Worldcoin Eyes $7.29 Peak as Price Rallies 11% Amid Growing Network Activity

Highlights:

• Worldcoin price rose 11% to $3.98, with trading volume up 53% to $2.43 billion.
• Active WLD addresses increased to 1.85k, with new addresses up 21.88% this week.
• Large investors hold 91% of WLD’s supply, with $1.05 billion weekly transactions.

The Worldcoin price has surged 11% in the last 24 hours to trade at $3.98 as of 7 a.m. on a 53% jump in trading volume to $2.43 billion. Recent on-chain data show that participants are increasingly engaging with the WLD token. Up to 1.85k addresses have interacted with WLD, constituting 401 new addresses and 1.16k active addresses.

New addresses have increased by 21.88%, active addresses by 22.47%, and zero-balance addresses by 23.48% in the last seven days, suggesting increasing participation in the network.

Worldcoin in the Middle of a 50% Run to Reach $5—Will This Help WLD Price Reach $10 in 2024?https://t.co/7XrUfaCeci

— John Morgan (@johnmorganFL) December 6, 2024

This surge in activity coincided with recent price breakouts, which indicate much interest in the token. The increase in zero-balance addresses would hint that some investors have profited since the strong price action exceeded expectations. These data reflect an increasingly active user base and network engagement.

The data show that 91% of the WLD supply is held by large investors, demonstrating significant institutional or high-net-worth interest. This indicates strong backing but also exposes the price to major investor actions.

Transaction activity has been robust: $1.05 billion in large transactions over $100K were processed over the last week. Regional data shows an evenly distributed global presence, where 55% of transactions have come from Western markets, while 45% are attributed to the East.

Worldcoin Statistics

• Worldcoin Price: $3.98
• Market Cap: $2.89 billion
• Trading Volume: $2.43 billion
• Circulating Supply: 738.6 million
• Total Supply: 10 billion

Wordcoin Price Breakout of the Consolidation Zone

This daily chart on the WLD/USD reveals the strong momentum of a bull rally. The price exploded from key support at $2.38, in which there was consolidation, to a recent high of $3.98. This move equals more than 100%, showing that strong buyers were interested. A pivot breakout above $2.42 marked the transformation from the sideways trend to the now aggressive upward direction.

This view is greatly supported by key indicators that show a strong but probably overextended bullish trend. The RSI currently reads 72.69, which means it is overbought. Although buying momentum remains well in place, the market might be getting close to exhaustion in the short term, which increases the chances of a pullback or sideways action.

Bullish Technicals Signal a Bearish Move

In addition, the MACD shows a clear and expanding gap between it and the signal lines. This reflects sustained upward pressure and growing market confidence. Finally, the significant spike in trading volume during the reversal confirms strong market participation and suggests that buyers drive the rally with conviction. The shorter-term moving averages, trending upwards, confirm the bullish momentum in the form of dynamic support.

A breakout above this level could be a strong catalyst for further gains, setting off another wave of buy orders and potentially pushing the price toward $0.025 or higher. It would signify further bullishness and may draw more players to ride the wave. However, in the case of exhaustion of the rally, failing to break above $0.022, it is possible that the price would start to correct toward key support at $0.016 or $0.012580.

A sustained breach below these supports could mean the beginning of a deeper correction, which might even reverse the trend. Since the market is overbought and has risen steeply in a parabolic way, traders should be careful, closely monitor these levels, and be prepared for high volatility, which is the norm after such rapid upward movements.