😡#COMMUNITYIS FURIOUS WITH POLKADOT, does price $DOT have an impact?##
On July 2, Polkadot caused heated controversy in the community when it publicly announced its treasury spending over the past 6 months. Accordingly, if the price of $DOT does not increase soon, the project will only have enough funding to maintain for another 2 years.
👉In the first half of 2024, Polkadot spent 87 million USD, including 37 million USD on advertising. Controversy broke out when the community believed that these marketing campaigns were ineffective and even shady.
Specifically, the project spent 50,000 USD/6 months on Coingecko just to buy logo animation (an animation that turns Polkadot's circular logo into fire spots😅😅). They also paid CoinmarketCap but the contract value is unknown.
The project spent 5 million USD on about 30 KOLs, but some KOL accounts on this list were found to belong to the same organization named 'azdizor'. This organization has been accused of advertising many unhealthy projects.
👉In short, a large amount of Polkadot's marketing money is allegedly flowing into the pockets of a few individuals, instead of being used properly to expand the community as the original goal.
💵The positive thing is that DOT price is not much affected by the above FUD. Since the beginning of April, DOT has been pointing sideways around 6 -7 USD.
Currently, BTC is changing unpredictably, so those who want to invest in DOT should divide their capital to buy when the price reaches 4 - 5 USD. This is also the hard support area on the 1W frame.
DOT's capitalization has reached a fairly high mark of 9 billion USD, so I think it is difficult for the project to grow as quickly in a short time as the memecoin group. DOT's safe profit-taking zones will be important resistance points on the 1W frame including:
💵TP 1: 12 USD
💵TP 2: 24 – 36 USD.
