Will Polkadot (DOT) Reach $100?
Polkadot (DOT) has had an interesting year, but can it reach $100? It’s possible, when can we expect the token to hit this all-important milestone?
Well, after the maddening price rally in the first five months of the year that saw Polkadot hit previously unimaginable levels, the crypto community is convinced that DOT has what it takes to reach $100.
For instance, the constantly updated Polkadot price prediction by Gov.Capital indicates that DOT may breach the $100 target price as early as August 2022.
But price rally isn’t the only thing making analysts believe DOT is poised for an eventual price jump. Others include the fact that it has been proven to have one of the fastest-growing crypto communities and developer pools.
So, are these enough to drive DOT prices above $100 and possibly $500? Importantly, what will Polkadot be worth in 2025?
We answer these questions hereinbelow. First, though, we take a look at its current value and past price performance. Read on.
Polkadot (DOT) Current Price
At the time of writing, Polkadot is trading at $14.92 on Coindesk and has been caught in a range of between $$14.71 and $$17.97 for the past seven days. It has lost about 5% in the last 24 hours and more than 68% from its all-time high price of $49.80 hit on 15th May 2021. The token is currently ranked 9th on CoinMarketCap’s ranking of largest cryptocurrencies with a live market capitalization of $$15 Billion with a circulating supply of 957.64 Million DOT coins.
Interestingly, though, Polkadot was one of the late entrants into the 2021 crypto craze that shows different cryptocurrencies led by Bitcoin rise to unprecedented heights. As most coins started rallying as early as September 2020, Polkadot did not muster enough force to inspire a proper breakout until the first week of January.
But inspired by increased developer activity on the Polkadot blockchain, Ethereum’s (its biggest competitor price run), and overall crypto market rally, DOT prices picked pace after January and only dropped after the market-wide crash on 19th May.
Today, DOT prices are stuck in a dip. But looking at its revolutionary technology and recent price jump, experts are convinced that the coin may be setting the base for the next rally.
But how fast can DOT prices rise again, and can they reach $100?
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So, Will Polkadot (DOT) Reach $100?
Crypto experts and DOT investors are convinced that Polkadot is one price rally away from breaking above $100. At the height of the January to May price run, for instance, most expected DOT to reach this target price before the end of the year or early 2022. Today, they are still confident that DOT will eventually reach $100, but they are sharply divided on how long it will take to get there.
For instance, CryptocurrencyPricePrediction.com, which uses technical analysis to estimate future prices for different digital currencies, has one of the most optimistic views of DOT’s future prices. It indicates that DOT will break above its current all-time high in the next three months and reach $100 in early March 2022.
Crypto analysts at Coinpedia are also convinced that Polkadot will rise again and break above $100. But they can only see it hitting this target over the next few years. And they are confident that much of this growth will be driven by such on-chain collaborations as perpetual contracts with exchanges and prominent blockchains. Their analysis suggests that Polkadot may break above the current all-time high before the end of 2022 and continue extending this value appreciation to between $101 and $126 by the end of 2025.
Different crypto market watchers and DOT investors have also put forward their overall bullish price predictions for Polkadot. Some have even gone ahead and claimed that the altcoin has what it takes to eventually trample Ethereum.
But, the rosy predictions and past price action notwithstanding, what does Polkadot’s design and sustainability say about its ability to eventually reach $100?
Well, for starters, Polkadot has a maximum supply of 1 Billion DOT coins. Getting to $100, therefore, only raises its market by $100 Billion - about 7% of the total crypto industry market cap and less than half of Ethereum’s current market cap. This says that unlike other top 10 cryptocurrencies like Dogecoin, whose large maximum supply limits their upward movement, DOT can rise well past $100 and still maintain a realistic total valuation.
Further, Polkadot also has one of the fastest-rising developer communities. The blockchain has, for instance, more than doubled its developer community in the last 12 months. During this time, it has reported a faster developer onboarding rate than Ethereum or all other perceived “Ethereum Killers,” especially Cardano or Filecoin.
We have seen that both the maximum factors don’t limit DOT’s upward growth and that its fast-paced network growth encourages a jump towards $500. But are they enough to get it to $500?
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Will Polkadot (DOT) Eventually Reach $500?
There is a high chance that after breaking above $100, Polkadot prices will continue rising and possibly reach $500. But given the indecisiveness and FUD that has currently gripped the market at the moment, analysts can only expect it to reach this new target price at some point between 2025 and 2030, or even later.
The Wallet Investor, for instance, estimates that DOT prices will most likely rise to $225.70 by July 2026. And given the rate at which the price forecasting website expects DOT prices to grow over the next 5 years, we can safely assume that it will hit $500 before 2030 if it maintains this pace.
The highly bullish technical analysis report by CryptocurrencyPricePrediction.com, however, indicates that DOT prices may reach $500 well before 2030. It estimates that Polkadot will end the year 2023 trading at $344, break above $500 some time in mid-2024 and start the year 2025 trading at $705.
In addition to the fast-paced growth of Polkadot blockchain’s developer pool and linkages with exchanges and blockchains, there are a few other factors that experts believe will help push DOT prices past $500. These include a sustained Defi explosion seeing that most protocols may bridge to its network for improved performance.
Others include the industry’s overall performance and the direction that the crypto market assumes, as well as possible mainstream adoption as an Ethereum blockchain alternative by both on-chain and off-chains brands looking for a mix of low gas fees, better performance, and eth-like security.
What Will Polkadot (DOT) be Worth in 2025?
Forecasting the future price of a cryptocurrency as volatile and unpredictable as Polkadot can be quite difficult. Nevertheless, looking at its past price action, the internal and external factors with the greatest influence on its price action and crypto market trends, it seems obvious to us that DOT prices will be way higher in 2025 than they are today.
Technical analysis by DigicalCoinPrice.com confirms our theory when the forecasting website indicates that DOT may rise to around $54 in the course of 2025 and end the year trading at around $50.
Conclusion: Will Polkadot (DOT) Reach $100?
The crypto community is convinced that Polkadot has what it takes to reach $100 in the short term and $500 in the medium-to-long term. Before the May 2021 market crash, they expected the coin to reach $100 before the end of the year and hit $500 before 2025. Today, they have extended these timelines and now believe that DOT prices will reach $100 by 2015 - or sooner if the crypto industry can shake off the FUD that has kept crypto prices trapped in a dip for close to two months now.
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