Polkadot (DOT) coin achieves new ATH – Crosses $50

By November 2, 2021Polkadot
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The native token of Polkadot is DOT. At the time of writing DOT stands at a price of $53.28 with an increase of 18.79% in a single day. DOT has been one of the most bullish coins in the top 100. Higher time frames like most of the coins, DOT has had an amazing. Q4 just like many other coins have been bullish for DOT. With Parachain auctions around the corner, we can expect it to go even higher. DOT had achieved its all-time high at a price of almost $53.30 today (November 2nd, 2021). DOT on coinmarketcap is listed at 8h rank. It has a market dominance of about 1.93%. The daily trading volume is around $5,322,836,538 with an increase of 250.32% in the last 24 hours. The total supply is around 1.1B while the circulating supply is around 987M DOT.

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Technical Analysis Polkadot (DOT)

DOT has been one of the most looked after coin. The way Polkadot ecosystem will be one of the biggest, it surely is going to bag big prices.

On the monthly time frame we can see that DOT has now broken its previous all time high. The price is consolidating above $50. On the weekly time frame DOT has regained the bullish market structure.

On the daily time frame we can see that DOT has reacted the same way as BTC and has formed a similar pattern. The price has rejected and even though is now consolidating. I wouldn’t be surprised for DOT to go down a level to grab liquidity, even if it is just a fast wick down. It would be healthy for the market to create a higher support so that DOT can go for another higher leg up.

Long Term Price Prediction

According to walletinvestor.com this coin is a good investment in virtual currencies with good return. Seeing the price of DOT at the moment, they believe that that the value might increase from $53.28 to $72.186 in a single year. With a 5 year investment plan the price of DOT is expected to reach a value of $187.112. Traders on the other hand consider this estimation as very small and expect the price to go even higher than this.

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