The Polkadot price rose for the second consecutive day as the cryptocurrency market bull run continued. DOT token rose to a high of $4.3 on Tuesday, up by 13% from its lowest point this week.
Polkadot Crypto Card Community Vote
Polkadot price rose after the developers launched a community vote on a new crypto card. The Polkadot payment card will be non-custodial, meaning users will own their own funds. It will be accepted globally and dominated by the Euro and the US dollar.
The card will also have no fees except for a usage fee and cashback for its holders. It will have the power to replace traditional banking rails for everyday spending.
Data shows that most members of the Polkadot community are voting in the affirmative. 136.9k DOT tokens worth over $570,000 have voted in the affirmative. The vote will end in the next 27 days.
The other potential catalyst for the DOT price is the upcoming Elastic scaling integration. This scaling enables parachains to add multiple cores for tasks, thereby reducing block times and addressing throughput issues.
Polkadot has already implemented asynchronous backing and agile coretime. Asynchronous backing reduced block times from 12 seconds to 6 seconds, while the agile coretime ended the parachain auctions.
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DOT Price Technical Analysis
The daily chart indicates that the DOT price has been trending upward over the past few days. It has formed a falling wedge pattern and moved above the upper side of this pattern.
Polkadot price has formed an inverse head and shoulders pattern, a popular bullish reversal sign. The Relative Strength Index (RSI) and the Stochastic Oscillator have both pointed upwards.
Therefore, the token is likely to continue rising as bulls target the resistance level at $5.37, the highest point reached on May 11. A drop below the support at $3.6 will invalidate the bullish view.
Bitcoin Pepe Token Sale Gains Steam
Meanwhile, Bitcoin Pepe is firing on all cylinders as demand from investors jumps. It has already raised over $14 million from thousands of investors in the past few months.
Bitcoin Pepe’s success is largely due to the field it aims to disrupt. It aims to be the best alternative to Solana, which has become the biggest chain in the meme coin industry. All Solana meme coins have accumulated a market capitalization of over $11 billion.
READ MORE: Top Analyst Explains Why the Polkadot Price is About to Surge
Bitcoin Pepe’s strategy is to create a layer-2 network for Bitcoin, the biggest cryptocurrency. The L2 network will enable users to launch new meme coins within minutes and achieve the same success as other top players, such as Fartcoin and Dogwifhat.
Other applications leveraging Bitcoin’s technology have become highly successful. For example, Bitcoin layer-2 networks like Core and Stacks have accumulated millions in total value locked (TVL). Similarly, Bitcoin staking apps have amassed over $9 billion in assets, while Bitcoin Ordinals have achieved notable success in the NFT space.
Bitcoin Pepe’s inflows will likely continue soaring as the developers prepare to announce the listing date, which may happen by the end of the month. You can buy the BPEP token here before time runs out.
