A panel of experts has forecasted the price of meme cryptocurrency, Dogecoin. They have revealed their prediction for the end of the year, 2025, and 2030. The experts were of different views regarding the price of dogecoin. According to some of these experts, it depends on Tesla’s CEO Elon Musk how the price of dogecoin will increase/decrease in the coming days.
Price Prediction for Dogecoin
A production comparison website, Finder, has revealed the survey results conducted in July 2021, which revealed the future price of dogecoin. The main purpose of this survey was to figure out whether the meme cryptocurrency has a strong future. It is just a joke as it is meant to be. In the survey, the company asked the experts to predict the price of dogecoin for 2025 and 2030. On average, the panel forecasted that by the end of 2025, the value of dogecoin would be $1.21, and by the end of 2030, this value will increase up to $3.60.
Forecasted Price for 2030
The panel shared their mixed opinion on the price of dogecoin by the end of 2030. The price prediction ranged between $0 to $50, with the average prediction revealing that it would be $3.60 by the end of 2030.
Forecasted Price for 2025
For this period, experts predicted the price to go up from $0 to $10. The average price by the end of 2025 will be $1.21. A senior lecturer at the Brighton Business School, Paul Levy, predicted that the price by the end of 2025 would be $10. This was the highest prediction by any of the panel members. According to the company, 30& experts in the panel think that the value of dogecoin will be $1 or more by the end of 2025.
Forecasted Price for 2021
According to a statement from Finder, dogecoin has reached its highest value in 2021, but as for the future, it doesn’t look as bright as it was in 2021. By the end of this year, the value of dogecoin will be half its ATH at $0.42. Experts predicted this price in the range of $0 to $1, and the average forecasted value is $0.42.
The Reason Behind the Growth and Popularity of Dogecoin
In 2021, dogecoin has gained significant popularity, which eventually leads the meme currency to grow in value. The reason behind this popularity was the endorsement from Tesla and SpaceX CEO Elon Musk. Mr Musk associated himself with dogecoin and showed his interest in the meme cryptocurrency from time to time.
First, when his electric car company Tesla was accepting Bitcoin as payment for its electric cars, he tweeted regarding dogecoin payment. In the tweet, he asked his followers in a poll whether the company should accept dogecoin payment for its electric cars or not. 78% of people voted ‘yes. This spiked the value of dogecoin at the time. Later on, dogecoin creators also revealed that Elon Musk is working with them to improve the meme cryptocurrency.
Many experts in the panel believe that the value of dogecoin is highly dependent on support from Elon Musk. As this factor has affected the value of dogecoin in the past, it will impact the future.