How is OpenAI’s Sora impacting Artificial Intelligence (AI) Tokens?

OpenAI’s recent introduction of the Sora text-to-video model has set ripples in the world of AI tokens.

Notably, Worldcoin’s (WLD) token, which is backed by tech luminary and OpenAI’s CEO Sam Altman, experienced a remarkable 40% surge and reached a staggering 185.8% increase in the past week.

As the strongest AI token, Worldcoin’s WLD surged 30% and reached a new lifetime high of $7.

The surge in WLD’s value kicked off on February 15, coinciding with the launch date of Sora.

Despite Sora’s inaccessibility to the public, it has made waves in the tech world and is called the best text-to-video AI tool to date. While the projects are unrelated, the connection to Altman, who co-founded Worldcoin and leads OpenAI, seems to be a driving force behind the increased interest from crypto traders.

On February 17, the price of WLD broke through the $4.5 resistance level due to the recent positive momentum, indicating that the price would continue to rise. The next milestone for the bulls is the new ATH, but the bears are defending a rally above $5.5. WLD’s price is currently trading at $5.3, up more than 21% from yesterday’s pricing.

The Relative Strength Index (RSI) has entered an overbought area due to the recent sharp increase, suggesting that the current rally may be reaching its limit too soon. In the upcoming days, this can cause a minor retreat or a phase of consolidation. 

If the price were to find support at $4.7, this would suggest that traders are still taking advantage of dips as opportunities to purchase and that market sentiment is still favorable. On the other hand, a drop below $4.7 would indicate that bullish momentum is waning. In such a case, the WLD price may drop to the 20-day Exponential Moving Average (EMA) of $4.3.

Worldcoin aims to establish a global ID system using iris scanning, and despite facing scrutiny from governments, the recent market movements indicate a substantial impact on its token value.

Beyond Worldcoin, the broader category of AI tokens has witnessed positive trends. Coins associated with artificial intelligence projects, though unrelated to OpenAI, show an impressive 11% increase in the past day and over 40% in the past week. Standout performers include SingularityNet, Fetch.ai, and Ocean Protocol.

OpenAI, known for its advancements in AI technology, has further solidified its presence with the Sora text-to-video model. The closed beta launch showcases realistic emotions and seamless video transitions, contributing to the overall positive sentiment around AI-related tokens. 

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