Polkadot Price Rally Fueled by Devnet Activity, But Bearish Trend Remains

Polkadot has been on a tear, surging 18.9% in just one week, with the altcoin testing the psychological $1 resistance level for the second time this year.

The recent rally was driven by a significant spike in daily network activity, which rose by 150%. However, much of this activity took place within the Polkadot Products Devnet environment.

While the network's increased activity is a positive sign, it may not translate to sustainable price growth. In August, news that Grayscale would not be pursuing its proposed Polkadot ETF product sent sentiment into a tailspin.

The weekly chart shows that DOT has been in a downtrend since June 2025, when it fell below the $3.75 long-term support. To turn the tide, the price needs to close above $1.38 on a weekly basis.