Polkadot (DOT) Forecast: Will Polkadot Reach $500?
Will Polkadot (DOT) tokens eventually reach $500? If yes, when?
These are some of the most common questions flooding our email, and the simple answer is, YES, it is highly likely that Polkadot tokens will eventually reach $500. In fact, at the height of the early 2021 crypto market rally, most analysts had predicted that DOT tokens would reach $500 within the next 5 years. However, now that the market has crashed, most have adjusted their predictions and now believe that it may reach this target price at the turn of the decade.
Dubbed the “Ethereum Killer,” Polkadot has been around for less than a year, during which it showed that it has all it takes to reach $500 and beyond. In less than nine months, it moves a new and unknown altcoin to the 9th largest cryptocurrency project by market cap on CoinMarketCap. It also scored highly on the list of fastest-growing blockchains and onboarded a significant number of experts to its developer pool.
So, when will it reach $500?
When Will Polkadot (DOT) Reach $500?
There is an overwhelming level of confidence in Polkadot’s future as both investors and analysts express their confidence in the DOT altcoin, but they just cat agree on when it will probably reach $500. A few believe that Polkadot has the potential of reaching $500 within the next 5 years. But a majority believe that the recent market crisis and the current dip have disrupted its price path and can only see DOT prices getting here towards the end of the decade.
Technical analysis of DOT token’s future by the Wallet Investor, for instance, indicates Polkadot’s value may rise by more than 364.68% over the next 5 years to reach $193.262 in the next five years. The website doesn’t offer a 10 year DOT token price forecast but assuming that it sustains this rate of growth after 2026, Polkadot could be expected to reach $500 at some time in 2027 or 2028.
Crypto market analysts at Cryptopolitan are nevertheless confident that the market will rebound again and that Polkadot will escape the dip. They base their hugely bullish prediction on the warm welcome that the Polkadot blockchain and DOT tokens have been received with, as well as its innovative approach to the interoperability of the blockchain network. By the end of 2025, these experts expect DOT tokens to be trading well above $500.
But how feasible is the race towards this target price?
There are no material hindrances to an unimaginable upward price jump. For instance, there currently are only 1 Billion DOT tokens, which should be enough to create a supply squeeze and push the altcoin prices up when its demand increases.
Similarly, its price is driven by such tangible factors as demand and adoption. These are expected to continue working in tandem to push DOT token prices and help it reach $500 in the near future.
Read Also: Is Polkadot (DOT) Worth Buying
What Will Happen if Polkadot (DOT) Reaches $500?
When Polkadot token prices eventually reach $500, there will be multiple notable changes to the network, and their ripple effect will be felt within the DOT network and across the entire blockchain industry.
The most noticeable effects of the price of Polkadot jump will include:
- Grow its market cap exponentially: With a maximum supply of 1 Billion DOT tokens, getting to $500 would mean growing the Polkadot network’s market capitalization by 3800% to reach $500 Billion. This is twice the current Ethereum valuation.
- Eat into Ethereum’s market share: To get to $500, Polkadot will have to draw in a lot of developers to launch on its program and investors to invest in its DOT tokens. And while there certainly will be new developers and investors drawn in by Polkadot, analysts expect most of the blockchain’s early adopters and investors to come from within the crypto community - with a majority leaving the more rigid Ethereum for newer and more versatile DOT community.
- Cement its position among the top 5 cryptocurrencies: A $48 Billion market cap has made Polkadot the 8th largest cryptocurrency project in the world today. A $500 valuation will certainly help it make it to the top 5 - possibly 3 - cryptocurrencies. It could even help Polkadot overthrow Ethereum as the second-largest cryptocurrency.
- Link the blockchain world: We have already mentioned that much of Polkadot token demand and price jump has been occasioned by the fast adoption of the Polkadot blockchain. By the time it gets to $500, the crypto community expects that it will have been hugely adopted by multiple blockchains, leaving behind a mash of linkages within the blockchain world.
Check Out: Will Polkadot (DOT) Make Me Rich?
Will Polkadot (DOT) Reach $100 in 2021?
If the current market conditions persist, it is highly likely that Polkadot will not reach $100 by the end of 2021. While analysis suggests that the coin may be well on its way to escaping the dip, it also indicates that this rebound will be slow and any upward growth measured.
The bottom line is that unlike in the first half of the year, where a rallying crypto market helped most Polkadot set an all-time high, there currently is no incentive to kickstart another Polkadot price rally.
A majority of the price prediction websites and crypto experts that we have consulted, however, believe that the coin is poised to break above its all-time high by the end of the year, which set it up for a run towards $100 sometime next year.
The most updated technical analysis report by Previsionibitcoin.it, for instance, expects that Polkadot will to end 2021 trading at $172.32, growing more than 3 times its all-time high.
Their sentiments are echoed by yet another technical analysis of DOT prices by CryptocurrencyPricePrediction.com. It estimates that Polkadot will begin its escape from the current dip in earnest and possibly break above its 2021 peak price in November when it sells for $59.60. By the end of the year, this analysis suggests that Polkadot will be trading at $88.51 and that it will only rise above $100 around February 2022.
Is Polkadot (DOT) a Good Investment?
Polkadot is a good investment because it currently is one of the fastest-growing blockchain technologies around and has made to the list of the most promising crypto technologies. Moving forward, Polkadot is expected to eat into Ethereum’s market share and grow its community and DOT tokens valuation.
Overall, the Polkadot token prices are expected to rebound and continue rising in the foreseeable future. Both fundamental and technical analysis suggests that it has high chances of rebounding soon and rising to $100 within the next few years. Some analysts are even confident that it will reach $500 within the next 5 years. All these go to show that Polkadot is a good investment and give investors a reason to buy the dip and hold on to the coin.
Conclusion: Will Polkadot (DOT) Reach $500
Well, there is an overwhelming optimism within the crypto industry that Polkadot will eventually reach $500. Analysts and DOT token investors are confident that the Ethereum killer has all it takes to push its valuation well above this target price. Note, however, that we might have to wait a little bit longer before Polkadot get here.
Less than two months ago, most analysts expected Polkadot to reach $500 within the next five years. Today, they are as optimistic about Polkadot’s chances of hitting this price level. Only that most can only see DOT token price reaching $500 towards the end of the decade.
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