() and the of the platform has been creating a niche for itself in the space , accounting for a total of $1.31 billion.

Observe investors' reactions to hey, it looks like their auction will play a big part in pulling out of slippage.

Dot and bullish signals

Efinity, the 6th parachain winner in the second round of the parachain auction, is scheduled to be featured on Enjin on March 11.

DOT shows some bullish trend over the past 3 days. Even so, with the broader market still in a state of fear, prices are more or less consolidating for a while.

In terms of development, Polkadot watching for the next parachain auction which will end in 2 days, preliminarily expected Nodle to win.

Described as a decentralized, crowd-sourced IoT (Internet of Things) network, Nodle intends to use Bluetooth Low Energy (BLE) through millions of smartphones and routers to enable businesses to and smart cities that connect IoT devices to the Internet.

Voters who seem to like the potential impact of this project should support it. The closest competitor is the cross-chain currency marketplace Equilibrium.

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All in all, with Nodle looking to win the next auction on March 11, the price of DOT seems to be improving. For example, the squeeze momentum indicator draws the first green bar in over two weeks.

Furthermore, with the ADX climbing above 25, the active trend could gain more strength with the condition changing to an uptrend.

DOT Price Action | The source: TradingView

Aside from the positive price indicators, the DOT has a real possibility of a rebound as investor sentiment is currently at its best since the December crash.

As soon as this indicator turns positive, the upside/recovery will become stronger.

Psychology of DOT investors | The source: Santiment

However, to attract investors back, need to demonstrate some sustainability capabilities. Currently, the market value of DOT is stuck below the fall below 1. In addition, the return on investments is negative beyond acceptability.

Once that changes, Polkadot will likely be in a significantly better position on the price chart.

dot

Polkadot's Return on Investment | The source: Coinmetrics

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