According to CryptoPotato, despite a recent 14% decline in value, Polkadot (DOT) is predicted to rally in the near future. The potential bull run is dependent on technical advancements and the ability to overcome certain support zones. The blockchain protocol has seen numerous developments recently, attracting the attention of many industry participants. However, its native cryptocurrency, DOT, has underperformed in the past month, registering a 14% decline and currently trading at around $7.
An analyst known as Dippy.eth has praised Polkadot's recent progress and outlined a bullish prediction for the token. They described DOT as a 'sleeping giant' that is ready to explode by 60% in the short term and much more substantially in the long run. They suggested that accumulating on dips could be a good strategy as DOT could be seeing new highs when the altseason fully commences.
Other analysts who foresee a bright future for DOT's valuation include CRYPTOWZRD and Jake Gagain. CRYPTOWZRD believes the asset is poised for a 'volcanic eruption brewing' should it surpass the important resistance zone of $9.60, while Gagain predicted a new all-time high sometime in 2025. Michael van de Poppe, an analyst with over 700,000 followers, was even more bullish. He highlighted Polkadot's 'fundamental progress' over the years and jumped on the DOT bandwagon as an investor. He recently described himself as a fan of the blockchain protocol, reminding about some essential Polkadot advancements such as the release of the Join-Accumulate Machine (JAM) Gray Paper. He added that the JAM integration will aim to increase the output to potentially hundreds of thousands of times more than the EVM of Ethereum.