Worldcoin (WLD) has experienced a remarkable surge, reaching its highest point in three weeks at $6.5. In the past 24 hours, the trading volume of WLD has spiked by 117%.
The native token of Sam Altman-led project Worldcoin, WLD, has shown an impressive rally, increasing by over 21% from its lowest point of $5.35 to a high of $6.50.
WLD seems to have received favorable signals, as the current price action has moved above the 100-day simple moving average (100SMA) of $6.150. This indicates an upward trend for the altcoin.
At the time of writing, WLD is being traded at $6.32, with a trading volume of $584 million in the past 24 hours. According to CoinMarketCap data, there are currently 203 million WLD tokens in circulation, ranking 68th with a market cap of $1.28 billion.
Analyzing the daily RSI, it can be observed that it has moved away from the neutral zone and is approaching the overbought territory. Additionally, the CMF (Chaikin Money Flow) has surpassed the 0 line, indicating increased money flow into the asset. This is further supported by the bullish trading volume.
If WLD continues on its upward trajectory, it may potentially reach $7.494. However, if the altcoin falls under the control of the bears, it may drop to a bottom of $4.239.
It is worth noting that the Worldcoin Foundation has announced plans to increase the token supply by 19% in the next 6 months. Furthermore, they have revealed the upcoming launch of Worldchain, their native L2 blockchain built on OP stack, in late Summer. These updates have encouraged the community to have faith in this AI-infused project.
