The Polkadot price has mostly disappointed holders in this bull cycle, with DOT stuck in a choppy range between $3 and $5 for most of the year. But a viral chart from popular analyst Degen Hardy on X is giving long-term holders new hope. Hardy posted a weekly chart of DOT paired with USDT and added, “I just fat fingered the BUY button on $DOT – 1,100%+ away from its ATH.”
Hardy’s chart shows the big picture of Polkadot’s market history. After peaking near $55 back in 2021, DOT fell into a long downtrend and has spent the last two years forming a base near $4. The chart highlights major horizontal levels around $3.6 for support and $10 for resistance. Above that sits the old all-time high zone of roughly $55. Hardy’s key call is that DOT could climb from today’s $4.3 area all the way to around $50–55, which would be a 1,100% move from current prices.
The setup indicates that DOT is completing a multi-year accumulation phase. Hardy’s projection shows a vertical arrow pointing from today’s level to the previous ATH, implying that a breakout could trigger a parabolic move back toward those highs. The logic is simple: if the market flips bullish and capital rotates into lagging majors, Polkadot has room to catch up.
Still, such a big rally is easier drawn than done. DOT would need strong catalysts to justify an eleven-fold price increase. While Polkadot continues to develop parachain upgrades and remains a top interoperability play, it has not attracted the same level of institutional excitement or retail hype as Solana, Ethereum, or newer L2s this year. Liquidity and fresh demand would have to return in a big way for Hardy’s target to play out.
Polkadot is no stranger to sharp cycles, so a run toward previous highs isn’t impossible. But it would likely require a broader crypto bull market and significant network adoption to lift DOT out of its long consolidation. For now, Hardy’s chart is a bold reminder that some traders still see deep value in one of crypto’s original multichain projects, even if the path to $50+ is far from guaranteed.
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