Polygon Price Crumbles Amid Token Burn Uncertainty

Polygon's price has dropped by 7.44% to $0.1008, currently trading below its key short- and medium-term moving averages while holding above longer-term support levels.

The proposed token burn of 100 million POL tokens, equivalent to about 1% of the circulating supply, remains uncertain due to pending governance approval.

Sandeep Nailwal, a co-founder of Polygon, had called for burning these tokens, but as of September 23, 2026, there has been no confirmed on-chain burn or finalized governance mandate.

The price dynamics indicate seller exhaustion and a potential range of $0.0965 to $0.1059 over the next few days.