Why Is Worldcoin Price Rising?

Worldcoin (WLD), the cryptocurrency launched by OpenAI’s founder and ex-chief executive officer (CEO) Sam Altman has made an impressive recovery after Microsoft officially announced that the tech giant has hired Altman for a key role. 

The WLD coin price has recovered from a sharp fall which came in the aftermath of OpenAI’s board firing Altman from the CEO role. The cryptocurrency’s price fell to $2.04 following Altman’s departure from OpenAI on Sunday. But WLD has now made a decent recovery and is trading at $2.40 apiece. 

Worldcoin’s fall last week

WLD started falling when Altman’s exit from OpenAI as its CEO made big headlines. Following this, the token’s price dropped by more than 10%. The news clearly pushed holders of the cryptocurrency to sell their coins, which eventually led to a fall in the prices of the coin. 

Another reason for the fall of WLD last week was the lull performance of the overall crypto market. During the same time, the overa

ll crypto market also lost around 1% market capitalization. 

Worldcoin makes fast recovery 

Within a few days of its fall, Worldcoin has recovered from the market-beating. The price of Worldcoin (WLD) surged 24.16% from the fall to around $2.42 per coin, after Microsoft announced the hiring of former OpenAI CEO Altman, along with the other OpenAI cofounder Greg Brockman. 

At Microsoft, Altman and Brockman will lead a new advanced AI research team, Microsoft’s CEO Satya Nadella announced on Monday. “We’re extremely excited to share the news that Sam Altman and Greg Brockman, together with colleagues, will be joining Microsoft to lead a new advanced AI research team,” said Nadella. Adding “We look forward to moving quickly to provide them with the resources needed for their success.”

Microsoft Hiring Sam Altman Changes Fortune For WLD  

Microsoft’s immense trust in Altman and his vision brings promise to WLD. Following his appointment at Microsoft, investors started buying WLD which pushed the tokens to an even higher level than before Altman’s layoff from OpenAI, the company behind the popular conversational AI tool, ChatGPT. 

When Will Worldcoin WLD Cross the $10 Mark? 

As of November 21, 2023, Worldcoin (WLD) is currently trading at $2.42, with a gain of 7.25% in the last seven days. Technical analysis of the coin shows a bullish sentiment of 78% and a bearish sentiment of 22%. 

The coin has had a positive trajectory since September 2023. The token has consistently traded above its 50-day Exponential Moving Average (EMA). This indicates a continued upward trend.

Looking ahead, the price analysis points to a key resistance level of $2.5. Breaking through this level could open the door to new highs. In the long run, it could potentially lead to a bullish rally for Worldcoin. Projections for 2023-2030 suggest a price range of $3.5 to $5 in 2023, with the coin expectations expected to reach $11.6 to $15.2 in 2024.

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• Source: https://coingape.com/blog/why-is-worldcoin-price-rising/