Key Points
- WLD is approaching $0.50 after gaining 3.7% in the last 24 hours.
- The rally follows a Multicoin Capital–linked wallet spending $30 million USDC to buy 60 million WLD tokens on Thursday.
Multicoin Capital–Linked Wallet Buys 60 Million WLD Tokens
WLD, the native token of the Worldcoin ecosystem, ranks among the top 100 cryptocurrencies by market capitalization. The token climbed nearly 4% in the last 24 hours and is now trading near $0.50.
The uptick follows data from Lookonchain on Thursday revealing that a wallet linked to Multicoin Capital — a thesis-driven investment firm — spent 30 million USDC to acquire 60 million Worldcoin tokens at an average price of $0.50 through an over-the-counter (OTC) trade.
This purchase highlights strong institutional demand for the asset. Santiment data also showed trading volume for WLD reached $1.46 billion on Wednesday, the highest daily volume not seen since July 2024.
Rising volume suggests growing interest and liquidity among traders in Worldcoin, supporting a bullish outlook. Santiment’s supply distribution data further indicate that several large holders have been buying WLD during recent price dips.
Whales holding between 10 million and 100 million WLD and those holding between 1 million and 10 million WLD accumulated a combined 150.59 million WLD from Sunday through Thursday.
WLD Faces Resistance at $0.58 Amid Bullish Sentiment
The WLD/USDT 4-hour chart remains technically weak and inefficient despite WLD’s roughly 4% gain over the past day. At the time of writing, the token trades around $0.498 and could move higher in the short term.
If bullish momentum continues, WLD may extend its rally toward daily resistance at $0.56. A decisive close above that level could push the token toward the 50-day Exponential Moving Average (EMA) at $0.63.
The 4-hour Relative Strength Index (RSI) sits at 49 and is tilting upward toward the neutral 50 mark, signaling increasing bullish momentum. For the rally to sustain, the RSI needs to move above the neutral level.
Conversely, if bulls fail to capitalize on current momentum, WLD could correct lower toward the recent low near $0.47.