Polkadot has been facing tough market conditions, struggling to move past key resistance levels. Investors are concerned about possible further price declines or a potential recovery.

How has the Polkadot (DOT) Price Moved Recently?

As of today, Polkadot (DOT) is priced at $4.12, with a 24-hour trading volume of $261.49 million and a market cap of $6.18 billion, holding a market dominance of 0.29%. The DOT price has dipped by 1.87% in the last 24 hours. Its all-time high was $54.98 in November 2021, with the lowest drop to $3.59 followed by a recovery to $11.86. Market sentiment remains bearish.

Why Polkadot (DOT) Price is Down?

The recent dip in Polkadot's price is attributed to various technical and market-driven factors. Despite a 25% increase in on-chain activity since May 2023, this has not translated into a stable price increase, indicating a disconnect between network usage and market sentiment. DOT is fluctuating between the $4 support and $5 resistance levels. Breaking the $4 support could lead to a drop to $3.62, signaling a possible longer-term downtrend.

Polkadot Price Prediction: Will DOT Price Crash to 0?

It is unlikely that DOT will crash to zero due to its current performance and market indicators. DOT has shown 1% growth over the last year, maintaining stability amidst market volatility. Its high liquidity and significant buyer interest suggest resilience. However, a 92% fall from its all-time high and a 51.85% yearly inflation rate could exert market pressure if demand doesn't match supply.

Given the current market conditions, Polkadot's price is expected to remain volatile. A complete crash to zero is unlikely due to the $4 support and positive network metrics; however, macroeconomic factors and broader crypto trends will play a crucial role in its price evolution.