• The Finder’s Expert Panel predicts that the ‘Pump and Dump’ DOGE will reach $0.42 by the end of 2021

  • Dogecoin (DOGE) is expected to reach $0.42 by the end of the year, according to the average panel forecast in Finder’s Dogecoin price predictions report, but any gains may be fleeting.

    In fact, the vast majority of the panel (80 percent) believes DOGE is a speculative bubble.

    DOGE prices, according to Morgan Creek Digital general partner Xavier Segura, are propped up by public perception and lack real utility.

    “There is no doubt that public perception has played a significant role in crypto pricing. However, perception does not equal intrinsic value, where utility and developer community support are two key tenets of value,” he explained.

    Forrest Przybysz, senior cryptocurrency investment analyst at Token Metrics, believes DOGE will grow in lockstep with the rest of the market, followed by “violent speculative pumps” similar to those seen previously.

    Some panelists believe DOGE prices will fall as soon as this year, with just over half of those who believe the currency will fall (55 percent) also believing it will happen in 2021. Meanwhile, 42 percent believe it will occur in 2022, while 3 percent believe it will occur in 2023.

    According to John Hawkins, a senior lecturer at the University of Canberra, DOGE will be worth $0.15 at the end of the year and $0.05 at the end of 2025. He is also one of six panelists who believe DOGE will be worth nothing by 2030.

    “Dogecoin appears to be heavily reliant on Elon Musk’s erratic tweets. It is rarely used as a payment instrument and has proven to be a very poor store of value, according to Hawkins.

    However, a few panelists are far more optimistic about the coin’s end-of-year prices. Cake DeFi CEO Julian Hosp and Trade the Chain co-founder Ryan Gorman forecasted $5 and $3 price increases for 2030, respectively, citing “pump and dump” as the reason for potential price gains.

    Gorman even stated that “con artists will continue to pump and dump this scam coin until it is outlawed.”

    Decred’s international operations lead, Jonathan Zeppettini, also stated that DOGE is subject to pumps and dumps.

    “Anyone who speculates on it should not be surprised if they lose money. After all, it’s a Doge-themed meme coin that was made in a matter of hours,” he explained.

    Ajay Shrestha, a PhD candidate at the University of Saskatchewan, believes DOGE will end the year at the much-anticipated $1 level, but with a caveat: this will only happen if Elon Musk continues to support DOGE.

    “Only if Elon Musk continues to support Dogecoin. Otherwise, it wouldn’t have gotten so much attention,” he explained.

    Desmond Marshall, managing director of Rouge International, made a similar connection, implying that in order to predict the price of DOGE, it is necessary to monitor what Musk and Redditors are saying about the coin.

    Just under half of the panelists (46 percent), including University of East London senior lecturer Dr. Iwa Salami, believe the success of DOGE and other meme coins is undermining the legitimacy of the cryptocurrency market, while 15% are unsure.

    “The simple question is, what is Dogecoin contributing to the improvement of businesses, services, and ordinary people’s lives?” Is it capable of making a useful contribution in this way in the future?” Salami stated. “If the answer is no, but the price continues to be driven by who talks it up or down, this is undoubtedly damaging to the credibility of the crypto asset industry.”

    Sarah Bergstrand, COO of BitBull Capital, agrees with Salami that coins with little to no utility or use cases will lose value over time and harm the image of real assets with real value.

    Origin Protocol founder Josh Fraser is a contrarian, one of the 38% who do not believe DOGE or other meme coins are undermining the legitimacy of the cryptocurrency market.

    “Everything is a meme,” says the narrator. Social consensus determines all value. And, whether you like it or not, the consensus is that DOGE has value,” he said.

    Fred Schebesta, the founder of Finder, feels the same way.

    “Bitcoin reigns supreme as a store of value. DOGE is the most popular meme. No other blockchain has claimed a throne for the cause it represents. Whether you like it or not, DOGE is here to stay, even if it’s just for a good laugh among long-term crypto enthusiasts. The cryptocurrency market is unconcerned about whether or not people understand, support, or oppose legitimacy. It only speaks in terms of money, innovation, and adoption,” he explained.

    A few panelists, including Matthew Shillito, a lecturer in law at the University of Liverpool, and Imran Yusof, an FX/crypto market strategist at Quantum Economics, are unsure.

    Yusof stated it this way:

    “As far as I’m concerned, Dogecoin is a commodity that people are willing to trade – as long as they can trade in Dogecoin and earn profits in the form of the day’s legal tender. It depends on which newspaper you read whether it undermines the legitimacy of the crypto market.”

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