Polkadot (DOT) has become one of the most discussed assets in crypto, but attention is not translating into confidence. Social media conversations have surged, yet sentiment around DOT has turned sharply negative.
The bullish-to-bearish comment ratio on Santiment data fell from 6.39 to 1.18 in a month, indicating that positive and negative commentary are now nearly balanced. This shift in attention and sentiment is unusual and could signal that the market is reassessing DOT's long-term value rather than chasing hype.
The technicals are also bearish, with DOT trading near $0.95, below all major moving averages. The derivatives picture shows leverage has largely drained out of the DOT market, with Open Interest falling to around $150 million to $170 million, one of the lowest readings in two years.