DOT Price Rally in the Making? Popular Analyst Emhpasizes Strong Fundamentals

TL;DR

• Polkadot (DOT) is currently valued at approximately $8.50, recording minor gains on a weekly scale.
• Several crypto experts predict a bright future for the cryptocurrency, with forecasts ranging between $15 and a new ATH.

DOT Price Fundamentals Remain Strong

The native cryptocurrency of the blockchain protocol Polkadot – DOT – remains the 15th largest cryptocurrency in terms of market cap, with its price registering a 3% increase on a weekly scale.

Currently, the asset is worth approximately $8.50 (per CoinGecko’s data) while numerous analysts expect significant surges in the near future.

The X user with over 700K followers – Michael van de Poppe – recently suggested that DOT has “reached a cycle low on the BTC valuation.” He claimed a “fundamental progress is there,” adding that the asset will be included to his personal portfolio.

There we go, $DOT reached a cycle low on the $BTC valuation due to the strength of Bitcoin.

Rotation is near, fundamental progress is there, I’m glad to be adding this to my personal portfolio. pic.twitter.com/L6zMRErapg

— Michaël van de Poppe (@CryptoMichNL) April 11, 2024

Another popular X user placed DOT among the digital assets with a 5-10x price increase potential. Solana (SOL), Ripple (XRP), and Ethereum (ETH) are the other tokens put into the same category.

The Latest Polkadot Price Predictions

Numerous other traders and analysts touched upon Polkadot’s native token this week. As CryptoPotato reported, CryptoYoddha envisioned a price tag of $20 to be reached this summer.

CRYTPOWZRD and the crypto content creator Jake Gagain were bullish, too. The former believes that DOT is on the verge of a “volcanic eruption brewing” should it surpass the important resistance zone of $9.60, whereas the latter predicted a new ATH sometime in 2025.

One factor that could positively impact the price of the cryptocurrency is the advancement of Polkadot. Earlier this month, the team behind the protocol announced its “Ambassador Program 2.0:” an initiative designed to support and integrate individuals into the community.

This post is powered by Polkadot