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The Polkadot price surged 12% in the last 24 hours to trade at $4.72 as of 03:57 a.m. EST on trading volume that plunged 5% to $361 million.
Grayscale is adding Polkadot (DOT) to the list of ETFs (exchange-traded funds) it has filed with the US Securities and Exchange Commission (SEC).
On Tuesday, Nasdaq submitted an application for a 19b-4 rule change that would see the Grayscale Polkadot Trust trade on the exchange if approved. The SEC now has 45 days to acknowledge the filing.
BREAKING NEWS…🔥
Grayscale Files for a Polkadot ($DOT) ETF with Nasdaq!
This could be a game-changer for the entire @Polkadot ecosystem.
Here’s why:
⭕ Institutional Money Incoming :
Approval could bring a tidal wave of liquidity into $DOT.⭕ Easier Access :
Traditional… pic.twitter.com/wvzSUh6ffs— MISHA (@IMisha000) February 26, 2025
Polkadot Price Analysis: Potential Breakout from Falling Wedge
The DOT price has been in a downtrend since its peak in December, forming a falling wedge pattern, which is a bullish reversal structure.
This wedge has been squeezing the Polkadot price downward, but DOT is now near a key demand zone (Fair Value Gap (FVG)) in the $4.00 – $4.50 range, where buyers have historically stepped in, according to GeckoTerminal data.
The chart also highlights a previous strong rally before the wedge formation, suggesting that DOT might be in the final stages of this correction before a potential breakout to the upside.
Moreover, the 50-day Simple Moving Average (SMA) at $5.6732 and 200-day SMA at $5.6408 are above the current price, acting as resistance.
The Relative Strength Index (RSI) is at 41.22, showing that DOT is nearing oversold territory but still has room for further upside before hitting overbought levels.
Meanwhile, the Moving Average Convergence Divergence (MACD) line (blue) is slightly above the signal line (orange), hinting at a possible bullish crossover. If the momentum strengthens, this could confirm a breakout from the wedge.
DOT Price Prediction
DOT is at a critical point, and a breakout from the falling wedge could lead to a major rally. The measured move projection suggests a 128% increase, targeting around $10.80 in the mid-term.
However, failure to hold this level could result in a deeper correction towards the $4.00 – $4.50 (FVG demand zone), acting as a major support zone and on the lower boundary of the wedge.
As the Polkadot price surges, investors are also buying a new meme coin called Meme Index (MEMEX). According to crypto analyst and YouTuber Jacob Bury, who has over 55.4k subscribers, MEMEX has the potential to be the next 10x crypto.
Meme Index Presale Closing On The $4 Million Mark
The crypto space is down 2% in the last 24 hours to a $3 trillion market capitalization. However, the meme coin space shows signs of recovery, having rebounded 1.9% in the last 24 hours to a $63 billion market capitalization, according to data from Coingecko.
As the meme coin market shows signs of recovery, Meme Index is attracting considerable attention, having raised $3.85 million in its presale.
The Meme Index helps make meme coin investing safer by protecting investors from tokens that mainly benefit creators. Meme coins are unpredictable, but smart investments can lead to big gains.
Like in roulette, where spreading bets improves the odds of winning, diversifying meme coin investments can help manage risk and increase the chances of profit.
The platform offers four distinct investment baskets—Titan, Moonshot, MidCap, and Frenzy—catering to various risk appetites.
🚨 Meme Index is live in Upcoming Tokens! 🚨@memecoin_index presents the first-ever diversified meme coin platform, powered by $MEMEX, giving unparalleled access to the $120 billion meme coin market.
Meme Index offers exclusive access to indexes that cater to every risk… pic.twitter.com/GsiBBuZOzX
— Best Wallet (@BestWalletHQ) December 27, 2024
These baskets range from including established tokens like Dogecoin (DOGE) and Shiba Inu (SHIB) to featuring emerging, high-potential, and high-risk meme coins.
By holding MEMEX tokens, investors gain access to these curated portfolios, simplifying the process of investing in the meme coin sector.
A standout feature of Meme Index is its staking program, which is currently offering an annual percentage yield of approximately 591%.
You can purchase MEMEX tokens on the official website for just $0.016556 to participate in the presale.
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