Analyst: The price of Polkadot faces selling pressure and returning to $1 remains to be verified
2026-08-29 21:29:06
According to CoinMeta, Polkadot is still facing selling pressure despite strong decentralized leadership. The current price is $0.8424, which has fallen below the 50-day moving average, with $0.71 becoming a key support level. Although Polkadot leads in the Nakamoto coefficient rankings and demonstrates strong decentralized characteristics, its price has weakened under the influence of macroeconomic pressures and new challenges to the ecosystem. Recently, over 900 million DOT have been pledged, approaching the 1 billion milestone. Additionally, 21Shares of Polkadot were listed on August 27th. Despite positive developments within the ecosystem, the price of Polkadot continued to decline after reaching $1.02 on August 22nd. The market needs a return to demand, and the network also needs to continue to advance ecological progress.
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Source:Coinpedia
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