Polkadot's Bull Run Continues Amid Soaring User Activity and Trading Volume
Polkadot (DOT) price is trading at $1.172, up 7.13% on the day, as buyers dominate the session.
The token sits above its key moving averages, reflecting strong upward momentum. According to data from Coingabbar, Polkadot's network has seen a significant increase in user activity, with monthly active addresses more than doubling from 40,000 in August to 80,300 in September.
This surge in user engagement is accompanied by an increase in trading volume, which jumped 116% to $4.7 billion. The DOT/USD pair continues to trade above the MA-20 and MA-50 on the hourly chart, with the daily close maintaining position above the MA-200.
The nearest key support level for Polkadot is the Ichimoku Kijun line at $1.135, while intraday resistance stands at $1.246. Technical indicators such as MACD and ADX remain in Buy territory, but overbought signals are emerging amid persistent bullish momentum.