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  • Optimistic sentiment round DOT surged together with its worth final month. 
  • DOT was down by 5%, and market indicators seemed bearish on the token.

If the latest market crash is to be ignored, a number of cryptos have been displaying commendable performances, together with Polkadot [DOT] and Web Pc [ICP].

In truth, the newest knowledge revealed that each tokens managed to elevate their values to triple digits from their minimal. Nevertheless, DOT must push its worth additional up as a way to meet up with ICP’s achievement.

Polkadot and Web Pc displayed a bull present!

During the last thirty days, ICP bulls showered earnings on buyers as its worth rallied.

In keeping with CoinMarketCap, ICP was up by greater than 145% within the final 30 days. On the time of writing, ICP was buying and selling at $12.95 with a market capitalization of over $5.8 billion.

Although Polkadot’s worth elevated, the diploma of progress was not as nice as that of ICP. DOT’s worth surged by almost 25% over the past month.

In truth, Tony, a preferred crypto analyst, just lately posted a tweet highlighting Polkadot and Web Pc’s achievements.

As per the tweet, ICP and DOT’s costs surged by 400% and 150%, respectively, from their minimal, which seemed optimistic for the tokens.

Since each token costs elevated final month, AMBCrypto took a have a look at their social metrics.

Our evaluation discovered that whereas DOT’s worth shot up, its weighted sentiment additionally elevated, which means that bullish sentiment across the token was excessive.

Nevertheless, that was not the case with ICP, as its weighted sentiment remained on the unfavorable aspect the vast majority of the time final month.

Supply: Santiment

Polkadot to additionally develop by 400%?

Although each tokens registered triple-digit progress since their minimal, DOT nonetheless must pump its worth by one other 250% as a way to be on par with ICP.

Subsequently, AMBCrypto had a better have a look at DOT’s state to see whether or not that end result is feasible within the close to future. Within the final 24 hours alone, Polkadot was down by greater than 5%, because of the bearish market situation.

On the time of writing, it was buying and selling at $7.30 with a market cap of over $9.5 billion.

Our have a look at DOT’s every day chart revealed that its MACD turned bearish. Moreover, its Relative Energy Index (RSI) additionally registered a downtick, rising the possibilities of a continued downtrend.

Supply: TradingView

Learn Polkadot’s [DOT] Value Prediction 2023-24

Nonetheless, Polkadot’s derivatives market metrics seemed bullish. For instance, whereas the token’s worth dropped, its open curiosity additionally plummeted.

A drop within the metric often suggests a development reversal. Its Binance funding charge additionally declined, which means that derivatives buyers weren’t shopping for DOT at its cheaper price.

Supply: Santiment

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