A panel of crypto industry experts says now is the time to sell dogecoin. Most of the experts expect Dogecoin to completely lose its value; Dogecoin “was a meme coin that really shouldn’t have gotten this far,” said one of the experts on the panel, blaming Tesla CEO Elon Musk for the meme cryptocurrency’s popularity.
Expert panel on Dogecoin losing all value
Price comparison portal Finder updated its price forecasts for Dogecoin (DOGE) on Wednesday. The platform explained that it uses weekly and quarterly surveys to gauge experts’ predictions on Dogecoin’s future price; the latest quarterly survey, conducted in July, “asked a panel of 54 industry experts about their thoughts on how Dogecoin will perform over the next decade. They were asked for their thoughts.”
The panel was asked, “Do you think Doge will completely lose its value?” asked, with 55% saying yes, 21% believing the meme cryptocurrency will bounce back, and 24% unsure. As for when DOGE coin prices will lose all value, 3% said it will happen within the year, 12% see it happening next year, 9% see it happening in 2024, and 30% said meme crypto will completely lose value after 2025.
“We are a bit removed from the days when people thought DOGE would go to the moon,” Finder explained.
“More than half (55%) are worried about staying on Earth in the future; one in five (21%) see DOGE getting back on its feet.
Dogecoin Price Predictions
While the majority of experts on the panel are not confident about Dogecoin’s long-term future, some remain optimistic. For example, Walker Holmes, co-founder and VP of Metatope, predicted that the Dogecoin price could reach $0.40 by the end of the year.” He opined that “DOGE has a great community, but it’s not very practical; DOGE has the power to attract content creators and a culture of creators.
The bullish forecast for dogecoin by some experts boosted the panel’s average forecast. Finder elaborated.
Finder.com’s panel of fintech experts has an average forecast of $0.08 at the end of 2022, and Dogecoin could see a modest increase in its value in 2022. Going forward, the panel predicts that Dogecoin will be worth about $0.19 in 2025, rising to $0.64 by 2030.
“The panel’s July short-term forecast is considerably lower than its January findings, which saw DOGE ending up being worth $0.16 in 2022 and $0.32 in 2025,” Finder noted. At the time of this writing, meme coins were trading at $0.070534.
A handful of experts on the panel said Tesla CEO Elon Musk is to blame for dogecoin’s popularity. Patrick White, CEO of Bitwave, said.” Doge was a meme coin that really shouldn’t have gotten this far. Thank you, Ilon.”
Finder elaborates on whether it’s time to buy, sell, or hold Dogecoin.
A majority of the panel thinks it’s time to get out of DOGE, with 71% saying sell; just under a quarter (24%) think it’s time to hold what you have, and only 4% say it’s time to buy.
The panelincludesuniversity directors, crypto exchange executives, crypto research analysts, and executives from various companies with crypto-related products.
Finder experts have recently made 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’s rival, the meme cryptocurrency Shibabu (SHIB).
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