DOT’s latest price underscores the push and pull that has been going on between the bulls and the bears since the last week of April. In other words, Polkadot’s social metrics have not had much of an impact on DOT’s price action.
Favorable social metrics are important because they underscore growing visibility to potential investors. But will the favorable social metrics have an impact on the demand for Polkadot and its native crypto DOT in the next few weeks? Well, multiple other factors come into play.activity saw a bit of a slowdown in April and it kicked off May by falling to a new four-week low. Similarly, DOT’s weighted sentiment concluded April at its lowest monthly level.
As a result, more traders embraced short positions in an effort to take advantage of the subsequent downside as seen on Coinglass.
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