Over the past 24 hours, Worldcoin (WLD) has seen a significant increase in value, rising by 20% to hit $6.50, which is its highest price in three weeks. Trading volume for WLD has also spiked by 117%.

The surge in WLD price comes as the token, associated with the project led by Sam Altman known as Worldcoin, displays a strong rally. Within a day, WLD has risen by more than 21%, moving from a low of $5.35 to reach $6.50.

Positive Trends for Worldcoin (WLD)

Worldcoin (WLD) is displaying several positive signs based on recent market movements. The daily price chart shows the current price above the 100-day simple moving average (100SMA) of $6.150, indicating an upward trend for the altcoin.

Currently, WLD is trading at $6.32 with a significant 24-hour trading volume of $584 million. With a total supply of 203 million WLD tokens in circulation and a market cap of $1.28 billion, it ranks 68th according to CoinMarketCap.

Analyzing the Data

Looking at the daily Relative Strength Index (RSI), it is moving away from the neutral zone towards the overbought territory. The Chaikin Money Flow (CMF) has crossed above the 0 line, suggesting increased money flowing into the asset. These positive indicators are supported by the rising trading volume.

Future Outlook for Worldcoin and Key Developments

If Worldcoin (WLD) continues on its upward trajectory, it could potentially aim for a target price of $7.494. In case of bearish pressure, the altcoin might drop to $4.239.

The Worldcoin Foundation has announced plans to increase the token supply by 19% in the next 6 months and launch Worldchain, its native L2 blockchain on the OP stack, in late Summer. These upcoming developments have inspired confidence in the AI-driven project, leading to positive investor sentiment.

Disclaimer: This article serves as information only and should not be considered as legal, tax, investment, financial, or any other form of advice.