TL;DR
Polkadot (DOT) has dropped 22% in value over the past week. Despite this, some traders look at it as an opportunity right now.
Analysts predict a significant rebound for the asset, with potential targets ranging from $20 this summer to near $47 next year.
The Right Moment to Invest in DOT?
Polkadot’s native token – DOT – has suffered painful losses during the latest crypto market decline, with its price nosediving by 22% on a seven-day scale. Earlier this week, the asset tumbled below the $6 mark for the first time since December 2023, while currently, it hovers at the $6.30 level (per CoinGecko’s data).
DOT Price, Source: CoinGecko
However, some analysts remain certain that DOT will overcome the challenges and rise to witness new peaks. One popular trader who outlined the token’s potential is the X user with hundreds of thousands of followers – Wolf of Altcoins.
The enthusiast placed DOT among the top cryptocurrencies worth buying at the moment. Other well-known a
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