Degen is a recently launched layer-3 blockchain focusing on community engagement and rewards. It allows users to reward quality content with DEGEN tokens on the ‘Farcaster’ platform. It aims to provide a more efficient and interconnected blockchain ecosystem.
This article offers a Degen price prediction from 2024 to 2030 and decodes its recent price trends to help buyers make well-informed decisions. It also discusses the opinions of other expert analysts who help buyers get a full view of Degen’s potential.
Degen Coin Price Prediction 2024-2030: Summary
- End of 2024: At the end of 2024, DEGEN is likely to maintain its bullish trend due to its recent launch, and after a year of increased user activity, the price may reach $0.1. The growth can be attributed to the token’s utility within the Farcaster ecosystem and a positive attitude toward Layer 3 platforms.
- End of 2025: With Layer 3 blockchains getting more attention in the market and Degen Chain’s unique community-focused features, DEGEN may rise to $0.28 by the end of 2025.
- Long-Term Outlook: As the global blockchain market grows and more users join the platform, it could grow massively. However, the long-term adoption of layer 3 is yet to be seen. As a result, some analysts have taken a rather cautious approach to predicting the Degen token’s 2030 price.
Year
Potential Low
Average Price
Potential High
2024
$0.008
$0.05
$0.1
2025
$0.09
$0.16
$0.28
2030
$0.9
$1.2
$1.85
Degen Price History
Degen is a popular new token that has caught investors’ attention since its recent launch (on March 28). It is important to understand DEGEN’s price history to make well-informed decisions.
Key Points:
- Launch and Initial Surge: The token’s launch price was around $0.002. Its price surged to an all-time high of $0.06 on 31 March after an explosive bull run. It saw an over 3000% return on investment (ROI) within just over a week of its launch. This growth aligned with the broader market optimism surrounding meme tokens.
- Ascending Channel: This price movement has also formed a classic ‘ascending channel’ on DEGEN’s 12-hour chart. This pattern shows buyers have been consistently willing to pay higher prices over time, increasing the token’s value. Moreover, the overall investor sentiment toward Bitcoin turned favorable as the market finally broke out of its bearish tendencies.
- Break Above 20-EMA: At press time, DEGEN’s price was above its 12-hour 20 Exponential Moving Average (EMA) after witnessing a strong buying momentum. The EMA acts as a dynamic support level and prices above the EMA typically show a bullish trend.
- Chances of a correction: The ascending channel pattern also shows a risk of correction despite the bullish signals (ascending channels can signal overbought conditions leading to price pullbacks). Any fall below the $0.03 support level could see a short-term downtrend before a likely rebound in favor of the bulls.
DEGEN Price Summary:
- DEGEN token launched at $0.002 and quickly rose to a new all-time high of $0.06 within a week.
- The price chart formed an ascending channel and broke above the 12-hour 20-EMA.
- Degen could see a correction in the near term if the price falls below the $0.03 support level.
Understanding Ascending Channels
An ascending channel is a technical analysis pattern characterized by two parallel upward-sloping lines. It shows that the asset’s price is moving within a rising channel. However, traders should be cautious as ascending channels can confirm overbought conditions, potentially leading to a price correction.
Degen Price Prediction For 2024
While the broader market is showing strong signs of a recovery, many buyers are looking for the best cryptos to trade right now. Degen is a recently launched ERC-20 token showing a high upside potential after witnessing a successful launch.
The DEGEN token surged by nearly 160% over the past week and outperformed the global crypto markets (which declined by 5% during this time.) In fact, the token even beat similar meme tokens’ performance, which were down by nearly 4.5% in the last week.
Degen has revolutionized the Farcaster ecosystem by allowing users to reward quality content with DEGEN tokens. This points system acknowledges unique contributions, linking online activities to tangible value.
It is worth noting that the project is fully community-focused and had initially airdropped 15% of its supply to active members of Farcaster’s Degen channel. Additionally, There are plans to eventually distribute 70% of the total supply to increase community engagement.
