Polkadot (DOT) moving from $1.8 to $105 by February 2026 is based on cycle logic, fundamentals, and supply dynamics rather than hype. DOT is currently deeply undervalued despite being one of the strongest infrastructure-focused blockchain networks. Historically, high-quality Layer-0 and Layer-1 projects tend to recover sharply once market liquidity returns.

The broader crypto cycle supports this outlook. After Bitcoin’s halving, capital typically rotates from BTC to ETH and then into high-beta altcoins like DOT. Since DOT has already corrected more than 90% from its all-time high, it sits in a strong position for a cycle-driven rebound.

Additionally, a significant portion of DOT’s supply is locked in staking, reducing available circulating supply. When demand increases, this supply constraint can cause rapid price acceleration. Polkadot’s unique parachain model, interoperability, and long-term ecosystem development make it attractive to institutional investors during late bull-market phases.

My opinion: A move to $105 represents a full cycle re-rating, achievable if global liquidity and altseason align.