Worldcoin Rally: What’s Behind the 20% Surge in WLD and Where the Price Is Heading
On June 15, the Worldcoin (WLD) token showed strong growth, gaining over 20% in a day. The key catalyst for this movement was a disclosure from Eightco Holdings (ORBS), which officially confirmed its status as the largest public holder of WLD. The company's balance sheet holds 283 million tokens, accounting for approximately 8.4% of the total circulating supply. This stash, valued at $406 million, forms a powerful fundamental base for further growth of the company's digital assets.
Institutional Signal and Eightco's Strategy
Eightco Holdings' total portfolio, in addition to WLD, includes over 16,000 ETH and a $90 million stake related to OpenAI. This is the largest publicly disclosed institutional position in WLD — no other public company has confirmed holding a comparable volume of tokens. Eightco itself views its investment in Worldcoin as a long-term bet on the development of digital identity technologies. In an environment where a significant portion of internet traffic and transactions is generated by automated systems, the Proof of Human concept becomes critically important. The Worldcoin ecosystem, which already has over 16 million verified users, acts as a verification layer addressing this issue.
Technical Analysis: Bullish Momentum Amid Divergence
On the daily chart, WLD managed to break through the 0.786 Fibonacci retracement level around $0.57. The current target is the previous local high near $0.66. A close above this level could open the path for further movement. However, one concerning signal is worth noting: the RSI indicator is forming lower highs against a rising price, indicating a classic bearish divergence. Such a pattern often foreshadows a correction. The nearest support is located at $0.45, with a more reliable level at $0.33.
The hourly chart looks more optimistic. Since late May, WLD has been trading within an ascending parallel channel, which was only briefly broken in early June. The RSI is holding former resistance as support in bullish territory. If buyers can defend the channel, the upward movement will continue. Volumes increased on the breakout but remained below the highs of early June, indicating a need for greater activity for sustained growth.
Final Assessment
On one hand, we see a strong fundamental catalyst in the form of institutional accumulation and Eightco's long-term strategy, as well as growing interest amid a potential OpenAI IPO. On the other hand, clear technical risks have formed on the daily chart. As long as the price holds above $0.45, chances for a continued rally remain. However, a drop below $0.33 would signal a pause in the uptrend. The market is currently at a bifurcation point, and the coming days will be critically important for determining WLD's medium-term direction.
Expert Opinion: Institutional interest in Worldcoin is undoubtedly a positive signal, but I advise caution. The bearish divergence on the daily chart is not a signal to ignore. Buyers need to convincingly confirm their intentions, otherwise we risk seeing a deep correction to the $0.33 zone, which could "eat up" a significant portion of the recent gains.