Polkadot (DOT) shows signs of a major breakout as volume spikes and whale activity signals market shift. What's next?
DOT’s daily chart highlighted a descending wedge pattern, a bullish reversal structure typically indicating a possible breakout on the horizon.
A breakout above this level would confirm a bullish reversal and could drive the price toward the projected target near $10. However, a broader look at DOT Futures Open Interest shows a decline from peaks of nearly $400 million in mid-April to current levels around $150-$200 million.The behavior of large holders has also been notable. Data showed that whales holding stablecoins worth over $5 million accumulated significantly from late April to mid-June 2024, particularly as DOT’s price fell.
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