Experts in crypto have endorsed the decision to sell DOGECOIN. Experts predict DOGE’s value will plummet. 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: Dogecoin losing all value
Price comparison site Finder published Wednesday’s dogecoin price predictions. According to the platform, it uses weekly and quarterly surveys to make expert predictions about dogecoin’s future prices. 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. Concerning the date that dogecoin’s value will drop to zero, 3 percent said within the next year. 12% stated it would happen in the following year. 9% said it would occur in 2024. 30% predicted it would be lost completely by 2025.
“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
The majority of panel members were skeptical about the future of Dogecoin in the long term, but some of them were optimistic. Walker Holmes (co-founder, VP, Metatope) predicted that by the end of 2018, dogecoin would be worth $0.40. “DOGE has a great community but little utility. DOGE has the ability to attract a culture of content creators and creatives,” he opined.
Some experts are forecasting bullishly for dogecoin, pushing the average panel prediction 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. According to the panel, DOGE will be valued at $0.19 per annum in 2025 and rise 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. As of this writing, the price for the meme coin was $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.
It includes representatives from universities, executives in crypto exchanges and crypto research analysts as well as executives from various companies that offer 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). The panel had predicted in May that DOGE’s rival would die, the meme crypto shiba Inu (SHIB).
What do you think about dogecoin’s price predictions by Finder’s expert panel? Comment below.
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