Worldcoin (WLD) has experienced a significant surge, reaching its highest point in three weeks at $6.5. The trading volume of WLD has also seen a sharp increase of 117% over the past 24 hours.
The native token of the Worldcoin project, led by Sam Altman, has demonstrated an impressive rally, rising by over 21% from its lowest point of $5.35 to a peak of $6.50.
The bullish trend for WLD is evident in the daily price chart, which shows the current price action above the 100-day simple moving average (100SMA) at $6.150. This indicates an upward trend for the altcoin.
At the time of writing, WLD is being traded at $6.32 with a 24-hour trading volume of $584 million. CoinMarketCap data reveals that there are currently 203 million WLD tokens in circulation, ranking it 68th with a market cap of $1.28 billion.
Analyzing the daily RSI on the chart, it can be seen that the indicator is moving away from the neutral zone and approaching the overbought territory. Additionally, the CMF (Chaikin Money Flow) has crossed the 0 line, indicating an increased flow of money into the asset. This is further supported by the bullish trading volume.
If WLD continues on its upward trajectory, it has the potential to reach $7.494. However, if the altcoin falls under the control of the bears, it may drop to a low of $4.239.
It is worth noting that the Worldcoin Foundation has announced plans to increase the token supply by 19% over the next six months. The foundation has also revealed that it will launch Worldchain, its native L2 blockchain built on OP stack, in late summer. These updates have generated excitement within the community and increased confidence in the AI-infused project.