🚨🚨🚀 Today Update DOT 🚀🚨🚨
🚨🚀🚀Polkadot (DOT) Price Increase: Why?
Polkadot is becoming more and more popular, as is its development activities. Millions of transactions every day are being fueled by the advent of Snowbridge, which makes it easier to transmit data between Polkadot and other blockchains.
Memes and dotordinals based on Polkadot are generating attention. Polkadot's game-fit and decentralized finance (DeFi) scenes are booming, as seen by the rising trend of all important indicators. As developers continue to create new projects, there is a lot of positive opinion regarding Polkadot's future on cryptocurrency social media. Polkadot is a "multicore supercomputer warming up," according to Pap, and it's about to get more notice.
It's evident that as Polkadot's ecosystem grows, user involvement and activity are increasing. This increasing usage indicates that there is more space for DOT to operate and helps to justify the recent price increases.
Rekt Capital, an elite cryptocurrency analyst, also highlights Polkadot's climb, with prices up 79% since his call on December 11th, indicating that a further leap to 100% returns is anticipated shortly.
Technically speaking, Polkadot's relative strength index (RSI) is currently 72 on a daily basis. The momentum indicator known as RSI calculates the rate and speed at which the price of an asset moves. An asset is often overbought, having gained too much too quickly, and is due for a correction when the reading is 70 or above.
This is consistent with previous highs reached by DOT this year on November 20 and December 10, when the company also reached RSI levels over 70 before experiencing brief market declines.
In conclusion, Polkadot has been performing quite well these past few weeks, which appears to be fueled by a combination of favorable fundamentals and technicals as well as market enthusiasm. While a short-term pause would not be shocking, the long-term picture is still highly optimistic.
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