A panel of crypto industry experts says now is the time to sell Dogecoin. Most experts expect DOGE to lose its value completely. Dogecoin “was a meme coin that really shouldn’t have reached this point,” said one of the panel’s experts, blaming Tesla CEO Elon Musk for the popularity of the meme cryptocurrency.
Expert Panel on Dogecoin Is Losing All Value
Price comparison portal Finder updated its Dogecoin (DOGE) price forecast on 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 views 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% believed the meme cryptocurrency would bounce back, and 24% said they were unsure. When the price of Dogecoin will lose all of its value, 3% said it will happen within the year, 12% said the next year, 9% saw it in 2024, and 30% said that mem crypto would completely lose its value. Will lose in 2025 or later.
“We’re a little far from the days when people thought DOGE was going to the Moon,” Finder described. “People are now more concerned about living it on Earth (read: going to zero), something that more than half of the panel (55%) say will happen at some point in the future. Only 1 in 5 (21) %) Watch DOGE bounce back.”
Dogecoin Price Prediction
While most of the experts on the panel are not confident in the long-term future of Dogecoin, some of them remained optimistic. For example, Metatop co-founder and VP Walker Holmes 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 potential to attract content creators and a culture of creatives,” he said.
Dogecoin’s bullish predictions by some experts have pushed the average panel forecasts upward. Finder Detailed:
Dogecoin may see a slight increase in value in 2022, with Finder.com’s panel of fintech experts forecasting an average end of 2022 of $0.08. Going forward, the panel estimates the price of DOGE to be around $0.19 in 2025 and to increase to $0.64 by 2030.
“The panel’s July short-term predictions are significantly lower than the January survey results, when the panel saw DOGE closing with a price of $0.16 and $0.32 by 2022,” Finder said. At the time of writing, Mem 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 commented: “DOGE was a meme coin that really shouldn’t have reached this point. Thanks, Elon.”
On whether it’s time to buy, sell or hold Dogecoin, Finder detailed:
Most of the panelists think it is time to exit DOGE, with 71% saying sell. Only 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 from various firms dealing with crypto-related products.
Finder experts have 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 crypto Shiba Inu (SHIB).
What do you think about Dogecoin’s price predictions by Finder’s expert panel? Let us know in the comments section below.
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