Worldcoin Price Surges 13% Amid AI Coin Frenzy

Worldcoin's price has surged by over 13% in the past 24 hours, more than doubling its weekly gains to over 26%. The altcoin has been consistently bullish over the past month, with gains exceeding 50% as of press time.

The rally is being driven by renewed interest in AI coins, including Worldcoin and others like Near Protocol, Bittensor, Injective, and Internet Computer. These tokens have recorded double-digit gains from a similar time scale, indicating a broader trend in the market.

According to data from CryptoQuant, the Spot Taker CVD of the past three months has flipped green, indicating buyer dominance. Additionally, the Long/Short Ratios on Binance and OKX are above 1.70, with Top Trader Long/Short ratios reaching as high as 2.11, suggesting large players are invested in Worldcoin.

However, despite the bullish signals, there are concerns about a potential dead cat bounce due to the upcoming unlock of 69 million Worldcoin tokens on September 7th, valued at $28 million. This amount is just a fraction of the 87 million tokens set for release this month, which could still put selling pressure on the market.

The technical outlook also suggests that the price may break out above the $0.41-$0.45 zone, but the RSI divergence remains bearish, indicating that selling pressure has not yet been exhausted.