Polkadot (DOT) crypto is an open-source shared multichain protocol. It allows cross-chain transfer of any data or asset types, allowing blockchains to be interoperable with each other.
Moreover, it is designed to provide a foundation for a decentralized internet of blockchains, also known as Web3. Polkadot (DOT) is known as a Layer-0 meta protocol because it underlies and describes a format for a network of Layer-1 blockchains known as parachains (parallel chains).
Polkadot crypto observed a bullish surge in recent sessions. The price has managed to reach the recent swing high rising after forming a new swing low. It indicates the presence of bulls at the lower levels.
It has a 24-hour trading volume of $227.42 Million with a rise of 38.36% as compared to the previous day. The live market cap of Polkadot is $6.79 Billion and it ranks 15th among the top cryptos. The volume-to-market cap ratio is 3.33% indicating very low volatility in the market.
Polkadot Price Prediction November 2023
The technical indicators imply a bullish outlook as of now. The price has surpassed the 50-day and 200-day EMA which might turn to a support level if the price declines. At press time, the MACD lines show a bullish cross and hover above the mean line signaling strength.
The price prediction for November 2023 suggests a neutral to bullish outlook. The price may keep gaining until the bulls hold control of the trend. The analysts estimate that the DOT price may reach a high of $6.15 by the end of November.
Polkadot Price Prediction 2023
The most optimistic price forecast of the analysts expects the DOT price may reach a high of $7.20 signifying an upside potential of 32.97% from the CMP. The minimum price that Polkadot could reach is $4.91.
Polkadot Price Prediction 2024
As per analysts, the most optimistic target that the Polkadot price may achieve is $9.44, indicating an upside potential of 73.39% from the CMP. The average analyst price target is $7.63 by the end of 2024. However, the pessimistic view of analysts estimated the price to reach $6.17.
Polkadot Price Prediction 2025
The most optimistic analyst forecast for Polkadot crypto expects the price to reach a high of $13.19 with a potential gain of 142.58% from the CMP. The minimum forecasted price by the end of 2025 is $8.25. The average predicted price till 2025 is $11.85.
Polkadot Price Prediction 2026
The DOT price may reach a high of $18.57 if a positive trend prevails for the crypto market. On the flip side, the most pessimistic view of the analysts expects the price to reach $12.90 by 2026.
Polkadot Price Prediction 2027
According to the analysts’ price prediction for the year 2027, the most optimistic view of analysts is the price target of $23.01. The average analysts’ price target is $19.4 and the minimum price target is $17.52.
Polkadot Price Prediction 2028
Till the year 2028, the crypto market may get more exposure and evolve more. On an optimistic note, the Polkadot price may advance to a high of $28.88. The price may rise to a minimum of $22.7 by the end of 2028.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
Source: https://www.thecoinrepublic.com/2023/11/20/polkadot-price-prediction-are-bulls-optimistic-in-dot/