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Experts of the price comparison site Finder have recently made price predictions for a number of cryptos such as Bitcoin (BTC), Ether (ETH), Binance Coin (BNB), Cardano (ADA), and Solana (SOL). This time, its panel of experts predicted a modest price increase for DOGE by the end of the year.
“Dogecoin may see a modest increase in its value in 2022, with Finder.com's panel of fintech specialists giving an average end of 2022 prediction of $0.08,” Finder said in its report. The site’s panel is composed of 54 industry experts that include crypto exchange executives, crypto research analysts, executives in companies offering crypto-related products, fintech experts, and university directors.
At the time of writing, DOGE traded at $0.07037 per coin based on Coinmarketcap data. This means that, on average, the experts predicted a nearly 14 percent price increase this year.
General partner at Panxora Hedge Fund Gavin Smith explains why he is bullish on DOGE and gave it a $0.24 prediction by the end of 2022. “While DOGE was launched as a joke coin, it has subsequently developed a large and loyal community,” he said. “Detractors of the token forget that community is at least as important as uniqueness in the crypto space.”
Meanwhile, MetaTope co-founder and VP Walker Holmes is less optimistic and gave DOGE an end-of-year price prediction of only $0.40. “DOGE has a great community but little utility. DOGE has the ability to attract a culture of content creators and creatives.”
However, many are concerned that the crypto might eventually lose its value. Thirty percent of the panel members believe that DOGE could lose its value by 2025 or later while 3 percent believe that it could even happen within the year. The report revealed that more than half of the experts expect the token’s price to go down to zero at some point in the future.
Meanwhile, 21 percent said that DOGE’s price could still bounce back. The rest (24 percent) is unsure.
‘The majority of the panel thinks it's time to get out of DOGE, with 71% saying sell,” Finder wrote. “Just shy of a quarter (24%) think you should hold onto what you've got and only 4% say it's time to buy.”
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