Is Polkadot (DOT) a Good Buy Following the Crash? This Trader Discusses

TL;DR

Polkadot (DOT) has dropped 22% in value over the past week. Despite this, some traders look at it as an opportunity right now.
Analysts predict a significant rebound for the asset, with potential targets ranging from $20 this summer to near $47 next year.

The Right Moment to Invest in DOT?
Polkadot’s native token – DOT – has suffered painful losses during the latest crypto market decline, with its price nosediving by 22% on a seven-day scale. Earlier this week, the asset tumbled below the $6 mark for the first time since December 2023, while currently, it hovers at the $6.30 level (per CoinGecko’s data).
DOT Price, Source: CoinGecko
However, some analysts remain certain that DOT will overcome the challenges and rise to witness new peaks. One popular trader who outlined the token’s potential is the X user with hundreds of thousands of followers – Wolf of Altcoins.
The enthusiast placed DOT among the top cryptocurrencies worth buying at the moment. Other well-known altcoins in the club include Cardano (ADA), Arbitrum (ARB), Kaspa (KAS), Uniswap (UNI), Chainlink (LINK), and many more.
Additional traders who view the current DOT price decline as a buy-the-dip opportunity are FLASH and Michaël van de Poppe. They both recently added the asset to their portfolios.
Short-Term Bitcoin Price Prediction
According to the well-known analyst and trader CRYPTOWIZARD, Polkadot’s native cryptocurrency is set for a “volcanic eruption brewing.” He assumed an 80% price increase should it overcome the major resistance level of $9.60. 
CryptoYodda believes DOT can hit a two-year high of $20 this summer, while the crypto content creator Jake Gagain was even more bullish. He expects the asset’s value to reach $47 sometime next year (just inches from a new all-time high).
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