Polkadot Under Fire: 20% Price Drop Follows $87 Million Spending Outrage
Summary
Polkadot (DOT) faces a critical juncture after a slump. Technical analysis suggests a bullish reversal, with a falling wedge pattern indicating a potential breakout towards $9. However, the Polkadot Foundation's $87 million spending spree has raised skepticism. Despite investments in advertising, events, and development, community members doubt the effectiveness, citing Polkadot's lag behind competitors. The Relative Strength Index is neutral, leaving room for upward momentum. The community's concerns about the Foundation's spending could impact DOT's potential breakout.
