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Polygon price rises 12% since 100M POL burn—can it hold above $0.11?
Polygon removed 100 million POL from circulation, and the POL token price rose 12%, according to the article. The token climbed toward $0.11, leaving buyers with another resistance test, which is a price level where selling has previously stopped rallies.
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Updated:
What happened
Polygon removed 100 million POL from circulation, and the POL token price rose 12%, according to the article. The token climbed toward $0.11, leaving buyers with another resistance test, which is a price level where selling has previously stopped rallies.
Confirmed
Global impact / market context
Burning 100 million POL reduces the number of tokens available to trade. If demand stays the same or grows while supply falls, the price can rise because buyers compete for fewer tokens, which may support the recent 12% gain.
Analyst inference
The article describes POL climbing toward $0.11 after the burn, but it also notes a resistance test ahead. Resistance means a price level where sellers have previously overwhelmed buyers. Holding above $0.11 would suggest buyers remain in control after the 12% rise.
Analyst inference
What to watch
- Watch whether POL can hold above $0.11, because the article says buyers face another resistance test after the token climbed toward $0.11 following the 100 million POL burn. Confirmed
- A future project update could disclose another token burn or a change to POL supply, which would matter because removing tokens from circulation can affect the price if demand stays steady. Proposed
- If POL fails to hold above $0.11, the recent 12% gain could reverse as sellers take profit, while a sustained break above resistance would signal that buyers are still willing to pay higher prices. Analyst inference
Affected assets
- POL — POL (ex-MATIC)