WLD Coin, under the leadership of OpenAI's CEO, Mr. Sam Altman, made its debut in the market on July 24th, 2023. Initially, upon listing, it showcased an impressive surge of 3000%. However, subsequent developments saw a significant downturn of approximately 80%.
While the coin managed to sustain the level of ~$2.5 until the early days of August, it has since embarked on a persistent downward trajectory, plummeting from $2.5 to $1.1.
An analysis of the accompanying volume bars underscores a noteworthy observation: during the decline, trading volumes have notably surpassed those during the ascent, as indicated by the comparatively larger white volume bars in contrast to the blue ones.
Furthermore, a key point to highlight is that the current valuation resides notably below the point of control, denoted by the horizontal white line. This signifies that most traders/investors entered the market around the $2.18 mark, subsequently facing a considerable loss of approximately 50%.
Given the prevailing circumstances, I recommend exercising caution regarding long positions and instead suggest exploring opportunities for short positions within this token's market.
While the coin managed to sustain the level of ~$2.5 until the early days of August, it has since embarked on a persistent downward trajectory, plummeting from $2.5 to $1.1.
An analysis of the accompanying volume bars underscores a noteworthy observation: during the decline, trading volumes have notably surpassed those during the ascent, as indicated by the comparatively larger white volume bars in contrast to the blue ones.
Furthermore, a key point to highlight is that the current valuation resides notably below the point of control, denoted by the horizontal white line. This signifies that most traders/investors entered the market around the $2.18 mark, subsequently facing a considerable loss of approximately 50%.
Given the prevailing circumstances, I recommend exercising caution regarding long positions and instead suggest exploring opportunities for short positions within this token's market.