Crypto analysis: Polkadot (DOT) continuing downward trend raises concerns

[Cryptocrit]

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Polkadot (DOT) has been experiencing a notable downturn in its price, with the current value resting at $7.58 USD as of 2:49 PM PST. Over the past 24 hours, the cryptocurrency has seen a decrease of 2.89%, contributing to its ongoing downward trend. This trend is further evident when examining its performance over longer periods, with a 7-day change of -7.50%, a 30-day change of -9.06%, and a staggering 1-year change of -79.20%. These figures reflect a concerning trajectory for investors and traders alike.

Despite a slight upward tick in the last hour, DOT remains significantly below its all-time high of $54.98 USD, which was recorded on November 4, 2021. This vast disparity raises questions about the cryptocurrency's ability to regain momentum and stabilize its value in the near future. Moreover, the decrease in trading volume compared to previous days suggests a decrease in market activity, indicating waning investor confidence and participation.

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https://www.cryptocrit.xyz/2024/02/Polkadot-price-analysis.html

[bolshojkush]

This is a normal trend. Today, a new project is at the top of the lists, and tomorrow it will be displaced by other projects with newer technologies and solutions to problems. Look at how the market has changed since 2017. At that time, there were a lot of successful blockchain projects with huge ratings, which no one remembers today. For example, Fantom, Zilliqa and many others. Therefore, investors go where there is more innovation and hype.