The Internet Computer crowd finally has something to celebrate besides survival. ICP price just ripped nearly 35% higher to touch $4.0 before cooling near $3.70, and for once, this wasn’t some random candle fueled by some kind of meme-level delusion. The breakout actually came with a proper narrative to which traders could sink their teeth into.
More importantly, ICP/USD today has managed to break above the 200-day EMA band, flipping a long-standing resistance zone into dynamic support. In crypto terms, that’s basically the chart screaming, “maybe the pain trade is over.”
Well, the rally in ICP token price really started on May 5 after Dfinity announced on X that WordPress now runs entirely on the Internet Computer through the Wasp Technology team.
And no, not partially. The deployment reportedly includes the frontend, WP-admin, database, and caching system running fully on-chain without external databases, off-chain caches, proxy layers, or TEE VPS infrastructure, per their x post. That development helped ICP price bounce from the $2.30 support region and climb roughly 70% in total over the ongoing rally.
That said, the run in ICP/USD was real, and more to that the reality is that retail traders alone don’t usually sustain moves like this. On-chain supply distribution data paints a more interesting picture here.
As metric chart shows that the Wallets holding between 10 and 10,000 ICP tokens have reportedly been reducing exposure in early May. Meanwhile, holders controlling 10,000 to 100,000 ICP and even wallets holding 100,000 to 1 million ICP have started accumulating. This makes it clear that buying demand is back.
So, moving forward what’s next? The immediate hurdle now sits around the $4.50 resistance area. If ICP price breaks above that level and converts it into support, the probability of a move toward $7.00 before H1 2026 closes starts looking a lot less ridiculous.
For now, the Internet Computer rally finally has both technical momentum and a narrative powerful enough to keep traders watching.
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