Investing

Elon Musk Cryptocurrency Forecasts for 2022

4 Mins read
  • Which coins are endorsed by Elon Musk?
  • What are the forecasts for those coins?
  • Why do they have the potential to grow?

As a network-regulated currency, Elon Musk argues, cryptocurrencies will gain widespread acceptance because of their more significant trustworthiness than current fiat currencies. A few oligarchs now control the foundations of money, he said.

When it comes to investing in 2022, would people look for buzz and celebrity endorsements, or will they prioritize the value and usability? Is 2022 going to be the year of meme coins, or will it be a year of value and utility? We will look at a few of the top cryptocurrencies Elon endorsed and have an excellent forecast for 2022. 

How much would you earn if you invested in such projects 1 year ago?

Despite a few falls, the projects’ pricing listed below has remained stable. As a result, your investment would have doubled if you had put money into these ventures a year ago.

Best Elon Musk crypto projects to watch right now

Following are some of the coins that Elon Musk endorsed.

Shiba Inu (SHIB)

SHIB 1-year price chart
SHIB 1-year price chart

When Shiba Inu was first valued at $19 billion in early 2021, those who invested were probably splurging on Caribbean cruises for Christmas with their money from Shiba Inu. But, for people who missed out on making $50 million from Shiba in the last 12 months, is there still a possibility in 2022?

According to some experts, Shiba is anticipated to reach $0.000084 in Q1 2022, $0.000088 in Q3, and $0.0001 by the end of the year. Shiba Inu investors might see a return of 300% in the following year, which isn’t enough to convert another 1000 Shibas into millionaires or turn your Camry into a Superyacht, but it’s a respectable return nevertheless.

Why does it have the potential to grow?

Robinhood Markets and other prominent trading platforms might help popularize Shiba Inu if they allow it to be purchased and traded. Additionally, it’s becoming popular as virtual-world money that can be used to buy and sell metaverse virtual goods. Achieving the $1 level for Shiba Inu may be impossible, but forecasting the direction of the crypto market in the next three months is equally tricky.

Dogecoin (DOGE)

DOGE 1-year price chart
DOGE 1-year price chart

Dogecoin, a meme coin based on the image of a dog, is a favorite topic for Elon Musk when he isn’t building spaceships to Mars. On his blog, Elon describes how he became engaged with Doge after hearing in 2013 about the ‘meme currency’ created at one of his facilities by software programmers Billy Markus and Jackson Palmer.

By the end of 2021, a $1,000 investment in Doge would have grown to a whopping $32,000. However, according to www.walletinvestor.com, the price of Dogecoin is expected to grow to $0.4 by the end of 2022. This would yield investors an extra 135 percent return over 12 months.

Why does it have the potential to grow?

Dogecoin’s value might soar above $100 if it keeps growing at its current rate. However, Dogecoin’s network still struggles to keep up with increasing transaction volumes. Using Doge as a price-stable cryptocurrency for microtransactions is also possible. Because the currency has lightning-fast confirmation rates and low costs.

Dogelon Mars (ELON)

ELON 1-year price chart
ELON 1-year price chart

At the beginning of the year, the price of Dogelon Mars (ELON) was $0.0000000037, and it has since risen to $0.00000125. A 33,683% gain in nine months.

The price of a meme coin is notoriously difficult to predict. Dogelon Mars could be the ultimate meme coin, with its creators not shying away from any conceivable Elon Musk link. It’s the most blatant attempt by any company to profit on the Elon link with a name of three parts: Doge, Elon’s favorite crypto, and Mars, Elon Musk’s future home. Is it a success, on the other hand? It’s impossible to argue that the ruse didn’t work with a market value of $850 million.

It remains to be seen whether or if Dogelon Mars will be able to build on their spectacular 2021 results. Dogelon Mars is expected to be valued at $0.000004 by 2022.

Why does it have the potential to grow?

There are no complicated use cases for Dogelon Mars. Like previous meme currencies, the growth of this one is heavily reliant on the enthusiasm of dog lovers. The tweets from Elon Musk that encouraged or included SHIB and DOGE into Tesla’s payment systems had a significant influence on their growth. ELON might become the next considerable meme currency if the trend continues.

Bitcoin (BTC)

BTC 1-year price chart
BTC 1-year price chart

If you’ve never heard of Bitcoin, you may have spent the last decade on Mars before Elon did. As the first and most prominent cryptocurrency, Bitcoin is known as the “Grandfather.” After years of investing in superyachts, early investors may be looking to buy a tiny country. But, given its current price of $48,000 per coin, is there any benefit in having the world’s most expensive cryptocurrency in your portfolio for 2022?

Yes, according to the vast majority of specialists. Most crypto investors insist on maintaining a portion of their capital in Bitcoin in their wallets. In addition, Bitcoin is now commonly utilized in the real world since it is cheap to acquire and trade, and it is generally recognized.

As predicted, Bitcoin will rise beyond $100,000 per coin in 2022. The resulting profit will be 100% or more for those who hold on to their initial Bitcoin.

Why does it have the potential to grow?

Bitcoin’s predicted value and expected growth might be tremendous since it is so strong and has so much potential. Analysts and industry professionals believe that Bitcoin’s long-term value might rise over $100,000 per BTC to one million dollars per BTC due to its limited supply and growing demand.

Ethereum (ETH)

ETH 1-year price chart
ETH 1-year price chart

Ethereum is the second-largest cryptocurrency in the world, behind Bitcoin, with a market value of $450 billion. Investors in Ethereum in 2021 would have made a 450% profit despite a turbulent year.

Ethereum was forced to split into two chains in August when a bug made the network vulnerable to attacks. Then, adding insult to injury, several well-known investors pulled their money out of Ethereum after its rivals revealed it as “slow and pricey.”

Despite recent setbacks, the Ethereum 2.0 upgrade scheduled for 2022 and support from billionaire Mark Cuban may still help Ethereum have a remarkable year. Over the year, Ethereum’s value is expected to more than double to $10,000.

Why does it have the potential to grow?

Ethereum As seen by the exponential surge in popularity of NFTs this spring, the cryptocurrency Ether (ETH) is often utilized to settle such transactions. New applications may be created on Ethereum’s foundation, making Ethereum a more valuable resource in the long term. For these and other reasons, Ethereum is seen as having great potential.

Final thoughts

These were some of the top cryptocurrencies that Elon Musk endorsed, and they gained pretty much popularity, and their prices rose. This article concludes all those cryptocurrencies that Elon endorsed and has a great future in 2022.

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