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Controversial crypto powering a world ID project, Worldcoin, has increased by 4% in just one day. However, those who have missed the early WLD boom would be better off participating in Wall Street Memes presale.

The meme coin project has raised $23 million in its presale round. Those who wish to buy this token at a discounted price of $0.0331 can visit wallstmemes.com.

Worldcoin Experienced a 4% Rally.

In the last 24 hours, Worldcoin has experienced a 4% rally, pushing its price to $1.77 at 4:09 am EST.

WLD’s market capitalization has increased by 5.02% and is now $220.9 million, with a steep decline in its trading volume by 32.86%.

Despite the recent pump, Worldcoin faces blowback from the crypto community and the regulatory authorities.

Worldcoin Draws Criticism from From Many Regulatory Authorities

In a recent report, Reuters revealed a concerning detail about the general manager of Tools of Humanity, the company behind the Worldcoin project. He admitted that Worldcoin could make customer data available to governments and corporations.

While there have been over 2.2 million sign-ups to date, news like this is igniting fears related to the breach of privacy worldwide.

Data watchers from France, Britain, and Germany have started researching this project.

The Bavarian State Office was the first to step in, stating that it has been investigating Worldcoin since 2022 because of its processing large scale of data.

“We are taking measures to learn whether Worldcoin’s system is safe and stable.”, said Michael Will, president of the Bavarian regulator.

Other industry leaders and researchers have also come forward with apprehensions about this project.

Rainer Rehak, a researcher on AI and Society at the Weizenbaum Institute of Berlin, has stated that Worldcoin is an “irresponsible technology” and offers “no clarity” about what problem it is trying to solve.

“The bottom line is it’s a big project to create a new consumer base for Web 3 and crypto products.”, he said.

Kenya, which became one the first and most significant consumers of Worldcoin’s offerings, also decided to take a step back and suspend Worldcoin’s operations temporarily in the region due to privacy concerns.

From Ethics to Breach of Privacy – Crypto Twitter is Riled Up

Worldcoin’s recent performance has inspired no one among the crypto influencers, with most up in arms of this centralized technology that multiple venture capitalists have backed.

Dagnum PI has thrown a jab at Worldcoin through his tweet on X, asking sarcastically what could go wrong.

Scan your eyeballs they said
It is totally safe they said
What could possibly go wrong#Worldcoin $WLD pic.twitter.com/dCP1wXGziE
— Dagnum P.I. (@Dagnum_PI) August 4, 2023

VCare_ETH, another crypto influencer, claims that they now understand the dangers of Worldcoin after understanding its whitepaper.

Many have likened it to a CBDC coin designed to lay the foundations of mass surveillance.

LINING UP LIKE LAMBS TO THE SLAUGHTER. IT IT IS TERRIFYING THE NUMBER OF PEOPLE WILLING TO SELL THEIR SOUL, FOR A COUPLE OF INTERNET COINS. THIS MUST BE STOPPED. RESIST NOW OR LIVE FOREVER UNDER SURVEILLENCE. https://t.co/pyqvmQKaIg
— ANTI-CBDC COIN (@antiCBDC_) July 26, 2023

Worldcoin Price Analysis

Worldcoin had painted green candles the last two days, resulting from the bounce a day earlier when the token dropped to $1.663.

The hourly chart, however, shows a different story. Worldcoin has recently painted a red candle, preceded by a long-legged doji, indicating that the token may go bearish soon.

From a technical perspective, Worldcoin’s RSI is closer to the oversold zone, and its MACD is positive, indicating that the interest in this asset has increased. But it is not clearer how long tokens will continue to engage the community.

Worldcoin Alternative – Wall Street Memes

Wall Street Memes is a meme coin presale that hit the ground running with its presale more than a month ago and has now raised more than $23 million.

Inspired by Wall Street Bets, Wall Street Memes is a crypto community that uses memes on X and other social media platforms to keep the audience engaged.

Its performance on social media has created enough buzz even to get the attention of Elon Musk. These factors fuel its presale, and experts say it can go 10x once it lands on cryptocurrency exchanges.