Whale Investors Propel Worldcoin (WLD) Towards Price Recovery

2024-06-19, 07:19

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![](https://gimg2.gateimg.com/image/article/17187809861690791857hotspot.jpeg)
## [TL; DR]
One reason the WLD maintains a bullish momentum for long periods is its high demand on a global scale.

Whales and retail investors’ buying activity are necessary for the future WLD price rise.

The WLD price may reach $11 by the end of 2024 if the investors sustain the buying pressure.

## Introduction 
WorldCoin has been trending for the past one to two years since it offers a unique product. Already,it is listed on various major cryptocurrency exchanges as it shows much potential. However, its adoption has been hampered by the restrictions that several governments have placed on it.

[WorldCoin](https://www.gate.io/how-to-buy/worldcoin-wdc "WorldCoin") claims that its project is universally accepted and can bring much utility to the blockchain sector. While the project was launched on <a href="/id/price/optimism-op" target="_blank" class="blog_inner_link">Optimism</a>, a layer 2 scaling solution for <a href="/id/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a>, in 2019, WLD was introduced on the market in July 2023.This analysis looks at WLD’s current development and price movement.

## The Bullish Surge: How Whale Activity is Boosting WLD's Market Position
The WorldCoin native cryptocurrency, WLD, maintained bullishness for a long period. Looking at its price analysis, WLD is a coin that keeps a strong positive momentum for several months in a row. However, it also faces a bearish outlook from time to time.

At the moment, the cryptocurrency is indicating a short-term bearish cue which is in line with the situation within the entire crypto market. However, during the first week of June WLD was very bullish due to the activity of crypto whales. The WLD whales, who are an important crypto cohort, were responsible for its strong price action. For example, during the first two weeks of June the WLD whale accumulation enabled the altcoin to recover from its previous unrealized losses.

During that period the WLD price was slightly above $5 with much momentum as it tried to break its close key resistance levels. The reason for its bullishness was the sustained whale accumulation, which has always been one of the major factors for the coin’s uptick. For instance, during the cited period the WLD whales, with a holding between 100,000 and 1 million, acquired more than 6 million WLD. That supply, worth over $30 million at that time, shows that the wallet holders are optimistic about the WLD price action. The following graph shows changes in WLD whale holding.
![](https://gimg2.gateimg.com/image/article/17187811591.jpg)
Worldcoin Whale Holding - Santiment

As <a href="/id/price/the-graph-grt" target="_blank" class="blog_inner_link">The Graph</a> indicates, the amount of [WLD the whale investors are accumulating](https://www.gate.io/how-to-buy/worldcoin-wdc "WLD the whale investors are accumulating") is gradually increasing showing their appetite to hodl more of the asset. The whales’ aim is to benefit when the crypto’s price increases in the future. Considering that the whales are accumulating the coin, the chance of selling their holdings at the present time is low.

According to [IntoTheBlock](https://app.intotheblock.com/ "IntoTheBlock"), only around 6% of the addresses are in profit. Thus, most of the WLD hodlers are in the process of profit booking which shows a great possibility for its price to rise further in the near future. The sustained accumulation and minimal selling are an essential catalyst for a rally.

Read also: [WorldCoin and NVidia Reach Record Highs Due to AI Hype](https://www.gate.io/blog_detail/3870/worldcoin-and-nvidia-reach-record-highs-due-to-ai-hype "WorldCoin and NVidia Reach Record Highs Due to AI Hype")

## Breaking Barriers: Worldcoin's Pursuit of Key Resistance Levels
As of 7 May WLD showed a potential to break above several key resistance levels. Even if that prospect has been delayed sooner or later the coin is poised for a strong rally. At that time the daily chart showed that WLD was targeting $8.85, a key resistance level. Nonetheless, the four-hour chart indicated that the coin was heading towards $6.39. It is important to realize that WLD’s breakdown of the $4.59 price level may signify the invalidation of the bullish path.

On the daily time frame WLD formed a double bottom which is a strong bullish signal. The first bottom was completed on 7 April while the second was confirmed on 27 May. This indicates that we should see a price surge after a break above the double bottom neckline. After the breakout the coin may spike by at least 35% pushing its price beyond $8.84. However, the cryptocurrency might have a premature slowdown at around $7.82. The following diagram illustrates this point. 
![](https://gimg2.gateimg.com/image/article/17187812782.jpg)
WLD Bullish Path: FXstreet

As you note, the diagram illustrates the most probable scenario. However, the opposite might occur if its price falls below the $4.59 support level. If that happens it might signal the onset of a bearish period. As a result, the price may experience several other price lows which may force it to fall below the $4.20 support floor.

## Retail Investors Rally: A United Front in Worldcoin's Market Dynamics
As discussed above, what is essential to initiate a stronger WLD price recovery is unity among the whales and other retail investors to add more funds in the coin.

In the meantime, [Coinpedia’s price prediction shows](https://coinpedia.org/price-prediction/worldcoin-wld-price-prediction/ "Coinpedia’s price prediction shows") that the cryptocurrency is targeting $11.04 by the end of 2024. Considering that the coin is currently trading at $4.80 it can reach that target if there is investor confidence. Also, if the coin maintains its current market position and popularity it may rise by more than 50% during the remainder of the year. Definitely, the whale activity is the basis for WLD’s future price movement.

Read also WLD price predictions [from Gate.io analytics](https://www.gate.io/price-prediction/worldcoin-wld "from Gate.io analytics")

## Conclusion
The prospect of WLD recovery is high considering that many crypto whales and retail investors are accumulating the coin. For a long time WLD whales have been supporting the cryptocurrency leading to periods of [sustained price growth and global adoption](https://www.gate.io/blog_detail/4069/worldcoin-surge-10m-users "sustained price growth and global adoption"). Currently, some analysts believe that its value may surpass $11.00 by the end of 2024.

## FAQs about WorldCoin
### Why is Worldcoin rising?
Worldcoin often maintains high demand as a result of a positive market sentiment. Also, this is a universal coin which anyone can easily earn for scanning his/her retina using the Worldcoin app. Crypto whales also buy and hold WLD.
### Why is Worldcoin surging?
The main reason why the Worldcoin (WLD) is surging is crypto whale activity. The whales usually buy WLD in large quantities and hold it for long periods.
### Can Worldcoin reach $100?
If many governments do not ban the Worldcoin service such as providing proof of personhood WLD may attain a value of $100 in the future. Current predictions show that WLD may reach $100 in 2044.
### Is Worldcoin good investment?
Worldcoin should be a good investment if the current market conditions and regulatory climate persist since many crypto whales invest in it. Since anyone of the right age around the world can earn WLD its demand is likely to rise in the future.
### How to buy WLD?
You can buy WLD on various exchanges like Coinbase, Binance and Gate.io. First, at Gate.io you can <a href="/id/how-to-buy/tether-usdt" target="_blank" class="blog_inner_link">buy Tether</a> USDT using credit card, P2P trading and Wire transfer which you can convert to WLD.

<div class="blog-details-info">
<div>Author:**Mashell C.**, Gate.io Researcher
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

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