Polkadot's Native Token, DOT, Is Anticipated to Undergo a Bull Run

Polkadot's native token, DOT, is presently priced at approximately $7.20, indicating a slight 2% weekly increase, according to CryptoPotato. This is despite the recent surge in the cryptocurrency market. Analysts, such as Michael van de Poppe and Crypto Thanos, anticipate a prospective bull run for DOT, with targets as high as $17. This prediction is motivated by fundamental growth, enhanced use cases, and advancements in AI and gaming.

Despite the recent surge in the cryptocurrency market, DOT has not achieved the same level of growth as the majority of the top assets. Nevertheless, a significant number of reputable analysts are optimistic that DOT has not yet experienced a bull market. For instance, Michael van de Poppe asserted that the coin is experiencing substantial fundamental development. He anticipates a 130% increase in value to $17, arguing that the current moment is ideal for investors to invest in DOT's ecosystem. Nevertheless, he emphasized that the price must initially surmount the critical resistance at $9.30.

Crypto Thanos and il Capo of Crypto also provided their predictions. Crypto Thanos presumpted that DOT is still in the accumulation range and is enhancing their use cases on a daily basis. The analyst has high expectations for it due to a variety of fundamentals, including the radical transformation of the token's use, the replacement of the outdated parachain auction model, and the reduction of inflation through the burning of fees. Il Capo of Crypto contended that DOT is establishing a new favorable trend and is leading the way among main blockchains in the advancement of Artificial Intelligence (AI) and gaming. It guarantees secure data transfers, decentralized processing for AI, and seamless asset integration in gaming, all while enhancing security and governance.

Block Diversity and Altcoin Sherpa are among the analysts who have addressed the issue in the past few weeks. DOT's price is expected to rise as long as it remains above $6.90, according to the former. Altcoin Sherpa anticipated a bull run; however, they asserted that DOT would be unable to surpass the market as a whole. Consequently, they believe that it is prudent to dispose of their holdings during the subsequent surge. The Relative Strength Index (RSI) is a critical on-chain indicator that indicates that the asset's price has not yet experienced a significant increase. It is typically employed to identify overbought or oversold conditions in a market and has a range of 0 to 100. DOT may be on the brink of a correction if the ratio exceeds 70. Since May 22, the most recent data indicates that the RSI has been below that threshold.