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Dogecoin is heading to zero, according to Industry Panel

The price of dogecoin (DOGE) is likely to head towards zero and never rise again, as predicted by the majority of members in a crypto industry panel surveyed by comparison site Finder.com.

According to the survey, the majority of panelists perceived that DOGE would lose its value at some point in the future.

We’ve eliminated a few small ways from the days when people thought DOGE would go to the moon,” the report said. “People are now more worried about it staying here on Earth (read: going to zero), which more than half of the panel (55%) think will happen at some point in the future. future.”

Meanwhile, 24% said they believe it will happen by 2024 or earlier, while 3% of the panelists even predict that DOGE will go to zero by the end of the year.

Source: Finder.com
Source: Finder.com

The survey results are probably specific to DOGE, considered the most popular and original meme coin. Coin memes are notoriously difficult to analyze and are mostly driven by trader hype.

Kevin He, CEO of fintech firm CloudTech Group, commented: “The birth of Dogecoin was originally a joke.

We believe that cryptocurrencies like Dogecoin, which are completely useless and whose value is completely backed by the community, will not gain value in the future.

However, looking at the average of the panelists’ specific price predictions, the coin, currently ranked 10th by market cap, could still survive and even rise in price over the next few years.

At year-end, the median response shows a DOGE price of $0.08, while $0.19 and $0.64 are considered likely price targets for late 2025 and 2030, respectively.

Gavin Smith, general partner of crypto hedge fund Panxora, explained the coin’s persistent popularity by saying,

Although DOGE was launched as a joke, it has since developed a large and loyal community. Opponents of tokens forget that community is at least as important as uniqueness in the crypto space.

Others, such as the non-fungible token (NFT) project MetaTope, co-founder of Walker Holmes, also point to the strong community surrounding the coin.

This is Elon [Musk]’s vision attached to the project, Doge has a great community but little utility. Doge has the potential to appeal to a culture of creators and content creators,” he said.

Finder.com’s latest short-term price prediction for dogecoin is down markedly from its previous prediction from January, when the board said the coin is likely to hit $0.16 by the end of the year and zero. 32 USD at the end of 2025 .

However, by the end of 2030, the console has dropped in price even more at the time, predicting a price of $0.54.

Source: Finder.com
Source: Finder.com

The majority of councils – or 71% – said they thought it was time to get out of DOGE and sell. 24% said investors should hold what they have, while just 4% said it was time to buy.

At 12:52 UTC on Friday, DOGE was trading at $0.0677, up 2.1% on the day and down 3.2% on the week. It is also up nearly 3% in a month, down 68% in a year, and down nearly 91% since its all-time high in May 2021.