DOT is about to win Dogecoin’s spot in the top 10 as Polkadot’s social dominance grows
Crypto analysis agency Santiment shared a new insight it has seen in social indicators from the Polkadot project. As per the comments of the portal, the multi-chain protocol is now experiencing the most positive rates of crowd sentiment on its account since January 2021.
In addition, there is a strong increase in the values of social volume and Polkadot dominance, which is the result of the active discussion of the project on the social network.
I #polka dot There has been a high level of positive sentiment this week, with the buzz rate picking up in the last 24 hours. Second fastest growing property at a remarkable rate #github Submissions are down 86% since November 4th #all time high, https://t.co/Eh8P80kT8K pic.twitter.com/VyiKpt5YEa— sentiment (@santimentfeed) 24 August 2022
At the same time, the last more or less vigorous event around Polkadot and the “ring” of parachines surrounding it can be considered a return by the Akala development team, about 3 billion US dollars stolen as a result of exploitation. Of course, its reputation has suffered, but at least they cleaned up after themselves.
Why should DOGE be concerned?
At the moment, Polkadot ranks eleventh among the top 100 largest cryptocurrencies by capitalization with an indicator of $8.53 billion, according to a report by CoinMarketCap. Thus, DOT is only $500 million less than Dogecoin’s symbolic 10tb space.
That said, given the level of positivity surrounding Polkadot, as well as the project’s famously strong fundamentals, it can be assumed that in the near future, the project will have the potential to close the gap and possibly displace DOGE from its peak. Every chance is there.