Worldcoin (WLD) price jumps 31% to hit an intraday high of $1.63, marking a massive 180% gain from its lows last month

According to data from crypto.news, Worldcoin (WLD) jumped 31% to hit an intraday high of $1.63 on May 23 Asian morning time, marking a massive 180% gain from its lows last month.

Worldcoin (WLD) price surged 31% to hit an intraday high of $1.63 on May 23, continuing its strong run. This new high marks a massive 180% gain from its lows last month.

The main catalyst behind today's rally is renewed investor interest following news that the World Foundation raised $135 million in funding.

This fresh capital will be used to grow their iris-based identity network, World ID, according to a May 21 update by the team.

Top crypto investors like Andreessen Horowitz and Bain Capital Crypto led the round and bought Worldcoin tokens at market price. That not only added more tokens into circulation but also brought strong institutional backing, adding credibility to the project.

This funding comes at a time when Worldcoin's adoption is gaining momentum. World ID has now expanded into the U.S. and continues to gain traction across Asia. Singapore leads with over 100,000 users, while Japan and South Korea each added more than 10,000 new users in April.

The network has also entered Southeast Asian markets, including Thailand, Indonesia, Malaysia, and the Philippines.

Meanwhile, on-chain data shows a corresponding rise in daily active addresses and accumulation from large holders, factors that align with today's price breakout.

Technical setup looks bullish

On the 1-day/USDT price chart, WLD recently broke out above the upper side of a rising wedge, a pattern that typically signals a bearish reversal, but in this case, the breakout turned bullish. The token is also trading above its 50-day simple moving average and is nearing the 200-day SMA, showing strength.

It has also flipped its 200-day exponential moving average into support, a bullish sign.