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Worldcoin Eyes $1.1: Whales and Growing Network Activity Drive Bullish Momentum
Worldcoin (WLD) has recently witnessed a significant resurgence of whale activity, signaling renewed investor interest as the altcoin trades below $1. After reaching a local high of $1.1, WLD dipped to a low of $0.86 and was last seen at $0.924, representing a 2.4% decline in 24 hours.
Big Whale Orders Dominate the Spot Market
As the price retraced, whales returned to the market, seizing the opportunity to accumulate WLD. Data from CryptoQuant indicates that Big Whale Orders dominated the spot market last week, reflecting strong accumulation trends.
Onchain Lens reported that a newly created wallet purchased 9.32 million WLD, valued at $8.85 million, highlighting the conviction of major investors. Historically, such whale accumulation often signals potential upward momentum in the market.
Supporting this trend, CoinGlass data revealed that Worldcoin experienced a negative Spot Netflow of -$574k on August 29, indicating higher outflows than inflows and further confirming whale-driven activity.
On-Chain Activity Strengthens
The rebound in WLD is not limited to whales. Santiment data shows that Daily Active Addresses (DAA) remain positive and sustainable, suggesting more unique users are engaging with the network. This trend often points to undervalued demand, hinting that WLD’s price could eventually align with growing network activity.
Technical Signals Hint at Potential Recovery
According to AMBCrypto, Worldcoin’s Stochastic RSI surged to 55 after a bullish crossover, indicating strengthening upward momentum. For a sustained move, WLD needs a daily close above the 9-day moving average (DMA 9) at $0.954.
At press time, WLD was testing the 21-day moving average (DMA 21) at $0.987. Breaking this level could pave the way for a rebound to $1.1, while failure might see a pullback to $0.86 support.
Bottom Line
With renewed whale activity, growing on-chain engagement, and positive momentum indicators, Worldcoin appears to be regaining traction. Investors and enthusiasts are closely watching the market to see if WLD can sustain this recovery and reflect its expanding user base.
