Worldcoin (CRYPTO:WLD) has undergone a sharp decline of over 63% in the past month, dropping below the critical $2 mark.

This downturn has put approximately 530 million WLD tokens, valued at more than $960 million, at risk of becoming unprofitable for investors.

Despite these losses, there are optimistic signs from on-chain indicators like the Market Value to Realized Value (MVRV) ratio, which suggests a potential for recovery and investor accumulation.

Currently standing at -37%, the MVRV ratio historically indicates an opportunity zone for buying pressure and potential price rebounds.

Investors are closely monitoring whether WLD can reclaim the $2 support level, which could lead to a bullish trend aiming for $3.

However, failure to maintain support at $1.76 may result in further downside, potentially testing lows around $1.50, thereby challenging the bullish thesis for Worldcoin's price recovery.