Worldcoin (WLD) Surges 60% Weekly Despite Crypto Carnage: More Upside Ahead?

Bears have been running the show across the crypto market lately, dragging down Bitcoin ($BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), Cardano (ADA), and a long list of others. Still, a handful of tokens are doing their best impression of a green candle, and Worldcoin ($WLD) is one of them.

What's coming next? A few hours ago, the token's price briefly punched above $0.55, hitting its highest point since January. It has since retraced to the current $0.48 (per CoinGecko), representing a 60% increase on the week. Its market capitalization has crossed $1.6 billion, making $WLD the 51st-largest cryptocurrency. $WLD Price, Source: CoinGecko

The main catalyst behind the rally appears to be whale activity. The X account BSCN revealed that $WLD transactions above $100,000 have reached their highest level this year, adding that growing accumulation, rising network activity, and an upcoming reduction in token emissions have also played a role.

X user Crypto Tony labeled $WLD as one of "the strongest" altcoins, expecting a pump to $0.63 if the price holds the key level at $0.45. Other popular analysts who chipped in include Altcoin Sherpa and Crypto Catalysts. The former envisioned a pump to $0.65 "if $BTC stays stable," while the latter noted the asset's impressive performance amid the recent crypto massacre and predicted a potential ascent to $2.

For his part, Arthur Hayes — co-founder of BitMEX and CIO of Maelstrom — set a future price target of $10. He later described the token as a "shitcoin" that is "going to moon" only because of its connection to the emerging AI sector. You may also like: Sam Altman-Backed Crypto Explodes 10% Today as Bitcoin Eyes $74K: Weekend Watch

Going south? It is worth noting that $WLD's solid price increase can also be followed by a pullback, given how quickly the upward move occurred. The Relative Strength Index (RSI) is the technical tool that flags this risk. Recently, it pushed past 70, meaning the asset has entered overbought territory and could be on the verge of a correction. The index runs from 0 to 100, and anything under 30 is generally treated as a bullish sign. $WLD RSI, Source: CryptoWaves

Not everyone is sold, though. X user Ryker described it as a "dead project" that only follows NEAR on the coat-tails of the AI trend. They don't expect much from $WLD, claiming the team behind it "doesn't do anything."