Degen’s utility within the Farcaster network and its growing community support show potential for even more growth. As a result, Degen could see high gains relatively early and reach $0.1 by the end of 2024.
Many other analysts have also shown a relatively optimistic outlook. For instance, Digital Coin Price predicts Degen could reach $0.0985 by 2024’s end.
Month-on-Month Degen Price Prediction:
Month
Potential Low
Average Price
Potential High
May 2024
$0.008
$0.045
$0.055
June 2024
$0.01
$0.048
$0.059
July 2024
$0.013
$0.051
$0.062
August 2024
$0.015
$0.053
$0.064
September 2024
$0.016
$0.055
$0.066
October 2024
$0.018
$0.057
$0.068
November 2024
$0.02
$0.059
$0.075
December 2024
$0.04
$0.07
$0.1
Degen Price Prediction For 2025
Degen could continue to see its uptrend in 2025, especially as the market seems more receptive to layer 3 blockchains. Degen Chain is an “ultra-low-cost” Layer 3 blockchain specifically designed for the Degen community.
The chain combines “Arbitrum Orbit” for execution, “Base” for settlement, and “AnyTrust” for data availability and is meant to offer economically viable, efficient DEGEN transactions and DEGEN applications.
Using DEGEN as the native gas token for the Degen Chain is a significant milestone. Degen Chain is one of the first projects where a community token has its dedicated L3 infrastructure.
The release of Degen Chain has so far attracted 132,000 addresses, seeing a total of 4.15 million completed transactions. Meanwhile, Degen Chain has deployed 7500 contracts, 290 verified, and launched over 2300 tokens. This shows the community’s involvement in the chain and the potential for additional growth.
Degen Chain is also preparing to launch new experiments for the community. The experiments include tipping, rewards, fees, gaming, and more payments.
Moreover, many analysts are quite optimistic about another bull in 2025, with predictions suggesting that Bitcoin could reach $200,000 by September 2025. This growth could have a domino effect on cryptos like Degen.
As a result, DEGEN could potentially reach $0.28 by the end of 2025. This growth could be mainly due to the expected upgrades and the likely positive trajectory of the crypto market. On the other hand, CoinDataFlow suggests an even more optimistic Degen coin forecast at $0.37.
What is a Layer 3 Blockchain?
Layer 3 blockchains are the third layer in the blockchain stack built on top of Layer 2 (which improves the scalability and efficiency of Layer 1, the main blockchain). Layer 3 essentially provides interoperability and connectivity between blockchains and Layer 2 solutions.
It acts like a bridge to allow various blockchains to communicate and exchange data easily. This layer is important for creating an ecosystem where different blockchains can work together and can lead to new applications and use cases.
Degen Price Forecast Long-Term Outlook – 2026-2030 Predictions
The global blockchain market will see massive growth in the coming years. Valued at just $11.14 billion in 2022, it is expected to surge to over $469 billion by 2030 with a CAGR of nearly 60%. This creates a big opportunity for Degen Token to increase its utility and leverage this growth.
The Degenmovement began on Farcaster (an Ethereum layer-2 social network) and attracted many software developers and crypto enthusiasts, including Ethereum co-founder Vitalik Buterin.
Some factors that contribute to Degen’s long-term growth:
- Community-focused Innovation: Degen Chain stands out for its focus on community-centricity and innovation. Its purpose is to meet the many demands of customers of the chain and to build a favorable atmosphere for continuous experimentation and exploration.
- Exciting Opportunities: Degen Chain offers many opportunities for users and developers, from tipping mechanisms and community rewards to payments and gaming. It aims to offer an exciting playground where users can safely experiment with their money.
- Support for Developers: The infrastructure partner for Degen Chain, Syndicate, provides free gas for developers and Transaction Cloud APIs as part of a free plan. The solution advances developers in building and testing new applications on the chain.
