NAIROBI (Coinchapter.com) – Both MEW and WLD are trading with losses today. However, Cats in Dog (MEW) has begun to see some recovery following its listing on a major cryptocurrency exchange. OKX’s announcement of support for MEW sparked a surge in the token’s price initially. This news comes after MEW experienced a significant price drop during the recent Bitcoin correction, fueling the token’s rebound.
MEW Price Plummets, Whale Takes Advantage
During the latest Bitcoin correction, MEW experienced a significant price drop of over 52%, plummeting from $0.00402 to as low as $0.00189 over the weekend. However, a savvy whale recognized the opportunity and seized the moment, purchasing a staggering 479.6 million MEW on Sunday.
As MEW hovers around the $0.0061 price point, investors are advised to watch for a break below the rising wedge and the 0.618 Fib level to confirm a bearish outlook. A sustained move above these levels may negate the bearish scenario, possibly pushing prices towards the $0.00846719, a 1.618 Fib extension level.
Despite the volatility, MEW has managed to maintain its position. It is currently trading at $0.006152 and has a market capitalization of $546,811,102, ranking it as the 124th largest cryptocurrency.
Cats in Dog (MEW), a popular meme-inspired cryptocurrency, saw a remarkable price surge after being listed on one of the largest crypto exchanges, OKX. The announcement of the listing on Monday led to a 38.22% jump in MEW’s price before it retraced to the support zone of $0.00450 by the end of the day.
World Coin (WLD) Faces Legal Scrutiny in Argentina
Meanwhile, World Coin (WLD), the token associated with the Worldcoin protocol, has experienced a 4% decline within the past 24 hours, currently trading at $4.82. This price movement comes amid increasing legal scrutiny facing the Worldcoin project in recent months, particularly in Argentina.
Consumer protection organizations in Buenos Aires have found inconsistencies in Worldcoin’s handling of biometric data collected from local citizens. These include clauses in contracts that allow the company to suspend services without issuing refunds, thereby infringing upon consumer rights. Additionally, Worldcoin has been accused of failing to issue any statements prohibiting minors from registering on its platform.
As a result, Worldcoin is now facing a fine of over $1 million in Buenos Aires for allegedly incorporating unfair terms into its contracts, violating Argentina’s National Consumer Protection Law.
Beyond the legal challenges, the overall market correction has also impacted WLD’s performance. CoinGecko data reveals that WLD’s trading volume in the last 24 hours amounts to $319,113,250, indicating a decrease of 7.10% compared to the previous day. Additionally, WLD has witnessed a significant decline of over 58% from its all-time high of $11.74, which reached March 10.
In conclusion, the cryptocurrency market continues to be a dynamic and constantly evolving landscape, with both MEW and WLD experiencing notable price fluctuations and legal developments in recent times. As the industry matures, investors and enthusiasts will need to monitor the per closely.
