Price Predictions

Polkadot Price Prediction Weekly (May 2022): DOT Price Could Remain Passive This Week With Less Volatility

DOT Price

Key Takeaways:

  • The Polkadot price closed the previous day’s trade at INR 858.26 with a market capitalization of INR 807.02 billion and a circulating supply of 987, 579,314.96 DOT
  • DOT price appears to have been stuck up just below the pivotal INR 1000 regions, and a break out from here may lead to a larger jump towards INR 1200 very soon
  • On the contrary, the recent rejection at INR 890 may also adversely impact the price that may remain restricted below INR 900 for some time

Polkadot Price Analysis:  Will DOT Price May Hit INR 1500 This Week of May?

The Polkadot price currently has reached the lows, from where it had ignited a strong bull run in January 2021. However, after losing almost 100% of its gains in the 2021 bull run, the price is unable to regain the same bullish momentum. And hence continues to accumulate below INR 1000 from the past week. 

Currently, a huge influx of buying volume has no doubt dragged the price from the drowning well but eventually failed to offer a significant push beyond INR 1000. Moreover, the volume remains depleted, indicating the consolidation to carry forward for some more time ahead, maybe until the weekly close. 

Check out the Latest Prices, Charts, and Data of  DOT/USDT.

Polkadot Price Prediction:  DOT Price Trend Comparison with AVAX (Last 30 Days)

DOT Price

Source: Tradingview

  • Polkadot and Avalanche, both appear to be poised to enter the top 10 crypto assets as per the market cap and hence both are expected to display a gigantic move
  • Both the assets, DOT and AVAX maintained a pretty similar trend with almost equal price variations from the beginning of April
  • However, after the recent market crash, the DOT price managed to sustain the trembled situation largely compared to that of the AVAX price.
  • Therefore, DOT/USDT price after dropping hard from 0 reached the bottom at -64.67% and currently hovering at -53.24%
  • On the other hand, AVAX price reached the bottom at -69.71% and quickly regained the levels around -64.36%

Additional Read: What Should Investors do during a Crypto Market Crash 

Correlation of DOT/USDT and DOT/BTC (Last 30 Days)

DOT Price

Source: Tradingview

  • Polkadot price in both the trading pairs witnessed a huge plunge ever since the beginning of April’s trade
  • Both the pairs, DOT/USDT and DOT/BTC no doubt tried a lot to flip from the bearish trend, but eventually dropped back and failed to carry forward the uptrend ignited. 
  • Currently, the DOT/USDT pair after dropping hard from the average levels at 0, visited -64.67% and with a flip managed to hover around -53.21% at the press time
  • While DOT/BTC also displayed a similar trend and dropped from the levels at 0 to as low as -39.20%, but currently trading around -25.80% 
  • Woefully, both the pairs are heading towards the south, paving way for the price to slash more in the upcoming days.

Check out the Latest Prices, Charts, and Data of  DOT/BTC.

Top Gainers & Losers of the Week

Top Gainers

Crypto Price* 7-Day Percentage Change
Kyber Network (KNC) INR 179.61 +25.29%
Chiliz (CHZ) INR 11.33 +17.38%
Civic (CVC) INR 15.81% +10.41%
MyNeighbourAlice (ALICE) INR 259.61 +10.32%

Top Losers

Crypto Price* 7-Day Percentage Change
Anchor Protocol (ANC) INR 10.09 -11.00%
Maker (MKR) INR 1,25,143.74 -7.35%
The Graph (GRT) INR 14.40% -6.69%
Mirror Protocol (MIR) INR 21.84 -6.31%

*Prices are of 02 May 2022 at the time of writing the article

What’s New on CoinDCX? New Coin Listings on CoinDCX App

Crypto Price*
Kava (KAVA) INR 207.58
STEPN (GMT) INR 129.41
Storj (STORJ) INR 47.50
JasmyCoin (JASMY) INR 1.12

*Prices are of 18 May 2022 at the time of writing the article.

Download CoinDCX App, India’s safest and simplest crypto investment app. 


Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to [email protected].

The above information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational & educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


 

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