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MN Trading’s Poppe: Polkadot (DOT) Undervalued, Poised for RWA Boom

Published 10/06/2024, 11:30
Updated 10/06/2024, 12:15
MN Trading’s Poppe: Polkadot (DOT) Undervalued, Poised for RWA Boom

Coin Edition -

  • Polkadot is stepping into the Real World Assets (RWA) segment as a market leader.
  • Michael van de Poppe thinks DOT is heavily undervalued.
  • The renowned analyst highlighted the potential developments for SUI, LINK, FLOKI, and FTM.

MN Trading founder Michael van de Poppe positions Polkadot (DOT) as a frontrunner in the emerging Real World Assets (RWA) space. Poppe points to recent developments within the Polkadot ecosystem, including the release of the JAM whitepaper, which he views as a pivotal innovation for Polkadot 2.0.

Based on these developments, Poppe believes DOT, the native token of the Polkadot ecosystem, is significantly undervalued. He emphasizes Polkadot’s SDK toolkit as one of the most widely used tools within the crypto space, streamlining the development process for blockchain products.

Poppe identifies RWAs as the key to widespread adoption of blockchain technology, as it bridges the gap between the real and digital worlds. He estimates the RWA market to be massive, potentially reaching a total market cap of $10 trillion by 2030. This growth, according to Poppe, is likely to positively impact DOT’s price in the near future.

In addition to DOT, the renowned analyst highlights critical developments in other altcoins that traders should be aware of. He observes that SUI has established a higher low and may be poised for a breakout. Poppe predicts the new altcoin could surge to $1.60 if it breaks above $1.17 with strong momentum.

Poppe believes LINK is also undervalued, with its price currently at the bottom of a sideways trading channel. The analyst notes LINK’s historical trend of initiating price rotations in June, suggesting the potential for a 150% return in the near future.

While Poppe anticipates rallies for DOT, SUI, and LINK, he has a different outlook for FLOKI. He acknowledges the memecoin’s impressive 1,200% surge since the market rally began, but also points to a potential liquidity sweep above the previous high. Poppe expects an imminent correction for FLOKI, potentially leading to a 40% pullback before resuming its upward trajectory.

Poppe predicts a potential downturn for FTM’s price due to the formation of lower highs and lows. He anticipates a price breakdown due to multiple retests of the $0.60 support level. Poppe identifies the $0.60 support zone and the lower $0.40 area as key levels to watch before a potential FTM recovery.

The post MN Trading’s Poppe: Polkadot (DOT) Undervalued, Poised for RWA Boom appeared first on Coin Edition.

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