- Sam Altman removed as CEO of OpenAI, impacting Worldcoin (WLD) value.
- WLD price drops 13.21%, RSI nears oversold territory signaling potential reversal.
- Mira Murati appointed interim CEO; Greg Brockman resigns from OpenAI board.
On November 17, the communities involved with cryptocurrency and artificial intelligence were stunned when OpenAI’s board declared that Sam Altman had been removed from the company. As the CEO and founder of OpenAI, Sam Altman played a key role and was also instrumental in creating Worldcoin
Worldcoin Drops as Altman Resigns
Due to the recent developments, the value of WLD has decreased. According to the latest figures from CoinMarketCap, WLD is currently trading at $1.85. This price reflects a significant drop of 13.21% over the past 24 hours, suggesting a strong trend of selling activity.
OpenAI provided its rationale for dismissing Altman. The company’s formal statement indicated that the board removed the ex-CEO due to his lack of transparency in their communications.
“Following a thorough evaluation by the board, it was determined that Mr. Altman did not maintain consistent transparency in his interactions with the board, thereby impeding its oversight capabilities. As a result, the board has lost trust in his leadership at OpenAI,” according to the announcement.
Regarding the pricing trends, the 4-hour chart for WLD/USD indicated that the digital currency had developed a downtrend in the market. Additionally, Coin Edition examined the Relative Strength Index (RSI).
WLD might rebound following the dump
At the time of this report, the Relative Strength Index (RSI) had decreased to 32.20. This figure for the RSI indicated the recent selling pressure on the Worldcoin token. Concurrently, the digital currency was nearing the oversold threshold of 30.00.
Should the Relative Strength Index (RSI) reach 30.00, there might be a potential for a trend reversal towards the upside. However, such a rebound may hinge on the intensity of purchasing momentum that WLD experiences. If buying activity intensifies and the RSI falls to approximately 25.00, WLD may return to a price point of $2.
Nonetheless, as depicted below, the charted Accumulation/Distribution (A/D) metric had declined to -6.19 million. This downward movement in the A/D metric signifies an increase in the force of sales, implying that the bullish vigor of WLD had diminished. Consequently, given the existing market dynamics, WLD could fall to a price of $1.65.
Similar to the RSI indicator, should WLD exhibit excessive weakness, a price reversal might occur. Moreover, should the reversal be coupled with increased buying pressure, it is possible for WLD to exceed the support level of $2.20.
Furthermore, the board of OpenAI announced that Mira Murati has taken over as the interim CEO, succeeding Altman. Murati previously served as the team’s Chief Technology Officer (CTO) under Altman’s leadership. These organizational changes also impacted Greg Brockman.
Formerly serving as the board chairman, Brockman was requested to resign. However, he disclosed via a post on X (previously known as Twitter) that he chose not to stay on the board and resigned. Currently, it is anticipated that the value of WLD will keep declining.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
