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- 1 Polkadot crypto price slid 4.65% in the past 24 hours and currently hovers near $4.51.
- 2 The Polkadot price has been on a rising trend in the past 2 weeks and added over 28% to its market cap.
- 3 The recent Polkadot price forecast showcases that its value will rise to a high of $6.42 by the end of 2023.
Polkadot is an open-source multi-chain protocol that connects and secures different blockchains, enabling them to exchange data assets. It is a Layer-0 meta protocol that can update itself through on-chain governance by its token holders.
Polkadot supports a decentralized web or web3, where users control their data and applications. It connects the public and private chains. The network has a user-driven governance system where token holders vote on network decisions. Nominators, validators, and collaborators help secure and maintain the network.
Polkadot price has experienced a drop of over 5% in the past two sessions. Moreover, the price still stands above the recent swing low indicating a pullback. The recent sessions have seen a price surge from a low of $3.5 to $4.75; gaining nearly 28%.
DOT had a 24-hour trading volume of $199.5 Million with a drop of 24.87% as compared to the previous day. The live market cap of Polkadot is $5.58 Billion and stands at 14th among the top cryptos. The volume-to-market cap ratio is 3.65% indicating a low volatility in the market.
Polkadot Price Prediction November 2023
The last two weeks have been favorable for Polkadot buyers as the crypto price has gained over 28% in the period ascending from a low of $3.5. The price has surpassed the recent swing high, turning optimistic in the short term.
However, the long-term trend remains indecisive at the moment as the price has not managed to close above the 200-day EMA. The price needs more buying volume to turn bullish. The technical indicators imply that the DOT price bounced back from the 50-day EMA indicating how the EMA is acting as a dynamic support for the price.
The price prediction for November 2023 showcases a neutral to bullish outlook as the price has an upper resistance of 200-day EMA. The price may consolidate or correct until it stays below the higher EMA. On the flip side, the breakout above the EMA may again resume the flow towards the upside.
Polkadot Price Prediction 2023
The financial year 2023 has seen so many ups and downs that started from the beginning of the year. Several countries faced the fear of recession. The tensions between Russia and Ukraine continued to prevail. The Fed interest rate hikes also impacted major world economies.
Despite the prevailing challenges, the crypto markets have managed to make a comeback in the second half. The price is expected to rise in the coming years.
The Polkadot crypto price is up 4.64% on a year-to-date basis. The most optimistic price outlook of the analysts expects the price to surpass an important level of $4.79 and hover near $6.53 signifying an upside potential of 45% from the current market price. The minimum price target up to which Polkadot crypto may reach is estimated at $4.95 by the end of 2023.
Polkadot Price Prediction 2024
The crypto market may see an advancement in the financial year 2024 as many upgrades and innovations are expected. Cryptos are also expanding their role in various projects, which may boost their price.
As per the analysts, the most optimistic target that Polkadot price may achieve is $10.46 indicating an upside potential of 130.56% from the CMP. The average analyst price target is $8.27 by the year-end of 2024. However, the pessimistic view of analysts expects the price to reach $6.34.
Polkadot Price Prediction 2025
The most optimistic analyst forecast for Polkadot crypto expects the price to reach a high of $14.17 with a potential gain of 213.36% from the current market price. The minimum forecasted price by the year-end of 2025 is $10.04. The average predicted price till 2025 is $11.97.
Polkadot Price Prediction 2026
As per many analysts, the crypto markets have not yet reached their full potential and are still in their growing phase. The price may advance more in the coming years with the advancements in technologies and adaptation of the technology on a larger scale.
The DOT price may reach a high of $18.35 if a positive trend prevails for the crypto market. On the flip side, the most pessimistic view of the analysts expects the price to reach $14.97 by 2025.
Polkadot Price Prediction 2027
According to the analysts’ price prediction for the year 2027, the most optimistic view of analysts estimates a price target of $15.7. The average analysts’ price target is $13.89 and the minimum price target of analysts is $11.6 by 2027.
Polkadot Price Prediction 2028
Till the year 2028, the crypto markets may get more exposure and may create more dependencies in many sectors. On the most optimistic side, the Polkadot price may advance to a high of $24.2. The price may rise to a minimum of $18 if uncertainties arise.
Conclusion
With the rise and fall of the crypto market, it is uncertain to say for sure where the price will head in the upcoming years. However, the Polkadot price has been on an uptrend for the past couple of days. It will be interesting to see where the price trend will prevail in the next couple of years.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
