Finder’s Experts Predict Dogecoin Will Reach .16 This Year, Panelist Says ‘Luster Will Wear Off as Meme Coins Lack True Utility’
Panelists from the product comparison platform Finder’s dogecoin price prediction report say that the popular meme-based cryptocurrency will reach $ 0.163 per unit in 2022. Finder’s recent poll concerning dogecoin’s forecasted price leverages 33 experts and by 2025, the panelists say dogecoin is expected to reach $ 0.316 per unit.
Finder’s Dogecoin Prediction Report Shows a Lower Forecast Than the Panel’s Prediction in July 2021
The product comparison website finder.com published a new prediction report concerning the meme-based crypto-asset dogecoin (DOGE). The web portal has published a myriad of prediction reports in the past, covering crypto coins like cardano (ADA), ethereum (ETH), and bitcoin (BTC).
Moreover, back in July 2021, Finder’s expert panelists predicted dogecoin’s value would reach $ 0.39 per unit by year-end 2021. This month’s DOGE prediction is a lot different and significantly lower than the July forecast.
In fact, by the end of 2022, the panelists predict that dogecoin will only accrue 16.5% in value from its current price point reaching $ 0.163 per unit. Presently, dogecoin is trading for $ 0.132 which is lower than when the Finder’s researchers recorded the value at $ 0.14 per DOGE on February 2, 2022.
Finder’s report authors Tim Falk and Richard Laycock highlight that the future outlook of dogecoin’s value has changed a great deal among participating panelists. “Around the time of our last survey, many people thought that DOGE was going ‘to the moon’ and cresting the $ 1 mark, but our panel was fairly skeptical about the coin’s ability to hit that milestone,” Falk and Laycock’s report notes.
The Finder’s dogecoin prediction report continues:
Since then, their long-term outlook on the coin’s future has waned, expecting its value to hit $ 0.32 by 2025 and $ 0.54 by 2030, compared to its previous expectations of $ 0.57 by 2025 and $ 0.92 by 2030.
Finder’s Experts Explain the Reasons Behind the Latest Dogecoin Predictions
Dogecoin has been down in value as the crypto asset shed 12.6% during the last seven days. Despite this, year-to-date metrics indicate that dogecoin (DOGE) has increased by 147.9% against the U.S. dollar. DOGE has a market valuation of around $ 17.5 billion, making it the 13th largest crypto market capitalization.
At the time of writing, the meme-coin’s market cap represents 0.96% of the $ 1.8 trillion crypto economy. Meanwhile, Finder’s panelists had various opinions concerning dogecoin’s future outlook in terms of value.
“It shouldn’t be underestimated in the world of cryptocurrency where breaking traditional methods for identifying value is a cherished past-time,” Fred Schebesta, Finder’s founder said in a statement. Schebesta believes DOGE will tap $ 0.25 by the end of 2022. “Investors can likely sit tight knowing that while there will be more, and others will come and go, DOGE will forever be the original,” Schebesta added.
Joseph Raczynski, a technologist and futurist from Thomson Reuters, agrees with finder.com’s founder. Raczynski predicts that dogecoin can reach $ 0.50 by the end of 2022 and also tap $ 1 per unit by the end of 2025. “It is only worth something because people want to believe in it,” Raczynski remarked.
Despite a few positive dogecoin believers, other panelists from Finder’s poll believe meme-based assets, in general, will become lackluster to investors in the future. Vanessa Harris, Permission’s chief product officer, thinks this will be the case and the value of DOGE will sink. Although, she also noted that meme coin cryptocurrencies like dogecoin will likely survive.
“DOGE, SHIB, and others captured the imagination of first-time crypto investors. In 2022 we will see the luster wear off as meme coins’ lack of true utility causes investors to seek more fruitful investments. The dog coins may not survive in the top 100, but they will always have a place in our hearts for the memes and camaraderie they inspired,” Harris stated in the Finder’s report.
What do you think about the dogecoin predictions by Finder’s expert panelists? Let us know in the comments section below.