Polkadot's DOT Slips 4.5% Amid Weak Market Participation
Polkadot's DOT token fell 4.5% to about $1.75 intraday, with a low of $1.7597, over the last 24 hours. This decline outpaced the broader crypto market, which saw the CoinDesk 20 index fall 2.5% at the time of publication. Trading volume for DOT is 9% below the 30-day average, indicating weak conviction and minimal institutional participation.
The price action has been dominated by technical factors with DOT repeatedly testing and reinforcing the $1.76 area as primary support. Market participation has decreased as capital rotates toward higher-momentum assets, and no clear catalysts have emerged to re-engage buyers.
The downward move appears driven primarily by technical factors and a lack of institutional flows rather than fundamental drivers.
