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0 CommentsA panel of crypto industry experts expects Dogecoin (DOGE) to completely lose its value. Dogecoin “was a meme coin that shouldn’t have really gotten to this point,” experts said, blaming Tesla CEO Elon Musk for the popularity of the meme cryptocurrency.
On July 27, price comparison portal Finder updated its Dogecoin (DOGE) price predictions. 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 survey asked, “Do you think DOGE will completely lose its value?” 55% of respondents said yes, 21% believe the meme coin 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 explained. “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.”
(Source: Finder.com )
Although the majority of the experts on the panel do not have confidence in the long-term future of Dogecoin, some remained optimistic. As per Walker Holmes, co-founder and VP of Metatope, the price of Dogecoin could reach $0.40 by the end of 2022. “DOGE has a great community but little utility. DOGE has the ability to attract a culture of content creators and creatives,” he suggested.
“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,” Finder also noted, adding:
“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.”
DOGE was trading at $0.070534 by the time of writing.
Meanwhile, a handful of experts on the panel said Tesla CEO Elon Musk is to blame for Dogecoin’s popularity.
“DOGE was a meme coin that shouldn’t have really gotten to this point. Thanks, Elon,” noted Bitwave CEO, Patrick White.
“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,” Finder resumed.
Finder’s panel includes university directors, crypto exchange executives, crypto research analysts, and executives of various firms with crypto-related products.
The panel’s experts also recently made predictions about several other cryptocurrencies, such as Bitcoin, Ether, Cardano, Solana, and Binance Coin. This May, Finder also predicted the death of DOGE rival, the other meme coin Shiba Inu (SHIB).
