According to CryptoPotato, Polkadot (DOT), the native cryptocurrency of the blockchain protocol Polkadot, is currently valued at around $8.50, showing minor gains on a weekly scale. The cryptocurrency, which is the 15th largest in terms of market cap, has seen a 3% increase in its price over the past week. Several crypto experts predict a bright future for the cryptocurrency, with forecasts ranging between $15 and a new all-time high (ATH).
Michael van de Poppe, a user with over 700K followers, recently suggested that DOT has reached a cycle low on the BTC valuation. He claimed that there is fundamental progress and that the asset will be included in his personal portfolio. Another user placed DOT among the digital assets with a 5-10x price increase potential, alongside Solana (SOL), Ripple (XRP), and Ethereum (ETH).
Several other traders and analysts have also commented on Polkadot's native token this week. CryptoYoddha predicted a price tag of $20 to be reached this summer. CRYTPOWZRD and crypto content creator Jake Gagain were also bullish. 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.