According to coinmarketcap, the total supply of DOT is around 1.1B DOT and around 987M of the DOT are in circulation at the moment. It holds the 10th rank according to market cap and has a market dominance of about 0.10%.
At the time of writing DOT is being traded at the price of $25.05 with a decrease of almost 9% in the last 24 hours. The maximum and minimum today are $27.70 and $24.78 respectively. The daily trading volume has also decreased by almost 16.73%. DOT had created its ATH in November 2021 and reached a price of almost $55.05. The price during the crash dropped down to a price of almost $10.37 in the month of July 2021. Overall the price is moving for higher highs. In November, we saw a decrease of almost 11%. This month, we have seen a decrease of almost 34%.
Technical Analysis – Polkadot (DOT)
DOT at one point had been highly talked about. During the news of Parachain auctions DOT had been printing higher highs and eventually achieved all time high.
It can be seen on the chart that DOT had shown a reversal in the structure and soon started to fall down making lower lows and lower highs. The price had been following and respecting the trend line from where it had rejected from many times. Now the price is at the make or break point.
The price can try to touch the trend line again from where we can expect a reaction from the price. If the price gets rejected from there we can look for a lower low and eventually at a low price level. If the price becomes stable above the trend line and gives a valid retest we can look for a reversal in the price and eventually a shift in the structure which would lead to the first target of $38.
Price Prediction – Polkadot (DOT)
DOT is a good investment and is going to provide great returns. Wallet investor considers DOT to be a really good investment as well. According to them, in a year the price is expected to reach a value of $55.340. In five years the price is expected to reach a value of $161.378. Traders on the other hand are very bullish on the price and think that it wouldn’t be long before DOT moves up to create a new ATH.
