Can Worldcoin Hit $4 Amid Fluctuating Price Action?

Worldcoin price recently posted a dramatic price rise of 23%. It showed 79% rise over the last month.

The rise came after reports that A16Z and Bain Capital Crypto bought $135 million worth of WLD tokens at market prices. However, in the las 24 hours the coin lost over 9% and was trading at $1.41 at the time of writing.

Worldcoin Price Soars As A16Z and Bain Capital Acquire $135M WLD

World Foundation also raised $135 million of capital in a direct acquisition of WLD tokens by Bain Capital Crypto and Andreessen Horowitz (A16Z). The transaction was rare in the sense that both acquired tokens at market price without a discount.

Bitwise CIO Matt Hougan noted the unusual nature of this purchase and pointed out that these major investors bought WLD while Worldcoin price was down 90% from its highs over the past 14 months.

Both A16Z and Bain Capital Crypto are described as early backers and long-term holders of Worldcoin. This is because they supported the project from its initial stages. The funding round also included participation from other investors, including Selini Capital, Mirana Ventures, and Arctic Digital from a previously disclosed funding round.

The purchase was structured through World Assets, Ltd., a subsidiary of the World Foundation. This was done specifically to meet the increasing demand for Orb-verified World IDs and support the expansion of the World network throughout the United States and beyond. This direct token purchase approach provides immediate capital and also maintains market-based pricing.

Technical Analysis Points to $4 Worldcoin Price Target

Analyst Jonathan Carter has identified a bullish technical setup for Worldcoin price. The analyst noted WLD moving towards the upper resistance of an ascending triangle formation following a breakout above a downtrend channel in the daily chart. This technical formation is indicative of sustained upward motion in the event the major resistance levels are breached.

Carter’s analysis anticipates specific price levels that would be attained following a successful breakout from the triangle resistance. The anticipated levels are $1.75, followed by $2.50, $3.18, and lastly $4.05. The highest level is approximately a 150% move from the current levels of trading at around $1.60.

The forming rising triangle usually points to accumulation and consolidation buying pressure, and the breakout above the downtrend channel is initial confirmation that the bullish assumption holds true. WLD’s present range is trading between $1.26 and $1.63 within a 24-hour range and between $1.07 and $1.60 in a 7-day range.

The technical setup comes as Worldcoin price is significantly lower than its all-time high of $11.74 reached in March 2024. It is currently 86.7% lower than that high. Meanwhile, the recent price movement is showing very strong momentum with gains on various time scales.

World Network Reaches 26M Users With Growing Verification Demand

The World network achieved substantial user growth and now has over 26 million users participating in the platform. Of these users, more than 12.5 million have completed the verification process to obtain an Orb-verified World ID.

This might have also helped gains in the recent Worldcoin price, while raising the market confidence towards the asset.

This growth in verified users has created increasing demand for Orb-verified World IDs, which was cited as one of the primary reasons for the recent $135 million funding round. The verification process includes users visiting physical Orb devices that scan their iris to create a unique biometric identifier. This ensures that one person can only create one World ID.

The funding will specifically support the expansion of the World network throughout the United States and other regions. It can also address the growing demand for human verification services. The World Foundation plans to use these resources to deploy more Orb devices and expand access to verification services globally.

The user base growth comes as concerns about AI-generated content and bot activity across digital platforms continue to increase. World’s human verification system aims to address these issues by providing a way to distinguish real humans from artificial intelligence or automated accounts.

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