Worldcoin price plummets after breaking key support

The WLD cryptocurrency is approaching prices close to those of its launch

At the current price, Worldcoin's "basic income" is less than $17 per month.

The fall of WLD comes amid the decline of bitcoin, affecting the rest of the market. The worldcoin token (WLD), which is priced at $2.71 per unit, has seen a 33% drop in the last week, after breaking the key support near $3.3.

A support is a price level at which the supply of an asset is expected to be strong enough to prevent or hinder its further decline.

This situation has led the asset to approach prices similar to those of its launch in July 2023, when it debuted with a value of $2.3.

If WLD managed to break above the key resistance at $3.3 (yellow line), it could signal a trend reversal and the possible start of a bullish cycle, as seen on the TradingView chart. However, if it fails to do so, it is likely let the fall continue. The current trend is bearish, as WLD price has been declining since June 1, far from its all-time high (ATH) of $11.82 reached last March.

Worldcoin is a project co-founded by Chat GPT creator Sam Altman, which collects biometric data from its users through scans of the iris of the eye. Each user who scans into the device called “Orb” receives a “basic income” in the WLD token.

With the current price of

cryptoactive, the basic income delivered is less than 17 dollars per month. The protocol delivers a total of approximately 6 WLD per month to users.

This mechanism, although innovative, is not free of risks and controversies, attracting the attention of numerous governments and being the subject of investigations in several countries.