{"id":18359,"date":"2023-02-24T23:14:42","date_gmt":"2023-02-24T23:14:42","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/02\/24\/will-polkadot-dot-price-plummet-to-5-or-skyrocket-beyond-7\/"},"modified":"2023-02-24T23:14:42","modified_gmt":"2023-02-24T23:14:42","slug":"will-polkadot-dot-price-plummet-to-5-or-skyrocket-beyond-7","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/02\/24\/will-polkadot-dot-price-plummet-to-5-or-skyrocket-beyond-7\/","title":{"rendered":"Will Polkadot (DOT) Price Plummet to $5 or Skyrocket Beyond $7?"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><iframe loading=\"lazy\" src=\"https:\/\/coingape.com\/polkadot-dot-price-plummet-or-skyrocket\/about:blank\" width=\"320\" height=\"100\" marginwidth=\"0\" marginheight=\"0\" hspace=\"0\" vspace=\"0\" frameborder=\"0\" scrolling=\"no\" data-rocket-lazyload=\"fitvidscompatible\" data-lazy-src=\"https:\/\/servedbyadbutler.com\/adserve\/;ID=180936;size=320x100;setID=508113;type=iframe;click=CLICK_MACRO_PLACEHOLDER\"><br \/>\n<\/iframe><noscript><iframe loading=\"lazy\" src=\"https:\/\/servedbyadbutler.com\/adserve\/;ID=180936;size=320x100;setID=508113;type=iframe;click=CLICK_MACRO_PLACEHOLDER\" width=\"320\" height=\"100\" marginwidth=\"0\" marginheight=\"0\" hspace=\"0\" vspace=\"0\" frameborder=\"0\" scrolling=\"no\"><br \/>\n<\/iframe><\/noscript>\n<\/p>\n<p>Since the center of the summer time of 2022, <a href=\"https:\/\/coingape.com\/blog\/what-is-polkadot-and-why-is-it-so-popular\/\">Polkadot (DOT)<\/a> has been in a downtrend, and it has been much more impacted by the <a href=\"https:\/\/coingape.com\/glossary\/bear-market-2\/\">bear market<\/a> than the vast majority of the opposite high <a href=\"https:\/\/coingape.com\/glossary\/altcoins\/\">altcoins<\/a> which can be at the moment in the marketplace. However, the flagship <a href=\"https:\/\/coingape.com\/glossary\/cryptocurrency\/\">cryptocurrency<\/a>, spearheaded by Gavin Wood, has seen some respectable rallies this new 12 months.<\/p>\n<h2>New Polkadot Developments<\/h2>\n<p>Polkadot, which describes itself as a community that permits <a href=\"https:\/\/coingape.com\/glossary\/blockchain\/\">blockchains<\/a> to talk with each other &amp; conduct transactions with out the necessity for a 3rd occasion, is getting <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/Polkadot\/status\/1629098815394381824\">ready<\/a> for its roster of occasions at ETH Denver 2023. The Polkadot group has deliberate a BUIDLing summit convention program, and group facet occasions to happen between the twenty eighth of February and the fifth of March.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<p><em><strong>Read More:<\/strong>\u00a0<a href=\"https:\/\/coingape.com\/defi-lending-platforms\/\" target=\"_blank\" rel=\"noopener\">Check Out The Top 10 DeFi Lending Platforms Of 2023<\/a><\/em><\/p>\n<p>Polkadot has additionally been performing nicely when it comes to growth exercise. The cryptocurrency reportedly set the tempo for appreciable growth exercise over the course of the previous month, as acknowledged in a examine that was simply printed by the market intelligence platform Santiment. The software appeared on the variety of contributions made on the GitHub platform to gauge the extent of developer exercise throughout completely different blockchain networks.<\/p>\n<p>However, when it comes to the worth proposition of its native <a href=\"https:\/\/coingape.com\/glossary\/token\/\">token<\/a>, DOT is at the moment experiencing a short-term upward development that started in January of 2023. The <a href=\"https:\/\/coingape.com\/price\/polkadot\/\" target=\"_blank\" rel=\"noopener\">price of Polkadot (DOT)<\/a>, which is now buying and selling in an ascending channel, not too long ago examined the higher trendline as resistance at $7.74.