However, the long-term success of Degen and similar Layer 3 solutions is not without challenges. Vitalik Buterin recently expressed skepticism about Layer 3’s ability to improve Ethereum’s network throughput significantly.
He pointed out that Layer 3 solutions can offer privacy features and reduce some fixed costs but they do not inherently address Ethereum’s core scalability issues.
Potential Price Trajectory
- CoinDataFlow’s Prediction: CoinDataFlow expects a growing trajectory for DEGEN from 2026 to 2029, potentially rising to $0.63 by 2029. However, it predicts a decline in 2030 to around $0.4.
- AMBCrypto’s Bullish Stance: AMBCrypto was massively optimistic and its Degen price prediction for 2030 suggested it could cross $8.
It is worth considering the overall market trends and Bitcoin sentiment when looking for the best long-term investments.
Potential Highs & Lows of Degen Coin
Here’s a quick overview of the Degen price forecast from 2024 to 2030:
Year
Potential Low
Average Price
Potential High
2024
$0.008
$0.05
$0.1
2025
$0.09
$0.16
$0.28
2030
$0.9
$1.2
$1.85
What do Other Analysts Predict for Degen Coin?
As we dive into the Degen token price prediction for the coming years, it is important to remember that these are based on current data and market trends. The crypto market is quite volatile, and such predictions do not guarantee future performance.
So, buyers must do their own research and consider these predictions as part of a broader analysis before making investment decisions.
Digital Coin Price provides a detailed Degen crypto price prediction, showing a consistent increase in its value over the coming years:
- In 2024, they foresee Degen’s price ranging from a minimum of $0.0390 to a maximum of $0.095, with an average price of $0.0924.
- By 2025, the prediction goes higher, with the figures adjusting to a minimum of $0.0931, an average of $0.11, and topping at $0.11.
- Looking further ahead to 2026, the minimum price is expected to hit $0.13, with an average of $0.15 and a maximum of $0.16.
- The upward trend is anticipated to continue through 2030, where the minimum price could reach $0.29, with both the average and maximum prices potentially hitting $0.32.
CoinDataFlow offers a slightly more variable forecast and suggests a mix of fluctuating lows and highs:
- For 2024, they predict a minimum price of $0.042 and a maximum of $0.096.
- The predictions for 2025 change considerably, suggesting a minimum of $0.088 and a maximum soaring to $0.373.
- By 2029, the platform says it could grow massively, with a minimum price of $0.167 and a potential high of $0.639.
- However, the prediction moderates to a minimum of $0.092 and a maximum of $0.317 for 2030.
AMBCrypto takes a more bullish stance and projects exponential growth for Degen:
- They expect that in 2024, Degen could range between $0.075 (low) and $0.11 (high), with an average price of $0.093.
- Their forecast for 2025 shows an increase, with prices expected to range from $0.15 (low) to $0.23 (high), averaging at $0.19.
- By 2026, AMBCrypto predicts an average price of $0.4, with a low of $0.32 and a high of $0.48.
- Their projections peak in 2030, with an ambitious average price of $7.33, lows potentially reaching $5.86, and highs rising to $8.79.
What is Degen Coin, and What is it Used for?
Degen (DEGEN) is a recently launched layer-3 blockchain that has caught investors’ attention. After leaving his previous role in November, Jacek Trociński (a former data engineer and architect at Hedgehog Technologies) conceptualized this project. His growing involvement in Farcaster, particularly in the Degen channel, laid the groundwork for building the Degen Chain.
Originally, the degen space on Farcaster was not widely popular and was mostly occupied by builder personas. The dynamics began to shift in December with the launch of a points token that added a new layer of engagement and interaction within the community.
Degen Chain is built as a layer-3 blockchain that uses the Base layer-2 scaling solution.
Key Features:
- DEGEN Token Focus: The DEGEN token is at the heart of the platform. It is the main transaction medium and can potentially offer token holders governance rights.
- Low-Cost Transactions: It offers users faster and more affordable transactions than the Ethereum mainnet by leveraging the Base layer-2 solution.
