Now is the time to sell Dogecoin, according to a panel of crypto industry experts. Most experts expect DOGE to lose its value entirely. Dogecoin “is a meme coin that shouldn’t really have gotten to this point,” an expert on the panel said, accusing Tesla CEO Elon Musk of being the creator of the meme cryptocurrency Popularity.
Panel of Experts on Dogecoin Losing All Its Value
Price comparison portal Finder updated its Dogecoin (DOGE) price forecast on Wednesday. The platform explained that it uses weekly and quarterly surveys to gauge experts’ predictions about the future price of Dogecoin. The latest quarterly survey, conducted in July, “asked a panel of 54 industry experts what they think of Dogecoin’s performance over the next decade.”
The panel was asked, “Do you think DOGE will lose its value entirely?” 55% said yes, 21% thought the meme cryptocurrency would rebound, and 24% said they weren’t sure. Regarding when the price of Dogecoin will fully depreciate, 3% said it will happen within this year, 12% said it will happen next year, 9% said it will happen in 2024, and 30% said that the meme cryptocurrency will completely depreciate Lose value in 2025 or later.
“We’re a long way from the days when people thought DOGE was going to the moon,” Finder described. “People are now more worried that it will stay on Earth (read: zero), with more than half of the panel (55%) saying it will happen at some point in the future. Only one in five (21%) See DOGE bounce back.”
Dogecoin Price Prediction
While most of the experts on the panel are not confident about Dogecoin’s long-term future, some of them remain optimistic. For example, Walker Holmes, co-founder and vice president of Metatope, predicted that the price of Dogecoin could reach $0.40 by the end of the year. “DOGE has a great community, but nothing practical. DOGE has the power to attract a culture of content creators and creatives,” he believes.
Bullish predictions for Dogecoin by some experts pushed up the average panel forecast. Finder details:
The value of Dogecoin is likely to rise slightly in 2022, with the average forecast by Finder.com’s panel of fintech experts for the end of 2022 at $0.08. Looking ahead, the panel expects DOGE to be worth around $0.19 by 2025, before rising to $0.64 by 2030.
“The panel’s July short-term forecast is down significantly from January’s findings, when the panel sees DOGE closing at $0.16 by 2022 and $0.32 by 2025,” Finder noted. At the time of writing, The meme coin is trading at $0.070534.
Some experts on the panel said that Tesla CEO Elon Musk is to blame for Dogecoin’s popularity. Bitwave CEO Patrick White commented: “DOGE is a meme coin that shouldn’t really have gotten to this point. Thanks, Elon.”
As for when to buy, sell, or hold Dogecoin, Finder elaborates:
The majority of the group thought it was time to get out of DOGE, with 71% saying it was a sell. Just under a quarter (24%) think you should stick with what you have, and just 4% think it’s time to buy.
The panel includes university directors, crypto exchange executives, crypto research analysts, and executives from various companies with crypto-related products.
Finder’s experts also recently made predictions for several other cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Cardano (ADA), Solana (SOL), and Binance Coin (BNB). In May, the panel predicted the death of DOGE’s rival, the meme cryptocurrency shiba inu (SHIB).
What do you think of the Dogecoin price prediction from the Finder panel? Let us know in the comments section below.
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