According to CryptoPotato, despite Polkadot (DOT)’s recent 14% drop and current price of around $7, some analysts believe that DOT has huge upside potential in the future. This potential bull run depends on technical progress and breaking through certain support areas.
Blockchain protocol Polkadot has been going through a lot of developments recently, attracting the attention of many industry players. Despite these advances, its cryptocurrency DOT has performed poorly over the past month, falling 14% and currently trading at around $7.
X user Dippy.eth praised Polkadot’s recent progress and came up with a bullish prediction for the token. He further described DOT as a “sleeping giant” that is ready to explode by 60% in the short term and surge in the long term.
Other analysts predicting a bright future for DOT include CRYPTOWZRD and Jake Gagain. The former believes that if the asset can break through the important resistance zone of $9.60, it has the potential to "erupt." The latter predicts a new all-time high price sometime in 2025. X user Michael van de Poppe, who has more than 700,000 followers, is even more bullish. He highlighted the "fundamental progress" of Polkadot over the years and joined the ranks of DOT as an investor.
