Worldcoin (WLD) Price Drops 7% After a Whale Withdraws $9.5 Million in Tokens from Binance

• A newly created wallet withdrew 10.07M WLD from Binance, raising fears of a major off-exchange dump.
• Worldcoin broke down from an ascending wedge pattern, confirming a bearish shift with $0.580 and $0.347 as possible targets.
• RSI and MACD show no signs of reversal, while any bullish invalidation now depends on reclaiming $1.623.

Worldcoin (WLD) is back in the spotlight, but not for reasons its holders would like. The token recently dipped to $0.9492, slipping over 7% on the day, even as its trading volume spiked by 86.41%, CoinMarketCap data shows.

While large withdrawals are not always bearish, movements of this scale from new addresses often signal that a large holder is preparing for off-exchange moves, such as OTC sales, which can precede a price drop.

Whale Withdrawal Precedes Bearish Technical Breakdown

According to Onchain Lens, a newly created wallet withdrew 10.07 million WLD (worth approximately $9.51 million) from Binance. 

While not inherently bearish, large-scale withdrawals, especially from newly formed addresses, often indicate preparations for off-exchange moves such as OTC sales or private custody, potentially signaling reduced marke…

The post Worldcoin (WLD) Price Drops 7% After a Whale Withdraws $9.5 Million in Tokens from Binance appeared first on Coin Edition.