Polkadot price rebounds 11% – Can DOT extend its rally to $1.75?

Polkadot [DOT] has extended its bullish recovery by recording a 10.93% to $1.27 over the last 24 hours. The move comes just two days after the token price action rebounded from key EMA support at around $1.02. Interestingly, the bullish advances follow a 54% reduction in annual token issuance and the launch of a native stablecoin, two developments that could strengthen the network’s long-term outlook. At the same time, the network’s increasing Open Interest (OI) and a growing preference for leveraged long positions also point to increased trader participation.

Source: AMBCrypto