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NewsBTC 2022-09-26 19:40:23

Polkadot Price Watch: What A Drop In This Key Area Can Mean For DOT?

OK Polkadot (DOT) – which is seen to be on a winning streak in terms of social media metrics and development activity – has been on a retreat recently. DOT social media metrics nosedives Polkadot’s decline in developer activity could leave a bad taste in the mouth of investors DOT’s NFT volume off to as high as 1.64 million on September 24 Is this sudden drop in both metrics just a temporary hiccup or could be a warning signal to investors? Judging by the chart below, DOT price was seen to have nosedived in terms of development activity in the past few days. It’s surprising as Polkadot has been outpacing other cryptocurrencies over the past week but seems to be losing steam now. Related Reading: Algorand: ALGO Price All Go With Nearly 30% Rally In Last 7 Days DOT Social Volume Down, Bearish Movement Looms The reduction in terms of development activity hints at the lack of developers working on Github. Evidently, this lack of development activity could leave a negative impression on investors. DOT’s social volume has capsized which could likely trigger an enhanced bearish movement. Notably, there is also a drop in DOT’s social media engagement in the past few days. The social metrics of Polkadot are seen to have nosedived by 12.6% as seen in the past month. More so, its weighted sentiment has also dropped below 0. These on-chain metrics show the increasingly negative sentiment circling DOT. Despite DOT looking inten...

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