A panel of crypto industry experts say now is the time to sell dogecoin. The majority of experts expect that DOGE will completely lose its value. Dogecoin “was a meme coin that really shouldn’t have gotten to this point,” said one of the experts on the panel, blaming Tesla CEO Elon Musk for the popularity of the meme cryptocurrency.
Expert panel on Dogecoin losing all value
Price comparison portal Finder updated its dogecoin (DOGE) price predictions on Wednesday. The platform explained that it measures expert predictions about the future price of dogecoin using weekly and quarterly surveys. The most recent quarterly survey, conducted in July, “asked a panel of 54 industry experts for their thoughts on how dogecoin will perform over the next decade.”
The panel was asked: “Do you think DOGE will lose its value completely?” 55% said yes, 21% believe the meme cryptocurrency will make a comeback, and 24% said they were unsure. As for when the price of dogecoin will lose its entire value, 3% said it will happen within the year, 12% said next year, 9% see it happening in 2024, and 30% said the meme crypto will lose its value completely by 2025 or later.
“We’re a bit removed from the time when people thought DOGE was going to the moon,” Finder described. “People are now more concerned about it staying here on Earth (read: going to zero), which over half of the panel (55%) say will happen at some point in the future. Only 1 in 5 (21%) see DOGE bounce back.”
Dogecoin price predictions
While the majority of experts on the panel do not have confidence in the long-term future of dogecoin, some of them remained optimistic. For example, Walker Holmes, co-founder and VP of Metatope, predicted that the price of dogecoin could reach $0.40 by the end of the year. “DOGE has a great community, but little use. DOGE has the ability to attract a culture of content creators and creatives,” he opined.
Bullish forecasts for dogecoin by some of the experts have pushed the average panel predictions upwards. Find in detail:
Dogecoin could see a modest increase in value in 2022, with Finder.com’s panel of fintech specialists giving an average forecast for the end of 2022 of $0.08. Going forward, the panel estimates that DOGE will be worth around $0.19 in 2025 before rising to $0.64 by 2030.
“The panel’s short-term predictions in July are significantly reduced compared to the results of the January survey when the panel saw DOGE ending 2022 worth $0.16 and $0.32 by 2025,” Finder noted. At the time of writing, the meme coin is trading at $0.070534.
A handful of experts on the panel said Tesla CEO Elon Musk is to blame for dogecoin’s popularity. Bitwave CEO Patrick White noted, “DOGE was a meme coin that really shouldn’t have gotten to this point. Thanks, Elon.”
Regarding whether it’s time to buy, sell or hold dogecoin, Finder said:
The majority of the panel believe it is time to get out of DOGE, with 71% saying sell. Only a quarter (24%) think you should hold on to what you have, and only 4% say it’s time to buy.
The panel includes university directors, heads of crypto exchanges, crypto research analysts and executives from various firms with crypto-related products.
Finder’s experts also recently made predictions about 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 rival meme cryptocurrency shiba inu (SHIB).
What do you think of Dogecoin’s price predictions from Finder’s expert panel? Let us know in the comments section below.
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