Worldcoin, now known as World, has experienced a significant surge in its native token WLD over the past day following the announcement of the World ID Passport Credential pilot program in several countries. The token rallied over 19% in the last 24 hours, reaching a 5-month high of $3.03 before settling at $2.88. The market cap of the asset exceeded $2 billion, with a substantial increase in daily trading volume.
The rally was ignited by the revelation that World is piloting World ID Credentials in countries such as Chile, Colombia, Malaysia, and South Korea. This feature, currently available on iOS devices, enables individuals in these countries to link their NFC-enabled passports to their World ID, allowing them to claim WLD tokens without the traditional in-person iris scan via the Orb.
Following this announcement, the open interest in the WLD futures market surged by 21.8% to $418.31 million, indicating a growing demand among traders, which further fueled the token’s rally.
Analysts have expressed bullish speculation on WLD’s potential for further gains, with some pointing to a target of $12 for the token. Technical analysis also supports the idea of a continued rally, with patterns such as the ascending triangle and cup-and-handle formations indicating potential gains exceeding 50% in the short term.
The strength of the trend remains strong, as evidenced by the WLD/USDT 24-hour chart showing the token trading above the upper Bollinger Band, indicating steady buying activity. With the Relative Strength Index at 65 and an Average Directional Index of 27, there is ample room for bullish momentum to continue.
As Bitcoin faces resistance at the $100,000 level, investors are turning their attention to altcoins like WLD, positioning the token for further growth in the coming weeks. The launch of the World ID Passport Credential pilot program has set the stage for an exciting period of potential gains for World’s native token.