In the last 24 hours, Worldcoin (WLD) has experienced a significant surge, rising by 20% to reach $6.50, marking its highest point in three weeks. The trading volume of WLD has also seen a notable increase, spiking by 117%.
This surge comes as WLD, the native token of the project led by Sam Altman called Worldcoin, stages an impressive rally. Within the past day, the altcoin has surged by over 21%, moving from an intra-day low of $5.35 to its peak at $6.50.
Bullish Trends Emerge for Worldcoin (WLD)
Worldcoin (WLD) is showing several bullish signals as indicated by recent market movements. The daily price chart depicts the current price action above the 100-day simple moving average (100SMA), which stands at $6.150, highlighting an upward trend for the altcoin.
At the time of writing, WLD is trading at $6.32, with a significant 24-hour trading volume of $584 million. According to CoinMarketCap data, the total supply of 203 million WLD tokens currently in circulation ranks 68th, with a market cap of $1.28 billion.
Worldcoin (WLD) 1D Price Chart (Source: TradingView)
Analyzing the daily Relative Strength Index (RSI), it shows a movement away from the neutral zone and is edging closer to the overbought territory. On the other hand, the Chaikin Money Flow (CMF) has surpassed the 0 line, indicating increased money flow into the asset. This bullish indication is further supported by the rising trading volume.
Worldcoin’s Potential Price Targets and Future Developments
If Worldcoin (WLD) continues its upward momentum, it could potentially reach a target of $7.494. Conversely, if the altcoin succumbs to bearish pressure, it may decline to a bottom of $4.239.
The Worldcoin Foundation has announced plans to increase the token supply by 19% over the next 6 months. Additionally, it revealed the anticipated launch of Worldchain, its native L2 blockchain built on the OP stack, expected in late Summer. These developments in the pipeline have encouraged the community to show confidence in the AI-infused project, prompting positive sentiment among investors.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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