TL;DR

Polkadot (DOT) has seen a recent 5% increase in price, with predictions from multiple analysts suggesting a potential rally that could elevate its value to $15 or even $20 by the end of next year. Some prominent traders also view the asset as a good investment at the moment.

Is DOT Ready for a 100% Rally?

Polkadots native cryptocurrency DOT has recently entered green territory, with its price jumping by 5% on a weekly scale and briefly exceeding $7.50. Multiple analysts believe this could be the beginning of a major rally that could push the assets value to as high as $15.

One person to outline such a scenario is the X user World of Charts. He predicted that the aforementioned peak could be reached before the end of Q2, 2024, claiming that DOT has consolidated in a bullish flag.

$Dot#Dot Consolidating In Bullish Flag In H4 Timeframe Expecting Upside Breakout Incase Of Successful Breakout Expecting Move Towards 15$ In Coming Weeks #Crypto pic.twitter.com/nZkfjMoeDL

Earlier this month, CRYPTOWIZARD also forecasted that the price of Polkadots token can ascent to $15. The X user CryptoYoddha and the crypto content creator Jake Gagain were even more optimistic. The former set a future price tag of $20, while the latter envisioned that DOT can soar to almost all-time high some time next year.

Recent Polkadot Price Inputs

While DOTs value plunged significantly during last weeks crypto market correction, several traders viewed the situation as a great buy-the-dip opportunity. The X user Michael van de Poppe touched upon Polkadots fundamental progress and admitted adding the asset to his personal portfolio.

Flash also revealed buying the dip, while Wolf of Altcoins placed DOT among the top cryptocurrencies worth buying at the moment. Other well-known altcoins included in the club are Cardano (ADA), Arbitrum (ARB), Kaspa (KAS), Uniswap (UNI), Chainlink (LINK), and many more.