Polkadot's DOT token slid 6.16% to $1.26 in the latest session, but on-chain data reveals a contrasting trend: whales are aggressively scooping up coins. Traders are now watching whether the accumulation can fuel a 98% surge to $2.50 in the coming weeks.
Whale buying during the dip
Despite the selloff, large holders have been increasing their positions. The pattern mirrors typical whale behavior — buying when retail fear is high. DOT's price has been under pressure, but the steady inflow of tokens into wallets holding substantial amounts suggests confidence among deep-pocketed investors.
The accumulation comes as the broader crypto market shows mixed signals. Bitcoin and Ethereum have also seen volatility, but Polkadot's slide has been sharper than some peers.
Neutral RSI leaves room for a move
The Relative Strength Index for DOT sits in neutral territory — neither oversold nor overbought. For technical analysts, that’s a blank canvas. A neutral RSI means the token isn't stretched in either direction, giving room for a potential breakout if buying pressure continues.
Some traders point to the combination of whale accumulation and a neutral RSI as a setup for a sharp reversal. The prediction of a 98% rally to $2.50 within weeks is based on these factors, though no specific catalyst has been named.
What needs to happen for the rally
For DOT to hit $2.50, buying volume would need to accelerate significantly from current levels. Whale wallets alone may not be enough if broader market sentiment stays bearish. The next few days will be critical: if accumulation continues without a price recovery, it could indicate that whales are positioning for a longer-term hold rather than an immediate pump.
The $1.20 area is seen as a key support level. A break below that could invalidate the bullish thesis, while a move above $1.40 would likely attract momentum traders.
