In 2024, a lot of new initiatives have been launched, and Wormhole is only one of them. Despite the project’s lengthy development history, it has lately been able to cultivate a devoted community and compensate its early adopters.
What is Wormhole?
The goal of the Wormhole project is to power multichain apps. In addition to this functionality, the project allows users of over 20 blockchains to trade DeFi, own NFTs with the network, and participate in governance. It also provides liquidity to developers.
Large companies like Uniswap and stablecoin issuer Circle have faith in Wormhole since the infrastructure has enabled billion-dollar cross-chain transactions.
W Current Market Status
As of this writing, Wormhole was available for $0.97, a 29.75% drop from the project’s debut price. The reduction in price could be related to profit-taking by W airdrop qualified receivers.
The cryptocurrency’s trading volume decreased along with its price. W’s 24-hour trading has dropped by 58% to $720.56 million at the time of writing. In contrast, the market capitalization of $1.75 billion placed it 64th on CoinMarketCap.
Data on the supply indicated that there is a maximum and total of 10 billion tokens available. But there were only 1.80 billion in use. W may be found on several exchanges, including as Bybit, Gate.io, OKX, and Binance. The token is available on exchanges other than these four as well.
Wormhole (W) Price Analysis
Predicting W might be difficult given it was just released a few days ago. That does not negate the ability of technical indicators to recognise certain trends the token may exhibit, though. As a result, the short-term price movement of W will be thoroughly examined in this section. You will also discover the pricing projections for the years 2024 through 2030.
Wormhole (W) Price Analysis- Bollinger Bands
The W/USD 1-hour timeframe’s Bollinger Bands (BB) indicated that the token’s surrounding volatility has begun to rise. The band had previously gotten smaller. The recent growth, nevertheless, indicated that W could have to contend with considerable price fluctuations in the days ahead.
Bullishly, we may see W’s price rise to $1.23. Conversely, a pessimistic prediction values the price at $0.91.
Wormhole (W) Price Analysis- Relative Strength Index (RSI)
The Relative Strength Index (RSI) value dropped below 30.00 on April 4, indicating that W was oversold. But when the RSI reading rose at press time, it appeared that bulls had saved the coin.
Since the momentum was still below the neutral zone, it was not quite bullish. Bulls may fully seize control of the trend and W’s price may rise if purchasing pressure builds.
Wormhole (W) Price Analysis- Moving Average Convergence Divergence
The Moving Average Convergence Divergence (MACD) was positive on the 30-minute chart. W had not yet escaped the grasp of bears, though, as the long and short EMAs were both below the zero midway.
The MACD indicated that W has the capacity to bounce despite the indicators. The bullish bias may be confirmed if the EMAs rise towards the positive zone. If not, there might be a prolonged period of negative momentum.
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Wormhole (W) Price Prediction 2024
W had established a falling channel, signalling strong selling pressure, based on the 1-hour chart. But sellers may quickly experience fatigue and lose their impetus.
W may breakout and produce a bullish flag if this occurs. In the short term, the price of the token can rise towards $1.80 if this is the case and purchasing pressure grows.
A check of the Awesome Oscillator (AO) revealed a negative result. Green bars on the indicator, however, indicated that a rebound may be imminent. W’s price is predicted to grow in 2024, possibly reaching $3.85 by the end of the year after rising from the lows.
Wormhole (W) Price Prediction- Resistance and Support Levels
W tried to reach $1.60 on April 3 but was rejected. That caused the price to drop as low as $0.95. Bulls, however, thought this was a great place to establish support. Even if the move hasn’t produced much of an impact, it’s doubtful that W will go below $0.90.
If the price moves higher, the token may encounter resistance at $1.24. Should the barrier be successfully crossed, the price may rise to $1.80. However, that would rely on the $1.59 resistance. Should W fail to overcome the above barrier, it might drop back below $1.
Wormhole (W) Price Prediction 2025
Wormhole is anticipated to rank among the top 50 projects by 2025. In such a scenario, the token’s price is likely to rise and reach $4.50.
Wormhole (W) Price Prediction 2026
Since its Testnet days, Wormhole has boasted a devoted user base. Currently, it doesn’t appear like the community would abandon the project. If this is the case, W may see a spike in adoption in 2025, which might lead to a price projection of $6.45 for the product by 2026.
Wormhole (W) Price Prediction 2027
The price of W may decelerate from its upward trajectory by 2027. That does, however, imply that it would drop below the 2024 figure. As a result, $2.80 may be the price projection for 2027.
Wormhole (W) Price Prediction 2028
It is predicted that 2028 would be a positive year for the whole cryptocurrency ecosystem. The value of tokens like W may thus rise. Thus, in 2028, the price might reach $8.
Wormhole (W) Price Prediction 2029
The number of blockchains Wormhole talks with may have increased by 2029. As a result, more addresses may be purchasing W. As a result, $10.50 is the price estimate.
Wormhole (W) Price Prediction 2030
The number of blockchains Wormhole talks with may have increased by 2029. As a result, more addresses may be purchasing W. As a result, $10.50 is the price estimate.
Wormhole (W) Price Prediction 2040
By 2040, the price of W is anticipated to stay in the double-digit range. The value is predicted to reach $14.39 even if there may be a correction before the year.
| Minimum Price | Average Price | Maximum Price |
| $9.36 | $12.04 | $14.39 |
Wormhole (W) Price Prediction 2050
By 2050, cryptocurrency ought to have been widely accepted worldwide. As a result, W’s price might be as high as $18.74.
| Minimum Price | Average Price | Maximum Price |
| $13.38 | $14.25 | $18.74 |
Conclusion
W appears to be a project that would garner a lot of people despite its recent setback, to sum up. The token is still in the price discovery phase, as was previously indicated. Buyers and sellers will determine the specific trend for the token once the selling pressure has subsided. W’s price may rise over time, but in order to profit from it, you must locate a strong entry.
Frequently Asked Questions (FAQ) – Wormhole (W)
Wormhole (W) is a blockchain project designed to enable multichain applications and facilitate cross-chain transactions. It provides developers with access to liquidity and allows users from over 20 blockchains to participate in governance, DeFi trading, and NFT ownership within the network.
As of the latest data, Wormhole (W) is priced at $0.97, with a market cap of $1.75 billion, ranking 64th on CoinMarketCap. The 24-hour trading volume for W is $720.56 million, and it has a total supply of 10 billion tokens, with 1.80 billion tokens currently in circulation.
By the end of 2024, price predictions for Wormhole (W) range from a recovery to $3.85, as indicated by technical analysis and market trends.
To profit from investing in Wormhole (W), consider identifying optimal entry points based on technical indicators and market sentiment. Additionally, stay informed about project developments and industry trends.
As with any investment, it’s essential to conduct thorough research and consider your risk tolerance. Wormhole (W) shows potential for growth based on technical analysis and market predictions, but investors should exercise caution and diligence.