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<h2>Polkadot (DOT) Price Action<\/h2>\n<p>Even although DOT has skilled some weariness on Friday\u2013declining by over 7% at one level\u2013the impact was extensively felt all through the <a href=\"https:\/\/coingape.com\/markets\/\">crypto market<\/a>, impacting main belongings reminiscent of <a href=\"https:\/\/coingape.com\/glossary\/bitcoin\/\">Bitcoin (BTC)<\/a> and <a href=\"https:\/\/coingape.com\/tag\/Ethereum\/\">Ethereum (ETH)<\/a> as nicely. This was due to the rising concern relating to rising <a href=\"https:\/\/coingape.com\/education\/what-is-inflation-what-causes-it-and-its-effects-4-examples-of-inflation\/\">inflation<\/a> which bought highlighted by the discharge of the <a href=\"https:\/\/coingape.com\/us-core-pce-inflation-surges-interest-rate-hikes\/\">U.S. PCE data<\/a> by the Bureau of Economic Analysis.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<p>Moreover, even supposing there are trade specialists and analysts who consider that the token would almost definitely rebound to the higher trendline and break above $7.74, the bullish thesis is perhaps rendered invalid if the worth falls under the three exponential <a href=\"https:\/\/coingape.com\/glossary\/macd-moving-average-convergence-divergnece\/\">moving averages<\/a> (EMAs). A downward projection of $6 or even decrease at $5.5 might end result from this.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-140414 size-full\" alt=\"Polkadot (DOT) Price\" width=\"906\" height=\"644\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/02\/25025514\/Screenshot-2023-02-25-025504.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-140414 size-full\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/02\/25025514\/Screenshot-2023-02-25-025504.png\" alt=\"Polkadot (DOT) Price\" width=\"906\" height=\"644\"\/><\/noscript><\/p>\n<p>As issues at the moment stand, the worth of Polkadot (DOT) is at the moment buying and selling at $6.64 which represents a lower of seven.60% over the previous 24 hours, in distinction to a decline of 10.46% over the past seven days, in accordance to CoinGape\u2019s crypto market tracker.<\/p>\n<p><em><strong>Also Read:\u00a0<\/strong><a title=\"New AI Product Sparks Optimism For Hedera; Is HBAR Price Eyeing $1?\" href=\"https:\/\/coingape.com\/hbar-crypto-news-hedera-price-ai-app\/\" target=\"_blank\" rel=\"bookmark noopener\">New AI Product Sparks Optimism For Hedera; Is HBAR Price Eyeing $1?<\/a><\/em><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA140409\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Pratik has been a crypto evangelist since 2016 &amp; been via nearly all that crypto has to provide. Be it the ICO increase, bear markets of 2018, Bitcoin halving to until now &#8211; he has seen all of it.                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/5cf0f64b0c7425fc4b6ea3fbbbde702c?s=400&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" src=\"https:\/\/secure.gravatar.com\/avatar\/5cf0f64b0c7425fc4b6ea3fbbbde702c?s=200&amp;d=mm&amp;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/5cf0f64b0c7425fc4b6ea3fbbbde702c?s=200&amp;d=mm&amp;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/5cf0f64b0c7425fc4b6ea3fbbbde702c?s=400&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD140409\">\n<p>  The introduced content material might embody the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn&#8217;t maintain any accountability to your private monetary loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/coingape.com\/polkadot-dot-price-plummet-or-skyrocket\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Since the center of the summer time of 2022, Polkadot (DOT) has been in a downtrend, and it has been much more impacted by the bear market than the vast majority of the opposite high altcoins which can be at the moment in the marketplace. However, the flagship cryptocurrency, spearheaded by Gavin Wood, has 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