Summary
TLDR: Polkadot (DOT) price is showing bullish momentum and is favored by institutional investors. The altcoin has higher inflows compared to competitors like Litecoin, Ripple, and Cardano. The Price-to-Sales ratio suggests DOT is undervalued. The price has been following a rounding bottom pattern, with potential growth to $12 if market conditions support it. However, if the price fails to cross $11, a fallback to $10 is likely. Always conduct your own research before making financial decisions.
Key Points
1. The Polkadot (DOT) price is witnessing bullish momentum building at the moment, signaling further growth for the altcoin.
2. Polkadot has been preferred by institutions, with higher inflows compared to competitors like Litecoin, Ripple, and Cardano.
3. Polkadot’s Price-to-Sales (P/S) ratio is lower than historical averages, indicating potential undervaluation and room for growth.