Worldcoin (WLD) has seen an impressive breakout in price, skyrocketing over 50% in the past week alone. The upheaval has been partly driven by broader market momentum, but mainly driven by the project’s aggressive global expansion, with more than 40 countries joining the network this month.
With positive sentiment from the general market and plans to expand to more countries, Worldcoin’s price momentum is likely to continue in the short term. Here’s why.
World Expansion Increases Demand For WLD
World, the digital identity project co-founded by OpenAI’s Sam Altman and powered by iris scanning technology, has expanded its reach with a launch in more than 40 countries — including joining recently entered Costa Rica, Poland and Austria in October January. This rapid expansion has drawn significant attention to the WLD Token, pushing its price up significantly.
The value of Worldcoin has skyrocketed 27% in the past 24 hours. Currently, WLD trades at $2.73, a price last reached in July. The altcoin boom in recent weeks has been supported by significant demand, evidenced by indicators positive number from its daily active address (DAA) difference metric. At the time of reporting, the value of this index reached 137.92%.
An asset’s DAA spread compares its price movement to changes in the number of daily active addresses. It monitors whether there is corresponding network activity supporting the price movement of that asset.
When the index is positive during a price rise, it is a bullish signal, pointing to fundamental strength and the potential for greater price upside. It suggests that increased network activity supports the coin’s growth, as strong participation often precedes price increases. As more people get involved, demand for the asset increases, pushing prices higher.
Furthermore, market sentiment towards WLD is currently very optimistic. Data from Santiment shows its weighted sentiment index is at 0.64 at the moment.
An asset’s weighted sentiment index tracks the overall market mood towards it. When above zero, social media discussions were largely driven by positive sentiment, indicating that market participants anticipated more price increases.
WLD price prediction:
As of this writing, WLD trades at $2.73, just above the $2.44 resistance level. Chaikin Money Flow (CMF) is rising, currently reaching 0.22, confirming high demand for this altcoin. CMF measures the cash flow in and out of an asset. When above zero, it signals market strength and high liquid cash flows.
If buying pressure holds, the $2.44 resistance level could become support, preparing WLD to target $3.61. A successful breach of this level could accelerate Worldcoin’s rally to a six-month high of $5.40.
On the contrary, if buying pressure decreases and optimism turns to pessimism, this forecast will be invalidated. In that case, WLD could lose recent gains, fall below the $2.44 resistance level, and try to stabilize at $1.34.