Dogecoin was one of the most prominent cryptocurrencies in 2021 to go on a remarkable rally. The digital asset had been much in obscurity before Elon Musk had begun his legendary shilling spree, and with support from one of the richest men in the world, Dogecoin’s price had risen to as high as $0.7. The meme coin has since lost most of that value, though, with investors hoping that it makes another run, but a Finder’s panel seems to have other ideas.
Dogecoin Will Continue To Struggle
Finder’s panels are known for bringing a number of experts in an industry together to share their thoughts around a particular asset, and then their forecasts are taken together and presented with a median. One of the most recent Finder’s panels has focused on the meme coin, Dogecoin, giving their forecasts regarding the digital asset. The poll consisted of fintech specialists who gave a very bearish outlook on the meme coin.
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According to the panel, they do not see Dogecoin reclaiming its all-time high value anytime soon. Instead, they expect the digital asset to continue trending at its current low prices and only put it at a recovery point of only $0.07 at the end of 2022.
Additionally, for the longer term, the panel produced that Dogecoin would only be able to make it to $0.19 in 2025, which is a prediction that the altcoin will only be able to do a 2x in the next three years. These predictions come out more conservative than the previous predictions that were given by the panel previously.
DOGE trending at $0.06 | Source: DOGEUSD on TradingView.com
Back in January, Finder’s experts had said they saw the price of the altcoin reaching $0.16 by the end of 2022. However, now they believe that the digital asset will reach a price of $0.64 in the year 2030, 8 years from now.
Will DOGE Follow These Forecasts?
Dogecoin’s path over the last year has been one wrought with a downtrend. At this point, the cryptocurrency has lost more than 80% of its all-time high value, so the bearish outlook from the Finder’s panel is no surprise due to this.
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However, looking at where Dogecoin is coming from shows that the digital asset can often have a mind of its own. Its incredible rally in 2021 made it one of the top 10 cryptocurrencies, and it has managed to maintain that title even after falling so much.
There is every possibility that the panel may be right with their analysis but with another bull rally expected to happen with the next bitcoin halving, and Elon Musk refusing to withdraw his support for the meme coin, it retains a strong standing in the crypto community.
Featured image from How-To Geek, chart from TradingView.com
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