Not long after Worldcoin (WLD), a digital ID project co-founded by ChatGPT pioneer Sam Altman made a new all-time high (ATH) at $7.46, the popular artificial intelligence (AI) token is demonstrating signs of furthering its bullish streak, perhaps even racing by 250%.
Indeed, Worldcoin has recently broken out of an ascending parallel channel on its daily chart in what looks to be a preparation for a potential upward movement that could see it rise further, as cryptocurrency analyst Ali Martinez observed in an X post on February 19.
Specifically, the crypto trading expert has explained that Worldcoin could skyrocket “to $15 and possibly even extend to $26,” which would represent a gain of a whopping 250% for the latter case, provided that this breakout holds, in line with WLD’s chart patterns since August 2023.
Worldcoin price action analysis. Source: Ali Martinez
Notably, the recent price spike for Worldcoin coincides with OpenAI announcing a new text-to-video AI model called Sora that some have referred to as the Hollywood Killer thanks to its 60-second-long videos that a regular viewer can hardly tell from real-life video content.
Introducing Sora, our text-to-video model.Sora can create videos of up to 60 seconds featuring highly detailed scenes, complex camera motion, and multiple characters with vibrant emotions. https://t.co/7j2JN27M3WPrompt: “Beautiful, snowy… pic.twitter.com/ruTEWn87vf
— OpenAI (@OpenAI) February 15, 2024Worldcoin’s origins
As a reminder, the OpenAI CEO had earlier co-founded Worldcoin through the company Tools for Humanity and then launched its token back in July 2023, upon which the crypto asset soared 60% almost instantly, thanks to the explosive demand and renewed, massive interest in generative AI.
However, not everyone was on board with Worldcoin from the start. Notably, it has faced criticism in Silicon Valley over its unusual approach to solving online identity authentication, which involves physical orbs scanning users’ irises, with some calling it an “evil creation” with a “high probability of failure.”
That said, criticism has not prevented people from getting their eyes scanned every eight seconds and surpassing 4 million downloads of its World App in November. In December, WLD saw a surge in whale transactions, which Martinez noted could indicate preparations for a massive price movement.
Worldcoin price analysis
At press time, Worldcoin’s token was trading at the price of $7.45, recording an advance of an outstanding 42.82% in the last 24 hours, in addition to gaining an even more impressive 196.58% over the previous seven days and accumulating a monthly increase of 190.1%.
Worldcoin 30-day price chart. Source: CoinMarketCap
All things considered, the recent extraordinary spike in WLD’s price could suggest a renewed interest in its company’s technology, as well as optimism in the future performance of its crypto asset. That said, it is important to carry out one’s own research and weigh the risks before investing.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
