Latest WalletConnect Token (WCT) Price Analysis

Deep Dive

1. Post-Listing Profit-Taking (Bearish Impact)

Overview:
WCT surged 11% to $0.3649 on August 12 after Coinbase added it to its roadmap, but prices dropped -6.7% after trading went live on August 14. This aligns with a common “buy the rumor, sell the news” pattern.

What this means:
Initial excitement around exchange listings often triggers short-term buying, but prices frequently correct as traders exit positions. WCT’s 24h volume fell -9.18% to $33M, signaling reduced buying pressure post-listing.

What to watch:
Sustained trading volume above $40M could signal renewed demand, while a drop below $0.24 (August lows) may extend losses.

2. Token Supply Overhang (Mixed Impact)

Overview:
Only 186.2M WCT (18.62% of max supply) is circulating. Community speculation (e.g., CoinMarketCap posts) highlights risks of future unlocks inflating supply.

What this means:
With 81.38% of tokens still locked, holders may fear dilution from staking rewards, team allocations, or ecosystem incentives. This creates persistent sell-side pressure, exacerbated by WCT’s -39.38% decline over 365 days.

3. Technical Breakdown (Bearish Impact)

Overview:
WCT trades below critical levels:
- 7-day SMA: $0.255 (current price: $0.252)
- RSI-14: 36.57 (neutral but leaning bearish)
- MACD: Negative histogram (-0.00427) signals weakening momentum.

What this means:
The price struggles to reclaim $0.255, a level that previously acted as support. A break below $0.236 (swing low) could trigger algorithmic sell orders.

Conclusion

WCT’s dip reflects cooling hype after its Coinbase debut, lingering supply concerns, and deteriorating technicals. While its role in wallet-dApp connectivity offers long-term utility, short-term risks dominate.

Key watch: Can WCT hold above the 2024 low of $0.20? A breach could accelerate selling, while a rebound above $0.28 may signal accumulation. Monitor exchange inflows/outflows for supply-side clues.

Deep Dive

1. Coinbase Optimism Integration (Bullish Impact)

Overview:
Coinbase announced WCT support on Optimism on August 14, 2025, enabling trading if liquidity conditions were met. This followed its addition to Coinbase’s roadmap on August 12.

What this means:
Exchange listings typically increase liquidity, visibility, and investor confidence. Coinbase’s reputation as a top-tier platform likely triggered buying activity, especially given WCT’s prior volatility (-19% over 90 days). The Optimism integration also aligns with WalletConnect’s multi-chain strategy, enhancing utility.

What to look out for:
Post-listing trading volume trends and whether WCT maintains support above $0.25.

2. Technical Indicators Hint at Rebound (Mixed Impact)

Overview:
WCT’s 14-day RSI (32.26) neared oversold levels, while the MACD histogram (-0.005) showed bearish momentum slowing. Price ($0.255) remains below key SMAs (7-day: $0.2597, 30-day: $0.291), but Fibonacci retracement levels suggest resistance at $0.289 (38.2%).

What this means:
Traders may have interpreted oversold conditions as a buying opportunity, though weak volume ($36.3M, -7.68% YoY) signals cautious participation. Sustained bullish momentum would require a close above the 7-day SMA.

Key threshold:
A break above $0.289 could target $0.301 (23.6% Fib level).

3. Retail Speculation and Sentiment (Bullish Risk)

Overview:
Social media posts on CoinMarketCap highlighted bullish targets ($1+) and WCT’s role in WalletConnect’s ecosystem. Notably, WCT hit $1.35 in May 2025 before dropping 81%.

What this means:
Retail optimism around WCT’s “undervalued” status and staking utility may have fueled short-term buying. However, 81.38% of the max supply remains locked, posing long-term dilution risks if released without demand.

Conclusion

WCT’s 24h surge reflects Coinbase-driven liquidity, technical rebound signals, and speculative retail interest. While bullish in the short term, the token faces resistance near $0.29 and long-term supply pressures.

Key watch: Can WCT hold above its 7-day SMA ($0.2597) and capitalize on Optimism network adoption?