Polkadot

Dogecoin

Shiba Inu

<p>The price of Polkadot’s DOT token has seen notable gains recently, up around 5% today. Part of the reason for this latest price hike seems to be due to major treasury funding for Polkadot ecosystem growth and development.</p> 
<p>On January 12th, 2024, the Polkadot treasury funded over 1 million DOT worth of proposals. Crypto industry personality @CryptoCappex broke these down in a recent Twitter thread. He explained the treasury is allocating funds to expanding tools around NFT capabilities, oracle solutions, SDK development, marketing efforts, and more.</p> 
<p><a href="https://twitter.com/CryptoCappex/status/1750593094008082682?t=a0lf18s3YKVRnZCZRdDt_A&amp;s=19" target="_blank" rel="nofollow">@CryptoCappex</a> believes these investments demonstrate “a holistic approach to development and growth.” He thinks understanding where treasury funds are directed is key for DOT holders to “anticipate the network’s trajectory.”</p>  
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<p><strong>Accumulation Underway at Support</strong></p> 
<p>In addition to the fundamental boost from treasury funding news, some analysts see bullish signs in DOT from a technical perspective.</p> 
<p>Influential trader <a href="https://twitter.com/CryptoMichNL/status/1750832813526421644?t=VofpHh33ITF9wE9ZhNB4zA&amp;s=19" target="_blank" rel="nofollow">Michaël van de Poppe</a> (@CryptoMichNL) noted DOT is “on the edge of hitting a higher timeframe support level.” He is personally “accumulating at these regions” between $5.60-$6.00 to prepare for an “upwards run” in altcoins.</p> 
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<p>So the combination of strong on-chain development activity and bouncing off key technical levels has traders optimistic about further upside for Polkadot. The network enhancements could drive real-world adoption, while oversold conditions may spark a relief rally.</p> 
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<p>The post <a href="https://captainaltcoin.com/why-is-polkadot-dot-price-up-3/">Why Is Polkadot (DOT) Price Up?</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Why Is Polkadot (DOT) Price Up?

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