Polkadot Falls 11% to $2.02 as Selling Pressure Mounts

Polkadot (DOT) sank to $2.02 on Monday, down sharply from $2.27, as intense selling pushed the token below key technical levels and toward the psychological $2.00 mark. CoinDesk Research’s technical model indicates that the 11.4% drop ranks among DOT’s largest single-session losses this year.

Trading volume surged to 14.6 million tokens, around 280% above the 24-hour average, reflecting strong bearish momentum. The breakdown accelerated overnight, with DOT falling below critical support at $2.05 around midnight UTC.

Recovery attempts failed, as buyers were unable to reclaim levels near $2.09 and $2.06, confirming continued downward pressure. Analysts note that $2.00 now stands as a critical psychological support and the next potential downside target.

The wider cryptocurrency market also retreated, with the CoinDesk 20 Index dropping 7.5% amid broad-based selling.