Majority See Dogecoin Losing All Value — ‘It’s Time to Get out of DOGE’ – Altcoins Bitcoin News

Finder's Experts: Majority Sees Dogecoin Falling to Zero — 'It's Time to Get out of DOGE'

A panel of crypto industry experts said now is the time to sell dogecoin. The majority of experts expect DOGE to completely lose its value. Dogecoin “was a meme coin that really shouldn’t have come to this,” said one of the panel experts, 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 prediction on Wednesday. The platform explained that it measures expert predictions about the future price of dogecoin using weekly and quarterly surveys. The latest quarterly survey, conducted in July, “asks a panel of 54 industry experts to give 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% think the cryptocurrency meme will rebound, and 24% said they weren’t sure. As for when the price of Dogecoin will lose all its value, 3% said it would happen within a year, 12% said next year, 9% see it happening in 2024, and 30% said stated that the crypto meme would completely lose its value by 2025 or later.

Finder Experts: Majority sees Dogecoin losing all value -
Expert answers to the question: “Do you think DOGE will completely lose its value?” Source: Finder’s dogecoin predictions.

“We’re a little bit off when people thought DOGE was going to the moon,” Finder described. “People are now more worried about staying here on Earth (read: going to zero), which more than half of the panel (55%) say will happen in the future. Only 1 in 5 (21%) sees DOGE bouncing back.

Dogecoin Price Predictions

While the majority of experts on the panel lack confidence in the long-term future of dogecoin, some of them remained 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 little utility. DOGE has the ability to attract a culture of content creators and creatives,” he said.

Bullish forecasts for dogecoin by some of the experts pushed the average panel forecast higher. Detailed Finder:

Dogecoin could see a modest increase in value in 2022, with Finder.com’s panel of fintech experts giving an average end-2022 forecast of $0.08. Going forward, the panel predicts that DOGE will be worth around $0.19 in 2025 before rising to $0.64 by 2030.

“The July panel’s near-term forecast is significantly down from the January survey results when the panel saw DOGE close 2022 worth $0.16 and $0.32 by 2025. “, noted Finder. 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 was responsible for dogecoin’s popularity. Bitwave CEO Patrick White said, “DOGE was a coin that really shouldn’t have gotten to this point. Thanks Elon.

As to whether it’s time to buy, sell, or hold dogecoin, Finder detailed:

The majority of the panel think it’s time to get out of DOGE, with 71% saying sell. Just under a quarter (24%) think you should hold on to what you have and just 4% say it’s time to buy.

The panel understand university principals, crypto exchange executives, crypto research analysts, and executives of various companies offering crypto-related products.

Finder experts have also recently made predictions on several other cryptocurrencies, including bitcoins (BTC), ether (ETH), gimbal (ADA), solana (GROUND), and piece of money (BNB). In May, the panel predicted death of DOGE’s rival, the shiba inu (SHIB) cryptocurrency meme.

What do you think of the dogecoin price predictions by Finder’s expert panel? Let us know in the comments section below.

Kevin Helms

An economics student from Austria, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests include Bitcoin security, open source systems, network effects, and the intersection between economics and cryptography.

Image credits: Shutterstock, Pixabay, Wiki Commons

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