Altcoins
Bullish Polkadot (DOT) Analyst Predicts $17 Price Target for March
Polkadot (DOT) is gaining positive momentum and could be poised for a significant price rise, according to crypto analysts.
Subject matter expert Michaël van de Poppe identified encouraging market dynamics for Polkadot, suggesting a potential upward trajectory in the coming days or weeks.
Peas Analyst Outlook: A promising dynamic
According to Van de Poppe, Polkadot on the USDT pair showed a steady trend of higher highs and higher lows, suggesting an increase in bullish momentum. He also pointed out that Polkadot’s Bitcoin pair is still around a cyclical low, indicating a possible trend reversal. Van de Poppe speculated that Polkadot could return to its peak in the coming months based on these facts.
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#Peas is starting to gain positive momentum as it makes higher highs and lower lows on the USDT pair.
The BTC pair is still at cycle lows, indicating a likely rise on the horizon.
Maybe $POINT could reach a record level in the coming months. pic.twitter.com/dewBRJO9dO
– Michaël van de Poppe (@CryptoMichNL) March 17, 2024
At the time of writing this article, Polkadot’s the price is $9.26with a 24-hour trading volume of $1.24 billion and a market capitalization of just over $9 billion.
DOT price up in the last 24 hours. Source: Coingecko
Cryptocurrency experts have been closely monitoring Polkadot’s price fluctuations since the start of 2023. Based on historical data and market trends, these analysts predict an average DOT rate of $13.70 by March 2024.
Total crypto market cap. Chart: TradingView
However, they recognize a range of potential outcomes, with minimum and maximum price estimates amounting to $10 and $17, respectively.
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From now on @Pois @kusamanetwork and 6 at the top #parachains are now live on Dune!
Our mission is to make crypto data accessible and we are excited to help the #Peas ecosystem in partnership with @colorfulnotion ⚡
Start your data journey👇 https://t.co/mMs4iO9w96
-Dune (@DuneAnalytics) March 19, 2024
Blockchain data accessibility revolutionized
Meanwhile, in a move that promises to revolutionize crypto data analysis for Polkadot and Kusama, Dune Analytics has announced a groundbreaking partnership with Colorful Notion. This collaboration marks a significant step forward in accessibility, putting a wealth of on-chain data from these blockchains at the fingertips of Dune users for the first time ever.
Previously, analyzing on-chain activity within the Polkadot and Kusama ecosystems was challenging. However, this partnership gives users the ability to examine a rich pool of data, including data tables of decoded substrate blocks, extrinsics, calls, events and transfers.
This integration represents a crucial step toward demystifying the complexities of blockchain data within the Polkadot ecosystem. By making this information easily accessible and enabling user-friendly analysis tools, the partnership between Dune Analytics and Colorful Notion has immense potential for developers, researchers, and anyone with a vested interest in understanding the health and activity of the Polkadot network.
Featured image from Pexels, chart from TradingView