Worldcoin (WLD) saw a significant price increase on September 12 following OpenAI’s announcement of its new AI model, o1.
This model, designed for complex reasoning tasks, created a surge in Worldcoin’s value, breaking past key resistance levels. After initially spiking by 16%, the price settled around $1.49. Investors now wonder if Worldcoin can leverage this momentum to hit $2.
OpenAI’s o1: The Reason Behind Worldcoin’s Surge
OpenAI, known for its role in ChatGPT, unveiled a new AI model called o1, which is reportedly more advanced than its predecessor. The o1 model focuses on solving complex issues in fields like quantum physics and coding. This announcement generated excitement, as Sam Altman, co-founder of both OpenAI and Worldcoin, played a key role in this development. The connection between Altman and Worldcoin fueled speculation, helping drive the token’s price upwards.
Worldcoin Price Outlook: Can It Reach $2?
Worldcoin has been trading below $1.50, a strong resistance level, for weeks. However, the recent surge broke through this barrier, forming a bullish chart pattern. If Worldcoin successfully retests the new support level of $1.50, it could see a 34% increase, pushing the price to $2.00. If buying pressure continues, it might even reach the next resistance at $3.20.
On the downside, failure to maintain the $1.50 support could trigger a drop, with potential targets of $1.35 and $1.25.
Why is Worldcoin’s Price Rising?
The primary reason behind the recent rise is the launch of OpenAI’s o1 AI model and the market’s connection between Altman’s involvement in both projects. Additionally, despite criticism surrounding Worldcoin’s tokenomics and supply control, it has remained a hot topic in the crypto community.
