Worldcoin (WLD) Surges 111% as Whales and Institutions Accumulate

Worldcoin (WLD) has recently experienced a surge in interest from both whales and institutional investors, with the cryptocurrency's price increasing by over 111% since the beginning of April. This heightened activity has led to speculation about a potential 25% rally, with the asset currently trading near the $1.07 mark after a correction phase.

On April 30, on-chain analytics firm revealed that whales and institutions have been heavily participating in the asset. Large Transaction Volume spiked 42% over the past 24 hours, while Active Addresses jumped 43%, indicating a bullish signal. Additionally, whale transactions worth between $100K and $1 million soared by 384%, suggesting aggressive accumulation and a bullish outlook.

The bullish sentiment is further supported by the Binance WLDUSDT Long/Short Ratio, which stood at 2.12, reflecting a clear bullish bias. This metric showed that 67.95% of top traders took long positions, while only 32.05% leaned bearish. Intraday traders also backed the bulls, with $3.63 million in long positions and $2.77 million in shorts built around key support and resistance levels of $1.05 and $1.11, respectively.

Technical analysis suggests that WLD appears bullish and is currently retesting its breakout level at $1.05. If the asset holds above this key support level, there is a strong possibility that WLD could soar by 25% and reach the $1.35 level in the near future. However, if WLD falls below this support level, it could shift the sentiment to bearish and push the asset down by 20%, potentially reaching the $0.815 level.

The increased activity from whales and institutions has raised questions about whether retail investors will follow suit. Historically, retail investors often enter the market after whales and institutions have already made their moves, seeking to capitalize on the momentum created by these larger players. If retail investors decide to jump in, it could further fuel the rally and drive WLD's price even higher. However, it remains to be seen whether retail investors will be convinced by the current market dynamics and the potential for a 25% rally. The decision of retail investors to enter the market will likely depend on various factors, including market sentiment, technical analysis, and the overall economic climate.