The cryptocurrency market is buzzing as Worldcoin (WLD) witnesses a dramatic price surge, following the announcement of the project’s treasury strategy. With a 100% increase in just six days, investors are wondering: how far is WLD from its all-time high (ATH)?
What Triggered Worldcoin’s Price Rally?
Worldcoin’s token price saw a massive uptick, climbing from range lows of $0.86 to over $1.52 in less than a week. On Monday, September 8th, Eightco Holdings Inc. announced a groundbreaking $250 million private placement, accompanied by a $20 million strategic investment from BitMmine. This marks the launch of the first-ever Worldcoin treasury strategy, aimed at leveraging blockchain-powered authentication and identification.
The announcement also named Dan Ives, Wedbush Securities’ Global Head of Technology Research, as Chairman of the Board of Directors for Eightco. Ives highlighted the integration of Worldcoin into the future of artificial intelligence (AI), branding it the “de facto standard for authentication and identification” in the AI-driven tech landscape.
Technical Indicators Show Bullish Momentum
As of writing, technical trends underline strong bullish sentiment for WLD. Monday alone saw a 30% rally. The current bullish market structure was confirmed as the token broke above its prior resistance at $0.965, hinting at sustained upward potential. Furthermore, the Chaikin Money Flow (CMF) indicator pointed to robust capital inflows, and the Money Flow Index (MFI) revealed no signs of the token being overbought.
Is the $11.74 ATH Achievable?
Despite its impressive rally, WLD remains significantly below its ATH of $11.74, set in March 2024. However, the breach of its higher timeframe range is a promising sign for a long-term upward trajectory. Much will depend on sustained market sentiment and broader adoption of Worldcoin’s technology-driven solutions.
Looking to Diversify Your Portfolio?
If you are considering jumping into crypto, understanding the fundamentals and keeping track of major announcements and technical indicators is key. For beginners and enthusiasts alike, the Ledger Nano X, a premium cold wallet, is an excellent tool to securely store your cryptocurrencies. Its advanced features ensure your investments stay safe from online vulnerabilities.
While Worldcoin’s technology and price momentum have captivated the market, keep in mind that investing in cryptocurrencies carries inherent risks. Make sure to consult a financial advisor and conduct thorough research before making decisions.
