Today, crypto enthusiasts are taking note of a regime change. Dogecoin (CCC:DOGE-USD) fell off the list of top 10 cryptos based on market capitalization (cap) Terra (CCC:MOON USD) in its place. Now, Terra’s market cap is currently $ 2.8 billion higher than Dogecoin. As a result, price predictions for Terra rise as crypto analysts digest what this could mean for Terra’s future.
According to the official website, Terra is “a public blockchain protocol that employs a series of algorithmic decentralized stablecoins that underpin a thriving ecosystem that DeFi is bringing to the masses.” LUNA is Terra’s native token and is used to stabilize the price of the protocol’s stable coins.
In the latest Terra News, the Hong Kong venture capital company Chiron partner announced that it has raised $ 50 million for the Chiron Terra Fund I. The fund will aim to create decentralized finance (DeFi) and metaverse non-fungible token (NFT) projects on the Terra blockchain.
While the majority of cryptocurrencies sold out in the past seven days, Terra has actually gone up. In fact, the LUNA token has increased 5% over the past week compared to Bitcoins (CCC:BTC-USD) 16% decrease in the same period. Additionally, Dogecoin is down 17% in the past week, allowing Terra to overtake it.
Expectations for the price of Terra are rising as analysts expect recent momentum to continue. This is how crypto analysts think of Terra price predictions.
Terra Price Forecasts: Will the momentum continue for LUNA?
- CoinTelegraph has a short-term price prediction of $ 100. This corresponds to an increase of 49% compared to the current prices. Analyst Yashu Gola believes Terra is currently trading a bullish pennant, which is usually a sign of a continuation of the bullish trend. Gola argues that once Terra breaks the pennant, it will quickly jump to $ 100.
- Wallet Investor has a price prediction for 2026 of $ 442.80. Impressively, this price prediction represents an upward trend of 563%. The price prediction is based on indicators of technical analysis and trend lines.
- Digitalcoin has a price prediction for 2026 of $ 237.79. This forecast corresponds to an upward trend of 255%. Digitalcoin developed its price prediction based on historical data and its own proprietary algorithm.
- CoinsKid has a price prediction for 2025 of $ 289.34. Hence, this prediction implies an upside potential of 333%. The forecast is based on CoinKid’s proprietary “Forecast System”.
- Trading Beasts has a price prediction for 2024 of $ 98.91. This corresponds to an increase of 48.2%. Trading Beasts developed this price prediction based on “historical data and using a combination of linear and polynomial regressions”. However, Trading Beasts has a year-end 2021 price target of $ 60.34, which would be a 9% loss.
At the time of this writing, Eddie Pan held positions (neither directly nor indirectly) in the securities discussed in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com’s posting guidelines.