Polkadot Aims Higher After 45.4% September Surge

Polkadot (DOT) is trading near $1.23 as of October 6, 2026, following a significant 45.4% surge in September, marking its largest monthly gain of the year. Analysts remain optimistic about the token's prospects, provided it maintains support above $1.19 and manages to close above $1.30, which could propel it toward a target of $1.40.

The token currently sits between two rising trendlines, with the upper boundary near $1.33 and the lower one around $1.09. The narrowing space between these trendlines suggests an imminent breakout, which could occur within the next few weeks. To achieve a higher push, DOT needs to secure a daily close above $1.30.

Another key development is Referendum 1944, which proposes the introduction of a Polkadot-native stablecoin called dotUSD. As of October 6, the referendum remains undecided, but its outcome could have meaningful implications for DeFi adoption and DOT's utility within the ecosystem.