August 17, 2022


Dogecoin was one of the most prominent cryptocurrencies in 2021 to make a significant rally. The digital asset was in deep obscurity before Elon Musk started his legendary shilling spree, and with the backing of one of the richest men in the world, the price of Dogecoin soared to $0.7. The meme coin has since lost most of that value, with investors hoping it might take another round, but the Finder board appears to have other ideas.

Dogecoin will continue to struggle

Finder boards are known for bringing a number of experts in the industry together to share their thoughts on a particular asset, then their forecasts are taken together and presented with an average. One of the newer Finder boards focused on the meme currency, Dogecoin, provided its predictions regarding the digital asset. The survey consisted of fintech professionals who gave a very bearish view of the meme coin.

Related reading: Ethereum Merge: Past, Present, and Future

According to the authorityThey don’t see Dogecoin ever regaining its high value anytime soon. Instead, they expect the digital asset to continue the trend at its current low prices and only put it at a redemption point of just $0.07 at the end of 2022.

In addition, in the long-term, the commission produced that Dogecoin would only be able to reach $0.19 in 2025, a prediction that the altcoin would only be able to make a double in the next three years. These forecasts are more conservative than the previous forecasts made by the committee.

Dogecoin price chart from TradingView.com

DOGE trending at $0.06 | Source: DOGEUSD on TradingView.com

Back in January, Finder experts said they saw the altcoin price reach $0.16 by the end of 2022. However, they now believe that the digital asset will hit $0.64 in 2030, which is 8 years from now.

Will DOGE follow these expectations?

Dogecoin’s trajectory over the past year has been similar to a downtrend. At this point, the cryptocurrency has lost more than 80% of its all-time high value, so bearish forecasts from the Finder board are no surprise because of that.

Related reading: How summer turns into a short-lived Altcoin season

However, looking at where Dogecoin comes from shows that digital assets often have a mind of their own. Its amazing rise in 2021 made it one of the top 10 cryptocurrencies, and it managed to maintain this title even after dropping a lot.

There is every chance that the commission might be right in its analysis but with another rally expected to happen with the next bitcoin halving, and Elon Musk refusing to withdraw his support for the meme coin, it maintains a strong position in the crypto community.

Featured image from How-To Geek, chart from TradingView.com

Follow Best Owie on Twitter For market insights, updates, and sometimes funny tweets…





Source link

Leave a Reply

Your email address will not be published.