Polkadot surprises traders with latest hike – Can DOT hit $7.5 next?

Polkadot decoupled from the bearish market trend as its value surged by more than 5% in the last 24 hours.had other plans, as its daily chart remained green. Does this mean investors should expect the token’s price to rise further in the coming days?The recent market drop pushed Bitcoin’s price down by 10% over the last week. Not only BTC, but Ethereum also had a similar fate, as it dropped by nearly 2% in the last 24 hours., Polkadot was up by more than 5% in the last 24 hours.

As per our analysis of Santiment’s data, DOT’s weighted sentiment improved, meaning that bearish sentiment around it decreased over the last few days. Its social volume spiked, reflecting its popularity in the crypto space.Apart from this, Polkadot’s derivatives metrics also looked optimistic. Its open interest increased along with its price. Whenever the metric moves up, it indicates the chances of the current price trend, which on this occasion was bullish, continuing further.

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