Worldcoin Rebrands to World, WLD Token Sees Significant Rally

Worldcoin, now rebranded as World, has seen its native token WLD experience a substantial rally in the past 24 hours. The token’s price surged over 19% to reach a 5-month high of $3.03 on November 29, before settling at $2.88. Additionally, the asset’s market capitalization surpassed $2 billion, with its daily trading volume increasing by 122%.

World ID Passport Credential Pilot Launch Drives Rally

The rally is attributed to the launch of the World ID Passport Credential pilot in multiple countries, including Chile, Colombia, Malaysia, and South Korea. This feature, currently available only on iOS devices, enables individuals in these countries to link NFC-enabled passports to their World ID, allowing them to claim WLD tokens without the need for a traditional in-person iris scan via the Orb.

Following the announcement, open interest in the WLD futures market increased by 21.8% to $418.31 million, reflecting growing demand among traders and fueling the recent rally.

Analysts Speculate on WLD’s Potential for Further Gains

The announcement has sparked bullish speculation among analysts, with some pointing to $12 as the next potential target for the token. Analysts have also identified several bullish technical patterns that support the idea of an extended rally.

Double digits coming to a chart near you

CryptoBull_360, a pseudo-anonymous analyst, highlighted an ascending triangle pattern on the 4-hour price chart, which is considered a bullish reversal signal in technical analysis. A breakout above the $2.8–$3 resistance zone could result in gains exceeding 50% in the short term.

Another bullish case for WLD was presented by fellow trader Han Ji Ahn, who highlighted a multi-month cup-and-handle pattern that could position WLD for a run-up to the $12 mark and possibly $20 in the coming months.

Trend Strength Remains Strong

The WLD/USDT 24-hour chart reveals the token trading above the upper Bollinger Band, a sign of steady and strong buying activity. With the Relative Strength Index at 65 and an Average Directional Index of 27, the bullish momentum appears to have plenty of room to grow.

Altcoins Gain Attention as Bitcoin Faces Resistance

As Bitcoin continues to face resistance at the key $100,000 level, altcoins like WLD are expected to benefit as investor focus shifts toward alternative cryptocurrencies.

Investors should keep a close eye on WLD’s price movements and technical patterns as the token continues to gain momentum. For more information on the cryptocurrency market and up-to-date news, visit Global Crypto News.

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