Polkadot Undervalued, Analyst Predicts Rally to $17: Here’s When

According to crypto analyst Michael van de Poppe, Polkadot (DOT) is “heavily undervalued.” The analyst highlights that the project released their JAM (Join-Accumulate Machine) upgrade and is focusing on RWA (Real-World Asset). Furthermore, the analyst says that DOT focuses on scalability and security, which could make it a solid project for future growth.

According to a chart shared by van de Poppe, DOT could rally to $17 if a breakout occurs. Reaching $17 from current price levels would translate to a growth of over 134%.

Also Read: Polkadot (DOT) Price Prediction: Early June 2024

Will Polkadot (DOT) hit a new all-time high in 2024?

DOT is currently down by nearly 87% from its all-time high of $54.98, which it attained in November 2021.

Also Read: Polkadot (DOT) Targest $9 as Market Takes a Bullish Turn

CoinCodex predicts DOT to rally over the next few weeks. According to the platform, DOT’s price could surge to $24.47 on July 3, 2024. Reaching $24.47 from current levels would translate to a growth of over 237%. It is possible that DOT will continue its rally beyond July, and hit a new all-time high later this year. However, for DOT to reclaim its all-time high in 2024, the general crypto market sentiment needs to be high, and a 2021-like bull run is required.

Changelly also paints a bullish picture for Polkadot (DOT) over the next few weeks. The platform predicts DOT to hit $23.80 on July 2, 2024. However, Changelly does not anticipate DOT to hit an all-time high this year. According to Changelly data, DOT will reclaim its all-time high in 2029, hitting $55.06 in July 2029, about five years from now.

Telegaon, on the other hand, expects Polkadot (DOT) to hit an all-time high in 2028, predicting the asset to reach a maximum price of $59.01 for the year.