DOT Bull Run to $20 on the Horizon? Analyst Gives Positive Polkadot Price Prediction for 2024

TL;DR

• Despite a recent 20% drop in price, analysts predict a significant uptrend for Polkadot (DOT), with forecasts suggesting it could reach new highs in the coming months.
• The team behind the blockchain protocol recently introduced “Ambassador Program 2.0” to foster community involvement.

The Latest DOT Predictions

The 15th largest cryptocurrency by market capitalization – Polkadot (DOT) – has been on a downtrend in the past month, witnessing a price decline of around 20%. Currently, the asset hovers the $8.50 mark but some analysts think a substantial uptick could be on the horizon.

One example is the X user, using the handle CryptoYoddha, who  predicted that DOT might reach a two-year high of $20 this summer. The analyst added, “Most alts are waiting to pump from their higher lows.”

Other bullish forecasts include those from the well-known trader CRYTPOWZRD and the crypto content creator Jake Gagain.

The former suggested that DOT is poised for a “volcanic eruption brewing” should it surpass the important resistance zone of $9.60. Once that happens, the path looks clear for a peak of $15, the analyst claimed.

Jake Gagain was even more optimistic, forecasting that DOT could tap a new all-time high sometime next year. Other Polkadot price predictions have also generally been bullish, given the current market momentum. 

Polkadot’s Recent Achievements

The native token of the blockchain protocol made the headlines earlier this year by  topping  a prestigious ranking and surpassing leading cryptocurrencies such as Ethereum (ETH) in terms of development activity.

Most recently, Polkadot announced its “Ambassador Program 2.0:” an initiative designed to support and integrate individuals into the community. 

📢 Announcing the Ambassador Program 2.0!

The new and improved program will be the fifth on-chain collective on Polkadot 🙌

Tune in to learn from @zoemcfox and @OliverTaleYazdi about the changes, how to apply, and why the program is moving on-chain. pic.twitter.com/oAZwr577yC

— Polkadot (@Polkadot) April 10, 2024

This post is powered by Polkadot.