The cryptocurrency market has been stagnant for the past few days. Bitcoin (BTC) seems to be consolidating around $69,000 while the global crypto market cap stands at $2.7 trillion. Polkadot (DOT), on the other hand, has seen a significant correction in the past few days. The asset is down 1.9% on the daily charts, 5.3% on the weekly charts, 7.7% on the 14-day charts, and 1.1% month-on-month.
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Polkadot (DOT) started the year on a high note, rising to as high as $11.46 in March. DOT’s rise at the start of the year was likely due to Bitcoin (BTC) hitting an all-time high of $73,737. BTC’s rise, meanwhile, was fueled by the U.S. Securities and Exchange Commission’s (SEC) approval of 11 spot BTC exchange-traded funds (ETFs). However, prices did not hold up as DOL has since fallen by 38.8%.
Polkadot (DOT) price prediction for early June 2024
According to CoinCodex, DOT will rise during the month of June. The platform predicts that DOT will rise to $9.12 on June 9, 2024, which represents an increase of about 30.1%. In addition, the platform expects DOT to reach $20.43 on June 30, 2024. Reaching $20.43 from the current level would represent a growth of about 191.4%.
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Changelly also expects Polkadot (DOT) to rise in the next few days. The platform expects DOT to reach $10.60 on June 10, 2024. Reaching $10.60 from current levels would represent an increase of about 51.21%.
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However, there is also a possibility that the crypto market will consolidate at the current levels. DOT’s rally will most likely depend on the overall market sentiment and also the performance of BTC.
