Worldcoin (WLD) Soars 100% on Treasury News: ATH Still Distant?
Worldcoin Treasury Push Sparks Rally, ATH Remains a Challenge
Worldcoin [WLD] experienced a significant price surge following the announcement of its treasury strategy. The rally signals strong bullish sentiment, but the token still faces a long climb to reach its all-time high.
The price of Worldcoin (WLD) has more than doubled in just six days, rebounding from a four-month low of $0.86. The surge broke through a range-bound formation between $0.86 and $1.52, overcoming mid-range resistance at $1.2.
Eightco Holdings Inc. [OCTO] announced on Monday, September 8th, a $250 million private placement, alongside a $20 million strategic investment from BitMine [BMNR], to launch Worldcoin's first treasury strategy. This includes the purchase and sale of approximately 171,232,877 shares of common stock at $1.46 per share. Dan Ives, Global Head of Technology Research at Wedbush Securities, will also join Eightco as Chairman of the Board.
According to CNBC, Ives stated:
“As someone that’s so passionate about the AI revolution and the future of tech, I view World as really the de facto standard for authentication and identification in the future world of AI.”
Worldcoin's Price Reaction
WLD's price surged by 30% on Monday, with further gains appearing likely. The 1-day market structure turned bullish, fueled by gains from the previous week. This technical breakout occurred after surpassing the previous lower high of $0.965.
Technical indicators support the bullish trend. The Chaikin Money Flow (CMF) indicates substantial capital inflows and sustained demand over the past week. The Money Flow Index (MFI) suggests the token is not yet in overbought territory.
Despite the positive news surrounding the treasury strategy, Worldcoin remains considerably below its all-time high of $11.74, achieved in March 2024. However, breaking out of its higher timeframe range since May could be the initial step toward potentially reaching that level again.
For projects considering treasury management solutions or requiring smart contract audits after such announcements, platforms like Codeum can provide comprehensive support.