Why Worldcoin (WLD) And PEPE Dominate The Crypto Market Trends This Week

Worldcoin and its native token WLD have been taking the attention of crypto investors, according to recent data from Coingecko. The project recently announced its worldwide launch inviting users to “visit the orb” and receive rewards by onboarding the platform.

WLD has doubled its value from its launch on July 24th, when the cryptocurrency was trading at around $1. The token rose to $2.19 the following week and has been moving sideways since amid a surge in controversy from different angles.

In addition to WLD, Coingecko shows that Bitcoin (BTC), Unibot (UNIBOT), Chainlink (LINK), HarryPotterObamaSonic10Inu, and Pepe Coin (PEPE) have been trending along with other tokens. Bitcoin remains the leader on this chart despite the crash in the BTC.D chart.

This metric gauges the percentage of the crypto total market cap comprised solely of Bitcoin’s market capitalization. Often, when the chart trends to the upside, altcoins, such as Worldcoin (WLD) and PEPE, experience a drop in their prices and vice versa.

In that sense, WLD’s launch came at a favorable time for small tokens. The project has promised a reward for every user willing to scan their eyeballs with one of the devices scattered around different countries.

Thus, sparking controversy about their practices from the crypto community and regulators, some of which are already looking into the project’s legitimacy.

Via his Twitter (X) account, Adam Cochran wondered if the hype around WLD is organic or fabricated by a marketing strategy. Cochran wrote:

So either Worldcoin, or some group of Orb operators are legit paying plants to stand in line at orbs both for videos and to create demand for the orbs. Got pinged by an old marketing firm friend who does field event marketing, who was asking if Worldcoin is legit.

While WLD took over the global attention in the nascent sector, PEPE Coin is still the king of the top trending tokens in 2023. Research conducted by Marketplace Fairness indicates that the token has been trending across 23 of the 50 states in the U.S., including Florida, California, and Texas.

The cryptocurrency was launched a few months ago but has already garnered more interest than Cardano (ADA), XRP, Litecoin (LTC), Dogecoin, etc. Most of these tokens only trended in 2 of the 50 states in the U.S. in 2023.