Is Polygon (POL) Undervalued? Price Analysis and Tokenomics Show Promise

Polygon (POL) is facing bearish pressure, its price recently dipping to $0.1338 after a 0.5% decline in the past 24 hours. While it’s near the lower Bollinger Band at $0.1184, indicating potential oversold conditions, recent data suggests POL may be undervalued. The token burns over one million tokens weekly, keeping its circulating supply low and contributing to net inflation of just $140,000 per week – significantly less than many other Layer 1 projects. 31.77 on the RSI scale indicates that POL is nearing oversold territory but still not reversing. Technical analysis points to a need for buyers to step in to avoid further declines early next month. ]