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WLD Faces Sharp Selling Pressure Amid Supply Surge
Worldcoin has hit a rough patch, sliding to $0.51 with a 12% drop over the past week as mounting sell pressure weighs on the token. The immediate culprit? A significant unlock event that released 21.5 million WLD into circulation this week, flooding the market with fresh supply at an inopportune time.
The broader market backdrop isn't helping matters either. Bitcoin dominance currently sits at 59%, pulling liquidity away from mid-cap altcoins like WLD. This liquidity drain has left the token vulnerable, breaking through key moving averages and testing the $0.50 support level. Without a shift in macro conditions or reduced selling pressure from unlocks, WLD could face further downside in the near term.