A panel of crypto industry experts says now is the time to
sell dogecoin. The majority of the experts expect DOGE to completely
lose its value. Dogecoin “was a meme coin that shouldn’t have really
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 Wednesday. The platform explained that it measures expert
predictions of the future price of dogecoin using weekly and quarterly
surveys. The latest quarterly survey, conducted in July, “asks 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 completely lose its
value?” 55% said yes, 21% believe the meme cryptocurrency will bounce
back, and 24% said they were unsure. Regarding when the price of
dogecoin will lose all of its 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 little ways removed from the days when people thought DOGE
was going to the moon,” Finder described. “People are now more worried
about it staying here on Earth (read: going to zero), something that
over half the panel (55%) say will happen at some point in future. Just 1
in 5 (21%) see DOGE bouncing back.”
Dogecoin’s Price Predictions
While the majority of the 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 year-end. “DOGE has a
great community but little utility. DOGE has the ability to attract a
culture of content creators and creatives,” he opined.
Bullish forecasts of dogecoin by some of the experts have pushed the average panel predictions upward. Finder detailed:
Dogecoin may see a modest increase in its value in 2022,
with Finder.com’s panel of fintech specialists giving an average end of
2022 prediction of $0.08. Going forward, the panel projects DOGE to be
worth around $0.19 in 2025 before rising to $0.64 by 2030.
“The panel’s July short-term predictions are down considerably
compared to the January survey results when the panel saw DOGE closing
out 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 remarked:
“DOGE was a meme coin that shouldn’t have really gotten to this point.
Thanks, Elon.”
Regarding whether it’s time to buy, sell, or hold dogecoin, Finder detailed:
The majority of the panel thinks it’s time to get out of
DOGE, with 71% saying sell. Just shy of a quarter (24%) think you should
hold onto what you’ve got and only 4% say it’s time to buy.
The panel includes
university directors, crypto exchange executives, crypto research
analysts, and executives of 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, the meme cryptocurrency shiba inu (SHIB).
source link : https://news.bitcoin.com/finders-experts-majority-sees-dogecoin-falling-to-zero-its-time-to-get-out-of-doge/
