- WLD has surged by 7.83% over the past day.
- Market indicators suggested that increased whale accumulation was propping Worldcoin’s uptrend.
Over the last seven days, the value of Worldcoin (WLD) has noticeably surged. During this timeframe, the altcoin’s price climbed steeply from its lowest point at $1.8 to a peak of $2.8.
Currently, as I’m typing this, Worldcoin is being traded at approximately $2.637. This represents a significant rise of around 26.20% over the course of the past week when viewed on weekly charts.
Furthermore, this upward momentum continues in the daily charts, showing a 7.83% increase. During the same timeframe, the trading volume significantly jumped by approximately 146%, reaching a total of around $705.1 million.
The sudden increase in price recently leaves people wondering about its cause and if Worldcoin’s upward trend will continue.
What’s driving Worldcoin’s uptrend?
As reported by AMBCrypto’s examination, a significant rise in whale involvement appears to be fueling Worldcoin at present. According to IntoTheBlock’s statistics, this whale activity has skyrocketed an astonishing 593.3% within the last 24 hours.
The increase in the number of large transactions, which has grown from 15 to 104, could indicate either selling or accumulation by “whales”. This surge in activity might be a sign of one or both of these actions.
Given the surge in large holders’ net inflows, it suggests that “whales” are actively purchasing WLD.
Over the last day, the net flow of assets held by major investors has significantly increased from 603,680 to 6,160,000. This indicates a greater influx of capital into the asset rather than an outflow from the whales.
As whales start purchasing WLD, it seems they are optimistic about further growth and potential increases in the value of WLD.
Can WLD hold these gains?
Significantly, a rise in whale presence suggests optimistic feelings. Consequently, the current market situation seems favorable for WLD to see further increases on its price graphs.
As a researcher studying the cryptocurrency market, I’ve noticed an interesting development with Worldcoin’s Stochastic Oscillator (Stoch). Over the past day, it has performed a bullish crossover, which indicates that this altcoin is currently experiencing a significant surge in positive momentum.
Furthermore, for the last seven days, the disparity in Worldcoin’s price based on its DAA (Difficulty Adjustment Algorithm) has stayed favorable. This favorable divergence suggests that the underlying foundations of this altcoin are growing stronger, as there’s been an uptick in active users and a broader network adoption.
Presently, the MVRV Ratio for this altcoin stands at a negative -15, indicating that the token WLD might be underpriced. It seems that numerous holders are currently experiencing losses.
Historically, when the MVRV ratio is negative, it has provided an opportunity for investors to purchase assets at reduced prices, suggesting a good time to buy.
Generally speaking, prices usually bounce back when more buyers join the market, which increases demand and pushes prices upwards.
Realistic or not, here’s WLD market cap in BTC’s terms
To wrap it up, Worldcoin is receiving favorable opinions from both retail investors and large players. Given the optimistic market trends, this cryptocurrency appears poised for additional growth.
Should the current trajectory persist, Worldwide Ltd (WLD) might recover up to $3 and even aim for $3.2, levels where it has previously been turned down. Alternatively, if there’s a change in direction, WLD could experience a decline towards $2.3.
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2025-01-07 19:04