A cryptocurrency venture founded by Sam Altman, Worldcoin’s native token, WLD, has experienced a remarkable surge of over 44.38% in the last 24 hours, reaching $7.95, and currently trending at $7.40, according to data from CoinMarketCap.

The impressive weekly increase of 217.39% is attributed to the success of Worldcoin’s wallet, World App, which has surpassed one million users.

This surge is further supported by notable whale transactions, including a significant accumulation of 2.09 million WLD valued at $5.82 million. Additionally, Alameda Research holds a substantial 25 million WLD, contributing to the overall market enthusiasm.

The price movement of WLD has displayed notable volatility, initially trading in a closed range of $2.144 to $2.670 for 26 days, indicating weak buying and selling pressure. 

Subsequently, a 22.58% jump followed by a neutral trend paved the way for a substantial 103.485% increase in the next three days. Presently, WLD is trading between $7.3154 and $7.9585, nearing a resistance level of $8.

This surge is fueled by broader market enthusiasm, with the Moving Average Convergence Divergence (MACD) indicating a strong bullish influence. If the price maintains above the support level of $7.3419, bullish momentum is expected to test the resistance level of $7.9585, potentially reaching $8 in the upcoming week.

Conversely, a trend reversal could lead to a test of the lower support level of $5.492, with further downside potential if bears gain control, testing the crucial support level of $4.838.

The surge is also associated with OpenAI’s Sora launch, showcasing investor interest in the intersection of AI and crypto. Worldcoin’s adoption milestones, whale accumulations, and overall positive market sentiment contribute to the current bullish trend.

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