The post Polkadot Price Prediction: Will DOT Price Crash to 0? appeared on BitcoinEthereumNews.com.

Polkadot (DOT) has been facing a tough time in the market recently, struggling to move past a key resistance level. Investors are wondering whether this could mean a significant price drop, or if DOT will find the strength to rise again. In this Polkadot Price Prediction article, we’ll break down what’s happening with Polkadot’s price, why it’s facing these challenges, and whether it could crash further or make a comeback soon. How has the Polkadot (DOT) Price Moved Recently? DOT/USD Daily Chart- TradingView  As of today, Polkadot (DOT) is priced at $4.12, with a 24-hour trading volume of $261.49 million, a market cap of $6.18 billion, and a market dominance of 0.29%. Over the past day, DOT’s price has dipped by 1.87%. Polkadot reached its all-time high of $54.98 on November 4, 2021. Its lowest recorded price was $2.82 on August 22, 2020. Since reaching its peak, the lowest DOT price observed was $3.59, and the highest rebound from this low was $11.86. Currently, the market sentiment for Polkadot is bearish, while the Fear & Greed Index stands at a neutral 50. Polkadot has a circulating supply of 1.50 billion DOT, with a maximum supply of 1 billion DOT. The annual supply inflation rate is 51.85%, resulting in an additional 512.08 million DOT being created over the past year. Why Polkadot (DOT) Price is Down? DOT/USD 1 Hr Chart- TradingView  The recent dip in Polkadot’s (DOT) price can be attributed to several factors, both technical and market-driven. Despite an increase in on-chain activity, with over a 25% rise in active users since May 2023, the DOT price has faced challenges in maintaining momentum above key levels.  This rise in user engagement is generally a positive sign for network health and potential demand. However, the surge in activity has not directly…

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Filed under: News - @ October 6, 2024 5:46 am