WorldCoin Price Soars 12% Following the Launch of the World ID Passport – Will It Maintain the Rally?

Highlights:

• The price of Worldcoin has soared as the noticeable positive impact on WLD caused a 12% increase to 2.90 at press time. 
• The recent uptick comes following Worldcoin’s World ID passport system launch in various countries.
• The rising volume also supports Worldcoin’s bullish momentum, which could see the price hit $5 soon. 

Worldcoin price has outperformed other cryptos after breaking out of a consolidation phase. The hype surrounding the privacy-preserving global identity network has had a noticeable positive impact on WLD, surging by 12% to 2.90 at press time. 

While the pioneering crypto like Bitcoin (BTC) saw a slight surge of 1% to $96,684 at the time of writing, Worldcoin steadied the uptrend. The growing interest in the token has seen the trading volume spike by more than 135% to $1.43 billion, while the market cap is up 12% to $2.05 billion. 

What Is Behind Worldcoin Price Uptick?

The recent uptick comes following the launch of Worldcoin’s World ID passport system. The system is now piloted in Chile, Colombia, Malaysia, and South Korea, offering 51.69 WLD tokens for verified users. This new, highly secure, anonymous World ID feature significantly increases global access to the World Network and paves the way for increased World ID utility.

The new World ID Passport Credential is here, with access to additional WLD tokens.https://t.co/aD8utAGAQs

— World (@worldcoin) November 28, 2024

With the increasing trading volume, the Worldcoin price could hit $5 in the short term. Meanwhile, crypto analysts predict that the WLD price may hit double-digit gains before 2024 draws the curtains.

$WLD is on a roll! 🚀 Up 48% already.$TAO is leading the AI charge, and I'm hopeful $WLD will follow suit.

Double-digit gains for @worldcoin this year? I think so! 👀 https://t.co/jUCFxTHgRs pic.twitter.com/6IAwgv16sx

— Bitcoin Buddha (@Bitcoin_Buddah) November 29, 2024

WLD Statistical Data

Based on CoinmarketCap data:

• WLD price now – $2.89
• Trading volume (24h) – $1.43 billion
• Market cap – $2.05 billion
• Total supply – 10 billion
• Circulating supply – 708.60 million
• WLD ranking – #59

Worldcoin’s price has jumped 12% to $2.90 at press time, fueled by alt-season capital inflows and bullish technical patterns. Previously, it had been trading sideways, oscillating between the lower support at $1.34 and upper resistance at $2.52. However, as bullish momentum builds, the token has broken out, soaring 21% to trade at $2.90. The 50-day MA at $2.20 and the 200-day MA at $2.45 provide dynamic support enabling the bulls to stay in control. 

The Worldcoin price is trading with a bullish bias, standing nearly 110% above its range low of $1.34. The odds continue to favor the upside, supported by multiple technical indicators. The Relative Strength Index (RSI) is above the mean level of 50, showing rising momentum. Its position at 65.58 shows more room to the north before WLD can be considered overbought.

Worldcoin Price Outlook: How High Can WLD Reach?

On the other hand, the Moving Average Convergence Divergence (MACD) is also in positive territory, still holding above the signal line. This indicates buyer momentum still exceeds selling pressure. Traders and investors are inclined to buy more WLD tokens unless the MACD changes. If the $2.45 support level holds, bulls may build momentum, triggering a rally toward the $5 mark in the near term. 

Conversely, if the bears enter the market at this level and the $2.45 support level gives way, the Worldcoin price could fall. Nevertheless, the bullish sentiment for the WLD price would only be invalidated below the $2.20 support.