Worldcoin (WLD) has extended its recent rally, climbing more than 6% in the past 24 hours and approximately 88% over the last month, as traders increasingly rotate into assets tied to the artificial intelligence narrative. According to CoinGecko, WLD traded near $0.51 on June 9, with weekly gains exceeding 18% and a two-week advance of roughly 40%.
The token's surge places it among the strongest performers in the cryptocurrency market during this period, supported by a confluence of catalysts. OpenAI's confidential filing of IPO paperwork under Rule 135 has fueled speculation about the company's future valuation, despite the firm stating it has not decided on a timeline for going public. Because OpenAI CEO Sam Altman co-founded Worldcoin, traders have treated WLD as a liquid proxy for sentiment surrounding OpenAI, with some anticipating a potential valuation exceeding $1 trillion.
Additionally, enthusiasm around Elon Musk's AI ecosystem has added momentum. Market participants are focusing on SpaceX's upcoming listing after it absorbed xAI earlier this year, prompting capital rotation into AI-linked crypto assets. Worldcoin, alongside NEAR and Bittensor, has emerged as a key beneficiary of this trend, especially as Bitcoin's price action remains relatively subdued.
Policy developments have also contributed to the bullish backdrop. The Trump administration may seek equity stakes in U.S. artificial intelligence companies and plans to meet with industry executives. OpenAI is viewed as a potential beneficiary of such policies, further strengthening attention on assets connected to the company.
In the digital identity sector, a security breach at Humanity Protocol, one of Worldcoin's competitors, on June 9 saw attackers compromise private keys and drain over $30 million from foundation-linked wallets. The incident triggered an 88% collapse in Humanity Protocol's native token, prompting some traders to shift focus back to Worldcoin's network. BitMEX co-founder Arthur Hayes recently disclosed that he exited positions in ZEC and HYPE while maintaining exposure to WLD, arguing that Worldcoin could benefit from growing investor interest in AI-related assets.
Technical Analysis: Descending Triangle Nears Apex
On the weekly chart, WLD remains within a descending triangle that has guided prices lower since its 2024 peak above $11. The pattern features a falling resistance line and a support zone between roughly $0.45 and $0.50, where buyers have repeatedly stepped in since late 2025. While descending triangles often appear in bearish trends, this structure formed after a decline exceeding 95% from the all-time high, leading some traders to view it as a long-term accumulation range.
Recent price action has pushed WLD directly into the triangle's apex. A breakout from this area would carry additional significance because volatility has contracted for nearly two years, increasing the likelihood of a larger move once the range resolves. On the shorter-term chart, buyers maintain control above all major exponential moving averages (20, 50, 100, and 200 EMAs), with a bullish alignment pointing to improving momentum.
After briefly reaching approximately $0.57, the token pulled back and stabilized near $0.50 before resuming its advance, suggesting buyers continue to absorb selling pressure during dips. The weekly Awesome Oscillator remains below zero, indicating the broader trend has not fully turned bullish, but the histogram has become less negative over recent months, signaling easing bearish momentum.
If WLD can secure a weekly close above the descending trendline, technical traders may target levels around $0.75 and $1.00. Beyond those, projections tied to the triangle breakout point toward potential targets near $1.50, $2.50, and $4.00, though these depend on a confirmed breakout and sustained buying pressure.
Tokenomics Update Adds Demand
Another factor attracting attention is Worldcoin's scheduled tokenomics update on July 24, which is expected to reduce daily token unlock emissions by roughly 43%, lowering the amount of new supply entering the market each day. Traders positioning ahead of that reduction have added another source of demand during the recent rally.
For now, the area between $0.45 and $0.50 remains the key support level to watch, while a move above recent highs around $0.57 to $0.60 could strengthen the case that Worldcoin is attempting to break free from a multi-year downtrend. For broader market context, see our analysis on Chainlink's recent rebound and Bitcoin's support levels.
This article is for informational purposes only and does not constitute financial advice.
