HOGE coin price prediction: should you buy into the meme?
Meme coin HOGE, the cryptocurrency of Hoge Finance, had a stunning wax in October but has been on an agonising wane ever since.
On 28 October it hit a high of $0.0007. Today (11 January) it has lost another 15% and is at at $0.0001213 - that's 85% off its October peak.
HOGE is the latest cryptocurrency to play on the popular Dogecoin meme. It is now sixth with a market capitalisation of around $48m in the league table of meme coins behind the likes of Shiba Inu and Dogecoin. Meme coins tend to driven by cultural issues or trends rather technical cases which can make forecasting even more challenging.
The community-driven crypto is a deflationary decentralised finance (DeFi) token that aims to push the price higher over time to reward holders.
What is Hoge Finance and what's been driving the token's price? In this article, we look at the project’s latest developments and the volatile Hoge Finance (HOGE/USD) forecast for the years ahead.
What is Hoge Finance?
Hoge Finance was launched on 7 February 2021 as a deflationary “Doge but DeFi” – or, “Doge but without the problems” – cryptocurrency token. It is billed as “a new DeFi crypto that focuses on memes, puppies & charity.” HOGE is an ERC-20 coin (a token regarded as the technical standard for all smart contracts built on the Ethereum blockchain and used for token implementation) and bridged to the Binance Smart Chain (BSC).
✨ $HOGE coin is a new DeFi crypto that focuses on memes, puppies & charity✨
-39k+ supporters
Since then, the founders have steered the project towards charitable efforts, developing relationships with non-profits and animal charities, according to the Hoge white paper. In May, a non-profit DAO was formed in Switzerland to implement community-approved actions for the coin and sign agreements with centralised exchanges.
In case you missed it, Hoge officially registered as HOGE Association in Switzerland, making it a flexible non-profit legal entity recognized in jurisdictions worldwide.
This is the first step towards the HOGE DAO.
Huge accomplishment
HOGE token the first DeFi meme coins to complete a CertiK audit. Hoge Finance does not have a developer wallet built into the coin, nor does it have a revenue structure. There are an estimated 80–110 developers and contributors working on the project for free. Without a developer wallet, the community receives incentives to work together to meet its goals.
HOGE is a deflationary auto-staking token with a supply cap. The initial supply was set at one trillion tokens, with half burned permanently at launch. The burn was designed to balance the transactions at the start to redistribute 1% weighted to each wallet proportionally, and burn 1% of each transaction amount. Each time a HOGE transaction takes place, 2% is distributed and removed from the total supply.
The burn rate increases gradually as more tokens are burned, increasing the scarcity of the tokens circulating while distributing HOGE to users. As the number of transactions increases, the HOGE coin value in each user’s holdings grows.
HOGE is listed on several exchanges, including Gate.io and WhiteBit. It can also be swapped on platforms like Guardarian and ChangeNow.io. It was listed on the BigONE Exchange on 16 April and, in the latest HOGE coin news on 14 August, said it will be listing on a top-five exchange, either Binance, Coinbase, Huobi Global, Kraken or Kucoin. The project has organised a fundraiser to help raise money for the listings.
HOGE has started minting non-fungible tokens (NFTs), having held two events to reward holders. The developers are working on a 100% HOGE-owned and operated NFT marketplace, with a focus on sports. Hoge is targeting gaming and electronic sports (esports) enthusiasts by releasing community-built online games that have playable demos.
According to a recent statement: “The NFT marketplace is expected to be a large revenue source for HOGE Finance when integrated with the existing e-commerce and merchandise platform already available on HOGE's website.”
The developers are also building a “Hoge University”, which is an online platform that will help users to search for articles and educational courses on trending industries like cryptocurrencies and content creation to train the community, the statement said.
HOGE rallies as crypto markets bottom
The HOGE crypto price reached an all-time high of $0.0009634 on 15 March, but had retreated to $0.0001146 by 29 March. It then climbed back to $0.0008081 on 15 May, as the cryptocurrency markets rallied across the board.
With the collapse in crypto prices, HOGE dropped back to $0.0000717 as the markets bottomed out on 20 July.
The HOGE price moved up to $0.0001179 on 1 August but dipped to a low of $0.0000728 on 13 August ahead of its recent rally to $0.0001279 on 22 August – a gain of 75.7%. The price then went into slow but determined decline for the next couple of months until October when some small gains hinted at the strong 350% gains at the end of the month. At the time of writing the price is $0.0001757.
So, what is the outlook for the price – will the HOGE coin price recover high ground?
HOGE coin price prediction: can it sustain the recent rally?
As of 11 January the Hoge Finance price prediction from algorithm-based forecasting site WalletInvestor forecasts a rise to $0.00018 at the start of 2023 rising further to $0.000377 in five years' time.
The HOGE forecast from Gov Capital is slightly less bullish predicting the HOGE will reach $0.00032 target price in January 2023 and rise to $0.585 in four more years.
However, the HOGE crypto price prediction from DigitalCoin is slightly more bullish, forecasting that the price will average $0.00016 in 2022 and $0.000265 in 2025.
Although long-term HOGE price predictions for 2030 were yet available, DigitalCoinPrice expecs predicted the HOGE price to average at $0.00052 in 2029.
It is important to keep in mind that cryptocurrency markets are volatile, making it hard to predict what the price of the coin will be in a few hours – and even harder to give longer-term estimates. Therefore Hoge Finance predictions shouldn't be used as a substitute to your own research. Always conduct due dilligence and evaluate the latest market trends and news, technical and fundamental analysis, and expert opinion before making any trading decisions.
FAQs
What is the future of the HOGE coin?
As one of the smaller meme coins, HOGE faces an uncertain future. Its adoption will depend on whether it is able to differentiate itself from the thousands of other cryptocurrencies on the market to sustain its use. Forecasts from DigitalCoin and WalletInvestor raise questions about its long-term viability.
Keep in mind that HOGE predictions can be wrong. You should always conduct your own research before making any investment or trading decision.
Is HOGE a good investment?
Whether HOGE is a good investment for you depends on your personal circumstances and risk appetite. Cryptocurrencies are high-risk, highly volatile assets and Hoge Finance crypto predictions shouldn't be used as a substitue for your own research. Evaluate the level of risk you are prepared to accept before investing, and never invest money you cannot afford to lose.
Is Hoge Finance safe?
On 11 January, Cointobuy was giving HOGE a 3.8 out of 10 safety rating. That ranks it 426th out of 4,138 assets based on safety.
As one of the new meme coins in the cryptocurrency ecosystem, HOGE is a higher risk investment than some of the larger coins. Its future depends on its adoption by the crypto community and the success of its projects.
Can Hoge Finance reach $0.01?
Based on the Hoge Finance coin price predictions from algorithm-based forecasting sites, the token is unlikely to reach $0.01 within the decade. DigitalCoin predicted the maximum price of $0.000748 by 2028.
Keep in mind that HOGE coin predictions can be wrong. You should always conduct your own research before making any investment or trading decision.
Read more: Dogecoin price prediction: is it set for a new rally?
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