The crypto market has seen a surge in prices recently, with Polkadot (DOT) being one of the standout performers. According to recent data, DOT's price has risen by over 25% in just a few days, driven by a significant increase in trading volume.
At press time, the asset is trading at $1.59, with a market capitalization of over $2.64 billion. The daily trading volume has skyrocketed by over 524%, reaching $848.57 million. However, it's worth noting that the Fear and Greed Index value remains low at 16, indicating extreme fear in the broader market.
Analysts believe that sustained momentum could lead to further price growth for DOT. If this continues, the asset may break through resistance levels and potentially reach new highs. However, there is also a risk of a short-term pullback, given the asset's overbought condition as indicated by its Relative Strength Index (RSI) reading.