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Monday, August 15, 2022

Dogecoin Healing Towards Zero: Industry Panelists Shares

The cost of Bitcoin is steadily increasing. It continued to trade strongly over the $22,000 trend line. It established a base at $22,500 and began a The majority of participants in a crypto industry panel questioned by comparison website Finder.com projected that the price of dogecoin (DOGE) would likely decline to zero and never rise again.

According to the survey, the majority of participants believe that DOGE will eventually lose all of its value. Price can pick up steam and move just above the $23,000 area of resistance.

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Three percent of the panelists even projected that DOGE would have reached zero by the conclusion of this year, while 24 percent indicated they thought it would happen by 2024 or before.

Industry Panelists Say Dogecoin Might Lose Value 

The poll results may be typical of Dogecoin, which is thought to be the most well-known and initial so-called meme coin. Meme currencies are notoriously challenging to understand and are mostly influenced by the emotion of hype traders.

However, based on the median of the panelists’ price forecasts, the coin, which would be presently placed 10th by market value, may continue to exist and potentially experience price growth over the coming several years.

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The average response suggested that the price of Dogecoin will be USD 0.08 by the end of the year, with USD 0.19 and USD 0.64 being considered as likely target prices for the ends of 2025 and 2030, respectively.

Seventy-one percent of the panelists agreed that they thought it was time to sell their DOGE holdings. Only 4% of respondents felt it was time to buy, while 24% advised investors to keep onto what they already own.

DOGE was trading at USD 0.0677 at 12:52 UTC on Friday, up 2.1 percent for the day but down 3.2 percent for the week. It has also increased by approximately 3% during the past month, declined by 68 percent over the past year, and fallen roughly 91 percent from its peak in May 2021.

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