According to CryptoPotato, despite the recent market decline, Polkadot's native token, DOT, is showing potential for significant gains. The token experienced a severe tumble during the latest market correction, with its price dropping by 20% on a weekly scale, even briefly falling below $6. However, it has started to recover in the past several hours and is currently trading at around $7, marking a 7% increase in the last 24 hours.
Cryptocurrency trader FLASH, who recently commented on DOT's price turbulence, described the asset's trajectory as 'the ugliest ever,' but suggested that the trends might soon change for the better. FLASH speculated that DOT could either continue to drop in the near future or ascend impressively toward the $20 mark. The trader revealed that they had added DOT to their portfolio, indicating a preference for the latter scenario.
Another analyst, Michael van de Poppe, also added Polkadot's asset to his portfolio. He recently stated that the token has 'reached a cycle low on the BTC valuation,' but maintained that 'fundamental progress is there.' Other analysts have also made predictions about the asset. Last week, CRYPTOWIZARD suggested that DOT's value is on the verge of a 'volcanic eruption brewing.' They predicted an 80% price increase if the coin can overcome the major resistance zone of $9.60. Crypto content creator Jake Gagain and user CryptoYoddha also shared their views. Gagain predicted an all-time high sometime next year, while CryptoYoddha forecasted a rise to $20 this summer.