Polkadot Price Prediction: Is DOT About to Rally Toward $15 Soon?

TL;DR

• The price of Polkadot (DOT) was predict to surpass the $15 mark.
• Not long ago, Polkadot garnered attention for its high development activity and support from a prominent venture capital firm.

An 80% Price Rally on the Horizon?

DOT is currently the 15th largest cryptocurrency, with a market capitalization of almost $12 billion. Like many other cryptocurrencies, it has a long way to go before its all-time high of over $50, but it’s been on a positive trajectory lately.

Nonetheless, prominent analysts remain certain that DOT will take off impressively in the following months based on factors like the overall bull run in the digital asset sector, the fundamentals of Polkadot, and more.

Well-known trader and analyst CRYTPOWZRD recently outlined a highly bullish forecast, suggesting that the asset’s price is poised for a “volcanic eruption brewing.” In their view, DOT’s valuation could soar by 80% in the next few months should it surpass the major resistance zone of $9.60.

The crypto content creator and investor Jake Gagain was even more bullish, predicting that the asset may rise to almost a new all-time high next year. 

Previous DOT Predictions and Achievements

Last month, Electric Capital — a venture capital firm based in California that focuses on cryptocurrency, blockchain, and fintech — advised investors to put DOT on their watchlist during this bull cycle. The company praised Polkadot’s “army of full-time developers,” whose number has increased substantially in the last three years.

“The Polkadot connection may not always be clear or heavily promoted, but the network helps programmers make the most out of many different crypto systems. It’ll be the silent force that holds the Web3 revolution together at the seams,” it added.

Earlier this year, Polkadot’s token topped a prestigious ranking, surpassing leading cryptocurrencies such as Ethereum (ETH). As CryptoPotato reported, DOT was among the top 10 crypto assets by development activity, with notable GitHub commits at the end of January (on a monthly scale). Kusama (KSM) ranked second, while Cardano’s ADA rounded up the top 3 list.