- Community-Centric Approach: Degen Chain focuses on meeting the needs of its community. It provides user-friendly features and integrates with popular decentralized finance (DeFi) applications.
- Increased Efficiency: Users can expect quicker and cheaper transactions that help with some of the Ethereum network’s congestion issues.
However, Degen Chain’s security measures are yet to be thoroughly tested as a relatively new project. Many experts have raised concerns about the potential security vulnerabilities deriving from underlying layers.
The platform has a total supply of 37 billion tokens. Roughly 70% of these tokens are set aside for the community’s benefits. Around 15% is allocated for creating a liquidity pool, while the remaining 15% supports the development team, investors, and the broader ecosystem. There will also be a 1% inflation rate starting from 2028.
Moreover, buyers can earn points by providing liquidity to the Uniswap V3 DEGEN/WETH pool (which operates with a 0.3% fee tier). The next opportunity to claim points is set for April 11, 2024. However, it’s important to note that adding liquidity does involve the risk of ‘impermanent loss.’
What is Impermanent Loss?
Impermanent loss occurs when providing liquidity in a decentralized exchange’s liquidity pool, and the price of your deposited assets fluctuates (or decreases) compared to when deposited. This can result in a temporary loss compared to simply holding the assets. Liquidity providers must understand this risk, especially in volatile markets.
Degen Coin Overview
Cryptocurrency
Degen
Ticker Symbol
DEGEN
Price
$0.042
Price Change 24H
-7.19%
Market Cap
$604,277,416
Circulating Supply
14,179,608,879 DEGEN
Trading Volume
$109,395,521
All-Time High
$0.06459
All-Time Low
$0.01316
Is Degen a Buy?
DEGEN has seen impressive growth since its relatively recent entry into the market. This high initial investor enthusiasm and its connection to the Farcaster community also highlight DEGEN’s high upside potential.
The token’s integration into the Farcaster ecosystem to reward quality content adds actual utility beyond speculative trading.
This utility and the token’s community-focused tokenomics show a sustainable growth mechanism driven by actual use cases rather than mere speculation. However, historical performances of similarly volatile assets show that initial surges don’t guarantee long-term stability.
Moreover, the break above the 20-EMA and the ascending channel shows a strong bullish advantage. Nonetheless, the potential for a near-term reversal exists. Potential investors should consider the overall investor sentiment toward the token before making any buying decisions.
The actual impact of Layer 3 solutions on the ecosystem and their adoption is yet to be seen. The planned upgrades and developments within the Degen ecosystem will be crucial to growth over time. Bitcoin’s trajectory and the general crypto market trends will also play an important role in the Degen price prediction.
Conclusion
The DEGEN token has seen an impressive rally since its recent launch. The broader market sentiment toward meme tokens and Layer 3 solutions will heavily influence DEGEN’s performance in the coming months and years.
Will Degen’s future trends be positive? While some analysts have an optimistic view of the future trend, given technological progress and market growth, others believe that it is important to have a balanced investment strategy. In any case, investors should diversify risks.
Nevertheless, choosing promising projects from over 15,000 active cryptos can be challenging. That’s why we have compiled a list of cryptos that have actual utility on our ‘Best Cryptos’ page. You can simply click the link below to check out these high-potential cryptos.
FAQs
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References
- The market has shown optimism for meme tokens (Forbes)
- The overall investor sentiment toward Bitcoin turned favorable (Crypto Fear and Greed Index)
- The release of Degen Chain has so far attracted 132,000 addresses, seeing a total of 4.15 million completed transactions (X)
- Bitcoin could reach $200,000 in 2025 (Yahoo Finance)
- The global blockchain space can surge to over $469 billion by 2030, with a CAGR of nearly 60% (Fortune Business Insights)
- Vitalik Buterin recently expressed skepticism about Layer 3’s ability to improve Ethereum’s network throughput significantly (X)
