Worldcoin's WLD token dropped 8.33% to $0.58 on Wednesday, extending a losing streak as technical indicators flash weakness and a major supply reduction approaches on July 24. Sellers have been actively hitting bids, with momentum on the MACD turning negative.
Supply cut on the horizon
Nearly half of WLD's circulating supply is set to disappear on July 24, when a 43% reduction goes into effect. The event, built into the token's smart contract, will lock away roughly 43 out of every 100 tokens in circulation. While supply cuts often buoy prices in theory, the market is currently pricing in uncertainty. The token has shed more than a third of its value over the past month.
What the charts show
The MACD — a momentum indicator that tracks the relationship between two moving averages — has turned bearish, crossing below its signal line. At the same time, sellers are consistently hitting bids, meaning they're willing to accept lower prices to exit positions. That combination has pushed WLD to its lowest level in weeks, with support near $0.55 under threat.
Smart money's bet
Not everyone is running for the exits. Data from on-chain analytics shows that so-called smart money wallets — addresses that have historically traded profitably — are sitting 56% net long on WLD. That means the majority of these sophisticated traders are betting the token will rise, even as retail sellers pound the ask. The divergence suggests a potential shakeout before any rally, or that smart money is positioning ahead of the supply cut.
The July 24 deadline is now the key date on the calendar. Whether the reduction triggers a squeeze or another leg down depends on whether the selling pressure exhausts itself before then.
