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The Worldcoin price plunged 10% to trade for $7.376 as of 2:50 a.m. EST time on trading volume that fell 10%.
Other AI crypto sector tokens including Fetch.ai (FET), Render (RNDR), SingularityNET (AGIX), and the Akash Network (AKT) are also down between the 5% to 10% range. The sector’s market capitalization is up by only a fraction, as meme coins have all the fun.
Meme Narrative
For those who are ignoring memecoins, let me remind you that in the 2021 bull market, memes were THE best performing narrative of the year.
Ranked 3 times as #1 narrative with average returns surpassing by far any other narrative that ranked #1 pic.twitter.com/HHcr1dJ0sM
— Crypto Koryo (@CryptoKoryo) March 5, 2024
Nevertheless, the dip in the Worldcoin price, as well as its peers in the meme coin sector, could be a good buy opportunity. NVIDIA 2024 GTC AI Conference, the largest event organized by the firm, is slated for between March 18 and 21 in Silicon Valley. In this event, there will be more than 300 exhibits spread across more than 900 sessions.
Sure feels like the market’s gifting us AI coins on a platter, just ahead of NVIDIA’s big dance! Speaking of AI, working on something cool with @SocialHypeIO, marrying AI and Web3!
— Lexus Pfeffer (@Lexus__Pfeffer) March 4, 2024
In the past, such Nvidia events have seen AI crypto tokens yield double-digit weekly and monthly gains for respective holders.
One theory for the ongoing correction is profit taking as traders cash in on recent gains. Nvidia became a top three firm globally by market capitalization after it overtook Saudi Aramco, data according to companiesmarketcap.com shows.
Companies by market capitalization
This sprint is likely inspired by the growth in the importance of AI technology to daily living, especially in functionality, which continues to drive AI crypto coins prices. The NVIDIA 2024 GTC AI Conference could inspire a comeback among AI crypto tokens.
For the layperson, Nvidia Corporation is an American multinational technology company that has a big influence on AI crypto coins because it makes the chips that drive AI functionality.
Worldcoin Price Prognosis Ahead Of The Nvidia Conference
The Worldcoin price remains above the support offered by the ascending trendline at the $7.000 psychological level. The level to beat is $8.569, but the market currently favors the downside. For starters, the Relative Strength Index (RSI) is moving below its signal line (yellow band), with its overall southbound direction suggesting falling momentum.
The histogram bars of the Awesome Oscillator (AO) are also reducing in volume and steadily edging towards negative territory. This increases the odds for an extended fall. To make things even more brutal for the Worldcoin price, its Moving Average Convergence Divergence (MACD) indicator has crossed below its signal line (orange band). This crossover is considered a bearish sell signal.
Increased seller momentum could see the Worldcoin price slip below the $7.000 psychological level, potentially extending the $6.000. For the big-picture bullish outlook to be invalidated, the Worldcoin price must break and close below $4.207. Such a move would constitute a 40% drop below current levels.
TradingView: WLD/USDT 1-day chart
On the other hand, if the bulls return to the scene, the Worldcoin price could push north, shattering the $8.569 roadblock. A flip of this blockade into support would pave the way for more gains. This could set the pace for the Worldcoin price to reclaim the $9.450 range high, or in a highly bullish case, extrapolate to the $10.000 psychological level. Such a move would denote a 35% climb above current levels.
Nevertheless, as markets wait for the Worldcoin price to make a comeback, investors are rushing to get in early on SCOTTY, as this AI meme coin presale soars past $2.4 million.
Promising Alternative To Worldcoin
SCOTTY, the powering token for Scotty the AI, is the latest dog-themed meme coin in the market, and could thrive as sector tokens soar. It joins its peers, Dogecoin (DOGE) and Shiba Inu (SHIB), but with a massive edge as it is also backed by advanced AI models with real-world utility.
The unique mix of meme coin and AI could catalyze a surge in SCOTTY.
With the cryptocurrency markets rallying, steered by spot Bitcoin ETFs (exchange-traded funds), among other themes, cybercriminals continue to sprout looking to exploit unsuspecting crypto investors. With Scotty the AI, the crypto community now has a new defense system against this growing threat by using sophisticated AI models.
To do this, Scotty the AI combs through the endless lines of code to identify potential threats buried deep within smart contracts. It also uncovers bugs that smart contract developers may have unintentionally missed. Security threats or bugs identified in the code are immediately flagged so that holders do not interact with the smart contract. This prevents a potential loss of funds as a result.
The project is in the presale stage, with sales surging past $2.4 million as it heads towards its $2.656 million target. Investors looking to buy SCOTTY can do so for $0.0073. This price will only last for a little less than 10 days before another price increase so act soon if you plan to buy.
ScottyTheAi # 1 memecoin of 2024
Stage 11 of public presale has now sold out!
stage 12 now live and moving fast. BUY before price increases next stage.
BUY $SCOTTY presale at https://t.co/zRmy4g8hfW#memecoin #Bitcoin #crypto #Ethereum pic.twitter.com/honbsVR63i
— Scotty The Ai (@ScottyThe_Ai) March 5, 2024
You can also stake your SCOTTY tokens for Annual Percentage Yields (APY) as high as 71%. Token rewards will be distributed to users at a rate of 82.5 $SCOTTY per ETH block.
Visit and buy SCOTTY here.
Also Read:
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- Staking Rewards – Over 50% APY
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