A group of cryptocurrency industry experts say now is the time to sell dogecoin. Most experts expect DOGE to completely lose its value. Dogecoin “it was a meme currency that shouldn’t have come to thisone of the panel’s experts said, blaming Tesla CEO Elon Musk for the popularity of the cryptocurrency meme.
A panel of experts talks about Dogecoin’s loss of value
Price comparison portal Finder updated its dogecoin (DOGE) price predictions on Wednesday. The platform explained that it measures experts’ predictions on the future price of the dogecoin using weekly and quarterly surveys. The latest quarterly survey, conducted in July, “asks a panel of 54 industry experts to express their opinion on how dogecoin will behave in the next decade.“
The panel was asked the following question: “Do you think dogecoin will completely lose its value?55% said yes, 21% believe the cryptocurrency meme will recover and 24% said they are unsure. As for when dogecoin’s price will lose all its value, 3% said it will happen within a year, 12% said next year, 9% will see it happen in 2024, and 30% said it will happen next year. the crypto meme will completely lose its value in 2025 or later.
“We are a bit far from the days when people thought DOGE was going to the moon“, Describes Finder. “People are now more concerned about DOGE staying on Earth (read: drops to zero), which according to more than half of the panel (55%) will happen at some point in the future. Only 1 in 5 (21%) see the DOGE bounce.“
Dogecoin price predictions
Although most of the panelists were not confident in dogecoin’s long-term future, some of them remained optimistic. For example, Walker Holmes, co-founder and vice president of Metatope, predicted that the price of the dogecoin could reach $ 0.40 by the end of the year. “DOGE has a large community but little use. DOGE has the ability to attract a culture of content creators and creatives“, he has declared.
Bullish forecasts for dogecoin from some experts pushed the panel’s average forecast higher. Detailed Finder:
Dogecoin may experience a modest increase in value in 2022, with Finder.com’s fintech panel providing an average end-of-2022 forecast of $ 0.08. Moving forward, the panel predicts dogecoin will be worth around $ 0.19 in 2025 before reaching $ 0.64 in 2030.
“The panel’s short-term forecast for July is significantly reduced from the January survey results, when the panel projected DOGE to be worth $ 0.16 at the end of 2022 and $ 0.32 in 2025.Finder noted. At the time of writing, the meme’s currency is trading at $ 0.070534.
A handful of panel experts said Tesla CEO Elon Musk is responsible for the dogecoin’s popularity. Bitwave CEO Patrick White noted: “DUKE was a meme that really shouldn’t have gotten to this point. Thanks, Elon“.
Regarding whether it’s time to buy, sell or hold dogecoin, Finder detailed:
Most of the jury thinks it’s time to quit DOGE, with 71% saying they sell. Just under a quarter (24%) think you should keep what you have and only 4% say it’s time to buy.
The panel includes college deans, cryptocurrency exchange heads, cryptocurrency research analysts, and executives from various companies offering cryptocurrency-related products.
Finder experts also recently made predictions on several other cryptocurrencies, including bitcoin, ether, cardano, solana, and binance coin. In May, the panel predicted the death of DOGE’s rival, the cryptocurrency meme shiba inu (SHIB).
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