Worldcoin is not going to zero anytime soon.
But while traders attempt to catch WLD’s falling knife, smart money are shifting their attention to the fastest growing presale in space – Meme Kombat.
Meme Kombat Hits $1.1M in Funding As Meme Coin Capital Floods Into Presales
Meet Meme Kombat, a trailblazing initiative that has seamlessly blended the memetic love of nostalgic gaming, and GambleFi, into a decentralized Web3 platform.
So, what makes Meme Kombat tick, and why should potential investors keep a keen eye on this presale?
The essence of Meme Kombat lies in its captivating arena where characters aiming to tap into deeply tribal crypto communities lock horns.
Players have the liberty to place their bets on these animated battles, predicting the outcomes and possibly reaping attractive rewards.
Only 90 minutes left at $0.1667!
Last chance to get it so low fighters⏰ pic.twitter.com/6UoKdq1WrQ
— Meme Kombat (@Meme_Kombat) November 2, 2023
With a sturdy promise of Season 1 showcasing 11 distinct meme characters, there’s no shortage of action, and Season 2 is already on the horizon for December 2023.
The decentralized nature of the project, combined with the thrill of AI-driven battles, ensures that the outcomes are both transparent and unpredictable – every battle is a new experience, ensuring players stay engaged.
Delivering GameFi to Crypto Rivalries in Dramatic Fashion with Staking
The project isn’t just about excitement; it’s built on a foundation of trust – Meme Kombat’s commitment to transparency is evident through initiatives like the impending security audit of their smart contract.
The findings of this audit will soon be public, a move that many projects shy away from.
The founder and project lead, Matt Whiteman, isn’t an unknown entity in the crypto space.
His experience spanning two decades in process design, combined with his position as the COO of North Technologies, adds credibility to Meme Kombat.
When so many projects hide behind the veil of anonymity, Whiteman’s open profile and the project’s physical address in Amsterdam offer an extra layer of trustworthiness.
The tokenomics of Meme Kombat is also an appealing factor for potential investors – Stake the Meme Kombat ($MK) token, priced attractively at $1.667, and dive into a rewarding ecosystem.
With a generous APY of 112%, stakers not only benefit from passive income but can also use their staked tokens to place bets in the arena – this dual functionality – earning while gaming – sets Meme Kombat apart.
Intriguingly, engagement on the platform directly influences the income one can earn, so, the more you participate, the more you stand to gain.
With the GambleFi industry booming following coins like Rollbit, Meme Kombat seems poised to tap into this lucrative market with its innovative approach.
By merging memes, gaming, and blockchain, the platform is presenting something fresh to the crypto community.
For those looking to diversify their portfolio with a unique offering, Meme Kombat seems like an opportunity too good to miss – so, don’t be left behind (stay tuned with the MK Telegram).
Embrace the future of meme-based gaming and betting with Meme Kombat.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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