A panel of experts has shared their price prediction for dogecoin for the end of the year as well as in 2025 and 2030. Individually, the experts are divided on the future price of the meme cryptocurrency. Some noted that the price of dogecoin is heavily dependent on Tesla CEO Elon Musk promoting it.
Experts Share Price Predictions for Dogecoin
Finder, a major product comparison website, published the result of its July 2021 survey on the price prediction of dogecoin last week. To determine if the meme cryptocurrency is “about to jump in price, or has this joke finally reached its use-by date … we asked our 42-expert panel what’s in store for the coin,” the company detailed.
The experts were asked about their price forecasts for dogecoin for 2025 and 2030. The company explained that according to the panel:
Doge should see its value hit an average value of US$1.21 by 2025 and US$3.60 by 2030, according to the panel average.
However, Finder pointed out that the high value was due to “one outlier pulling the average price way up.” The predictions for December 2030 range from $0 to $50, with the average being $3.60.
The predictions for December 2025 range from $0 to $10 with the average being $1.21. The highest prediction came from Brighton Business School’s senior lecturer, Paul Levy, who valued DOGE at $10. By comparison, “The median prediction for Doge by December 2025 is US$0.15,” the company noted, adding that ”30% of the panel sees Doge’s worth at US$1 or more in 2025.”
Some experts are pessimistic about the future price of dogecoin. Technologist and futurist for Thomson Reuters, Joseph Raczynski, said: “Dogecoin will eventually go to $0. There are at least 100 to 200 other crypto projects that should be worth more than DOGE.” He opined: “It’s amazing to witness what [one] celebrity can do.”
Dogecoin has gained much popularity over the past months, largely due to celebrity endorsement, such as Tesla CEO Elon Musk, who is also known as the “Dogefather.” Musk recently revealed that he personally owns dogecoin. Many new investors jumped into dogecoin as the price ballooned more than 10x during April and May from about $0.06 to over $0.72. The price at the time of writing is near $0.20.
As for dogecoin’s 2021 price prediction, Finder described:
While the one-time hot coin may have seen some high highs in 2021, the future doesn’t look as bright, with Doge’s value expected to end the year almost half its ATH at US$0.42.
The dogecoin price predictions for the end of the year range from $0 to $1, with the average being $0.42.
Finder found that roughly 15% of its expert panel, or 3 out of 20 panelists, who provided price predictions for dogecoin “expect the coin to crest at the elusive US$1 mark.”
University of Saskatchewan’s Ph.D. candidate, Ajay Shrestha, is a panel member who believes the price of the meme coin could reach $1 but “only if dogecoin receives continuous support from the Elon Musk … Otherwise, it wouldn’t get such hype.” Cake Defi CEO Julian Hosp also believes that dogecoin will be worth $1. Nonetheless, he said:
It will be a pump and dump.
Some experts on the panel were not as optimistic. Senior lecturer at the University of Canberra John Hawkins predicted that the price of dogecoin will only be $0.15 by the end of 2021. He explained:
Dogecoin seems largely dependent on Elon Musk’s erratic tweets. It is barely used as a payment instrument and has proved a very poor store of value.
Furthermore, the panel detailed: “It’s safe to say that the panel is out on Doge. 80% of the panel calls dogecoin a bubble, whereas 10% says that Doge isn’t a bubble, with the remaining 10% unsure.”
The panel includes representatives from Galia Digital, Allnodes, Wave Financial, Morpher, Cryptocompare, Coinsmart, Banz Capital, Arcane Crypto, Rouge International and Rouge Ventures, Celsius Network, Coingecko, Coinflip, Token Metrics, Thomson Reuters, Finder, Morgan Creek Digital, Zebpay, Amber, Decred, UCL, the University of New South Wales, City University of Hong Kong, and the University of Western Australia.
What do you think the price of dogecoin will be at the end of the year and in 2025? Let us know in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
