The WLD token, associated with Worldcoin and linked to Sam Altman, has experienced a significant price surge following a $135 million capital injection. This funding round was led by prominent venture firms Andreessen Horowitz (a16z) and Bain Capital Crypto, who purchased WLD tokens directly, underscoring strong institutional confidence in the project's future.
As of May 23, the WLD token reached an intraday high of $1.64, marking a three-month peak before slightly retracting to approximately $1.53. The price rally represents a roughly 25% increase within 24 hours and an 180% gain from recent lows.
Technical indicators, including the Awesome Oscillator, display positive momentum with consecutive green bars, suggesting the rally is backed by genuine market demand rather than mere speculation. Trading volumes surged by more than 150%, with spot and derivatives volumes climbing by 160% and 208% respectively, reaching billions of dollars. Open interest also grew by 48% to $427 million, reinforcing renewed investor confidence.
The capital injection will support the expansion of Worldcoin's iris-based identity network, World ID, which has progressively gained traction across the U.S. and Asia. Singapore leads adoption with over 100,000 users, while Japan and South Korea have each added over 10,000 users. The network's growth in Southeast Asian markets such as Thailand, Indonesia, Malaysia, and the Philippines further boosts the project's outlook.
WLD's price has broken above key resistance levels, turning them into support floors, with analysts targeting a potential extension towards $1.95 and beyond. A technical Cup and Handle pattern could see prices aiming for the $2.50 psychological resistance level, a 60% upside from current prices. If bullish momentum persists, prices might target the $2.20 to $2.50 range between June and July, and potentially reach the $3 Fibonacci retracement level.
However, caution is advised as the Relative Strength Index approaches overbought territory, indicating possible short-term corrections or sideways movements. Should price fall below the key 200-day exponential moving average support at around $1.479, it may test lower support near $0.97.