Worldcoin Emerges as Top Gainer, Reaches New All-Time High
Worldcoin, a cryptocurrency initiative led by OpenAI CEO Sam Altman, has become the highest weekly gainer among the top 100 tokens by market cap. The coin’s price has experienced an aggressive rally, reaching a new all-time high in today’s market. This surge in price is a result of the overall positive sentiment in the AI sector and Nvidia’s impressive earnings results, which have further boosted momentum.
Supply Pressure at $9 Indicates Possible Correction
AI-related crypto tokens have been outperforming the broader market over the past week, despite Bitcoin’s sluggish movement. Worldcoin (WLD) has seen a 140% surge in just one week, while SingularityNET (AGIX) has jumped 148%. Fetch.ai (FET) and Graph (GRT) have also experienced significant increases of 66% and 50%, respectively.
On February 16th, OpenAI introduced its text-to-video generator Sora, which sparked renewed interest in artificial intelligence in the market. This led to a surge in AI-related coins. Additionally, Nvidia exceeded expectations for its fourth-quarter earnings and provided strong guidance for the first quarter, further building momentum since its release.
Currently, the WLD price is trading at $8.83 with a 2.5% gain. Over the past two weeks, Worldcoin’s price has surged over 200%, reaching a $1 billion market cap according to crypto analytics firm IntoTheBlock.
Its Fully Diluted Valuation (FDV) now stands at $81 billion, surpassing OpenAI’s valuation. This significant growth highlights the increasing investor interest in Worldcoin and its potential in the digital asset market.
Is the Worldcoin Price Heading Towards $10?
While the Worldcoin price rally, supported by increasing volume, suggests a bullish outlook, it is unlikely to continue at its current pace without additional news catalysts. If a correction phase is imminent, traders may find support levels at $7.5 and $6.5.
- Bollinger Band: The coin price challenging the upper boundary of the Bollinger Band indicator indicates aggressive buying momentum.
- Average Directional Index: The ADX slope at 55% reflects bullish momentum that may soon experience exhaustion.
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