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Worldcoin Price Going To Zero? Traders Back Other New Cryptocurrency Tokens
New cryptocurrency Worldcoin is down approximately 15 – 20% in the past 24 hours, its token price shaken by criticism from Ethereum creator Vitalik Buterin over ‘major issues’ – centering around accessibility, centralization, privacy and security.
Others have pushed back at Sam Altman and the new crypto project for being ‘dystopian’ – Worldcoin provides users digital coins in exchange for scanning their eyeballs with an orb, intended to ‘scale a reliable solution for distinguishing humans from AI’, the OpenAI CEO claims.
Crypto Expert – Worldcoin Price ‘Going to Zero’
Crypto analysts have pointed out the high fully diluted market cap valuation (FDV) of Worldcoin, currently over $21 billion, based on its 10,000,000,000 total supply and $2.19 price at the time of writing.
$WLD was listed on most major exchanges immediately – including Binance on July 24 – which is usually seen only when a new cryptocurrency is heavily backed by early venture capital (VC) investors. Crypto Twitter traders have already posted skepticism of the ‘VC coin’, similar to the early pushback against Aptos (APT).
Altcoin Sherpa posted a thread to his 196,000 followers, saying he expects the WLD price to eventually trend towards zero:
‘Don’t ever buy this thing as a long term investment. You will get dumped on by VCs – I haven’t looked but I’m guessing the tokenomics on this are bad, prob low float and MMs having large % of supply. Because of this low supply, we can see the WLD price pump massively in order to bait retail to buy, only to see a slow grind down to $0. This is going to be a good vehicle to trade given the liquidity and volatility – this will 100% go lower than you could imagine though and die slow.’
He went on to compare it to other new cryptocurrency launches with VC investors:
‘Study other types of Binance launchpad type of launches when you see these types of big hyped events. Other heavy VC coins like $GALA are interesting to see too. Above all, market conditions will be the key factor for the first few weeks of trading Worldcoin. But make no mistake – this is going to dwindle down to $0 and grind down eventually. Buying this for the long term at these prices is suicidal. Cliffs – trade this in the short term. Dont invest long term. Know the game you’re playing and where you are in the food chain.’
Byzantine General also posted to his 160,000 followers – ‘$WLD worldscam fair value is either 0 or negative.’
@MacnBTC labelled Worldcoin the $DOT and $ICP of 2023, posting a price chart showing the 45% drop in the $WLD price since its Binance listing.
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He later added for his 418,000 followers – ‘nuke this ponzi to zero’.
The latest crypto expert to join the list of those warning against investing in Worldcoin is Slim Trady, who posted today: ‘Don’t buy $WLD. I don’t care if it looks like it’s gonna squeeze or not. The vibes are already tanked. Better off just DCAing a short and closing it out at new perp lows.’
New Cryptocurrency to Watch – BTC20
A low market cap token we recently reviewed, BTC20, is currently undergoing its presale and not yet tradeable on exchanges.
A fair launch public token sale with no private sale or VC investment, and just one price round – with BTC20 token on sale for $1 throughout the presale – so far approximately $2 million has been raised via its official site btc20.com.
The BTC20 crypto project has been reviewed by several prominent crypto traders, including Connor Kenny, Crypto Gains, Crypto Zeus and Michael Wrubel, impressed by its concept of recreating the Bitcoin bull run on the Ethereum chain – its name being a play on ‘Bitcoin’ and ‘ERC20’.
The new cryptocurrency has already raised 66% of its soft cap, and is expected to meet its hard cap of $6.05 million in the coming weeks, recently highlighted in Cointelegraph as having the potential to be listed on Binance alongside Worldcoin.
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