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Tribe price prediction: Are its days numbered?

By Raphael Sanis


Updated

Coins going into a black box labelled DAO
Tribe is the decentralised autonomous organisation that manages the FEI, Rari Capital and Turbo protocols – Photo: JLStock/Shutterstock

Tribe (TRIBE) emerged in 2021 when the Fei protocol acquired the lending platform Rari Capital.

Despite being a relatively new addition to the market, the organisation has already faced a major crisis

Tribe merged its decentralised autonomous organisation (DAO) with Rari Capital. However, Rari was hacked in April, with funds worth $80m stolen in the attack. While Tribe’s community has voted to reimburse all those affected, its DAO system is coming to an end

Forecasters such as TechNewsLeader and WalletInvestor are conflicted over the token’s future.

What is Tribe?

Tribe is a DAO that manages three different projects and controls the future of their respective ecosystems. The organisation launched last year, at the same time that the Fei protocol merged with Rari Capital.

Fei is an algorithmic stablecoin ecosystem that is attempting to escape the lack of liquidity associated with the industry. It uses the price of Ether (ETH) to motivate users to buy or sell FEI when it escapes its $1 price target.

Meanwhile, Rari Capital is bringing a permissionless financial infrastructure to the crypto industry with its borrowing and lending protocol. By lending crypto assets to borrowers, investors are rewarded with yield.

The organisation’s website said:

“Rari Capital empowers individuals to break free by creating new opportunities, communities and financial products.”

The final protocol involved in the Tribe ecosystem is the Turbo liquidity accelerator. A Fei blog post explained: “Tribe Turbo enables DAOs (and degens) to issue FEI, at no cost, into a Fuse pool(s) of their choice, while benefiting from a revenue split with the Tribe DAO.”

The governance token 

TRIBE is the governance token that controls this DAO. Holders of the cryptocurrency can have influence over its protocols. 

For example, as the Fei whitepaper revealed, the organisation can adjust allocations of FEI bonding curves and the incentivisation rate. 

TRIBE has also become tied to the FEI cryptocurrency. FEI holders are able to stake the stablecoin in the Uniswap (UNI) pool and earn a percentage of the TRIBE distribution. However, this process will scale back over the next two years and eventually be closed down.

TRIBE’s past performance

TRIBE price chart

Source: CoinMarketCap


TRIBE launched on 3 April 2021 and surged to its all-time high of $2.49 the following day. However, it plunged afterwards and has not come close to this price since. 

It did see a slight peak in May as it doubled the TRIBE rewards available in the FEI Uniswap pool. Investors who managed to get in early and trade between 3 May and 24 May 2021 were eligible for more than three times the reward rate.

After peaking at $1.80 on 5 May 2021, the token continued on the downward trajectory that characterised TRIBE for most of the year. 

BTC/USD

67,438.20 Price
+0.670% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

SOL/USD

175.29 Price
+3.040% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.2652

XRP/USD

0.60 Price
+3.770% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

DOGE/USD

0.14 Price
+7.960% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872

The token started rallying again in November as holders took part in a vote for the Fei protocol to partner with Tokemak. This would see ETH and TRIBE funds worth $50m used to kickstart its liquidity as a reactor on Tokemak.

The proposal passed and the token peaked at $1.35 on 11 November 2021.

The token saw a similar rally on 13 January 2022, when it made a major announcement that all TRIBE liquidity would be moved to Fuse, a product from Rari Capital.

The Fuse product, however, proved to be the downfall of Tribe and Fei. A hack in April resulted in funds worth more than $80m being stolen across multiple pools.

Even more controversy surrounds the Tribe project as, on 19 August 2022, a vote was put to its community to dissolve the DAO. This proposal passed and will see Tribe’s DAO system dissolved. FEI holders are able to switch their funds to DAI, a different stablecoin, on a 1:1 ratio.

Meanwhile, the proposal said: “TRIBE becomes redeemable for a pro-rata claim on each remaining asset after setting aside DAI backing for FEI.”

The organisation also voted to fully emburse all victims of the hack in September. These payments were made within 24 hours of the vote passing, according to founder Joey Santoro,

As of 18 October 2022, TRIBE was trading at $0.21, and was up 3% on the past week.

Tribe price prediction

At the time of writing, some TRIBE price predictions expected the coin to maintain its recent rally throughout the coming years, while others were much more pessimistic.

WalletInvestor gave a bearish Tribe price prediction for 2022, suggesting it could have fallen to $0.04 in a year’s time. The forecaster did not expect TRIBE to recover and suggested it could fall as low as $0.001 by October 2027.

TechNewsLeader suggested the coin could reach a high of $0.35 in a year and $1.11 in five years’ time. Its Tribe price prediction for 2030 at the time of writing gave a maximum price of $4.61.

Meanwhile, PricePrediction said TRIBE could average $0.24 in 2022, yet its long-term forecast was more bullish. Its Tribe price prediction for 2025 said the coin could have achieved $0.72. By the beginning of the next decade, the Tribe coin price prediction estimated a maximum price of $4.84. 

The Tribe crypto price prediction from AMB Crypto projected the cryptocurrency to pass $1 in 2025. The site suggested the coin may achieve $4.38 in 2030 and $9.18 in 2033.

When considering a TRIBE token price prediction, it is important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.

If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any trading decision. Keep in mind that past performance is no guarantee of future returns. Never trade with money that you cannot afford to lose.​​

FAQs

Is Tribe a good investment?

Tribe is a decentralised autonomous organisation that manages the FEI, Rari Capital and Turbo protocols. However, it is important to note that the community has voted to dissolve this DAO.

In volatile cryptocurrency markets, it is vital to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether the TRIBE token is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors.

Keep in mind that past performance is no guarantee of future returns, and never invest money that you cannot afford to lose.

Will Tribe go up or down?

As of 18 October 2022, some forecasters, such as TechNewsLeader, were suggesting that TRIBE could continue its current rally. But WalletInvestor was more bearish over the token’s future.

In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether tribe is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors.

Keep in mind that past performance is no guarantee of future returns, and never invest money that you cannot afford to lose.

Should I invest in Tribe?

Tribe has seen its value plummet throughout 2022, in line with the wider bear market, though it has recently rallied slightly.

Whether you should invest in TRIBE is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research. Never invest more money than you can afford to lose, because prices can go down as well as up.

 

Markets in this article

ETH/USD
Ethereum / USD
3532.03 USD
27.69 +0.790%
UNI/USD
Uniswap / USD
8.06120 USD
0.05968 +0.750%

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