Hey everyone, it's me diving into the latest crypto drama. Polkadot (DOT) just got wrecked as heavy selling from big players triggered a nasty technical breakdown. We're staring at a key support level that got absolutely shattered at **$2.87**, and things are looking pretty bearish right now.
## What's Going On with DOT?
I pulled up the 24-hour chart on CoinDesk Data, and wow—it's a bloodbath. As of **November 3, 2025, at 8:57 p.m.**, DOT-USD is sitting at **$2.7513**, down a brutal **-5.96%**. Here's the quick snapshot:
- **Open**: 2.9257
- **High**: 2.9925
- **Low**: 2.7392
- **24h Volume**: 3.36M
- **Volume in USD**: 9.52M
The chart tells the story: We started the day hovering around $2.93, climbed a bit to nearly $3, but then the bears unleashed hell. Institutional selling pressure kicked in hard, slamming us below that $2.87 line that everyone was watching. From there, it was a steep drop—look at those volume spikes around midnight and into the morning. By 12:00, we were scraping the bottom at $2.80 before bouncing a tiny bit, but nope, sellers weren't done.
That red-filled chart is screaming "capitulation." The price action broke through the support like it was paper, and now we're testing even lower levels. If this holds, we could see more pain heading toward $2.50 or worse.
## Why the Sell-Off?
From what I'm seeing, this isn't just retail panic—it's the whales dumping. Heavy institutional flows have been exiting Polkadot positions, probably rotating into safer bets or other alts amid broader market jitters. Polkadot's been struggling with adoption hurdles, and this breakdown confirms the momentum shift.
I've been tracking $DOT for a while, and this feels like the culmination of weeks of consolidation. The bears broke the dam, and now liquidity is drying up on the buy side.
## My Take: What’s Next?
Short-term? Brace for volatility. If we can't reclaim $2.87 quickly, $2.70 is the next stop, maybe even sub-$2.50 if fear spreads. On the flip side, a rebound above $2.90 could invalidate this bear trap—watch for volume on any upside moves.
Long-term, I'm still bullish on Polkadot's tech (parachains, anyone?), but right now, the chart doesn't lie. Protect your bags, set those stops, and maybe average in if you're a believer.
What do you think caused this dip? Drop your thoughts below—let's discuss! 🚀🐻
P.S. Not financial advice—DYOR!
