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After a brutal start of the year for crypto, FEG coin price prediction is not looking quite bullish. The upcoming rate hikes and the ongoing tensions in Eastern Europe have sent tremors across the crypto markets. The recent bloodbath has also affected FEG token price very badly, and it is currently 92% down from its ATH. Nevertheless, despite the negative price action, the team seems to be active in development. This must give FEG crypto holders some relief.
FEG launched in January 2021 as a fork of Reflect Finance. It was launched with the aim of combining the features of Reflect Finance and Shiba Inu. FEG has a built-in feature that charges a 2% fee in FEG tokens for every transaction. As a result, 1% of these tokens go to the FEG holders, and the other 1% is burnt.
This in-built feature generates passive income for holders and affects the price positively via token burn. The total supply of FEG is 100 Quadrillion, while the current supply is 41 Quadrillion. This means that almost 59% of FEG coins are already burnt. Such a massive circulating supply makes it impossible for FEG to reach $1. Before moving on to our FEG coin price prediction, let’s learn how the project started.
Very little information is available on the founders of FEG. The team seems anonymous, and someone with a Twitter handle, @lifeisdefi, seems to be the lead developer. FEG stands for ‘Feed Every Gorilla, ’ which appears to be an attempt to relate the project to animal welfare. This and its launch in the memecoin season sent FEG coin price to the stratosphere within no time. FEG touched its all-time high of 0.0000000441 on 13th May and is currently trading 92% below that figure.
Most investors initially bought FEG due to its infinitesimally small price and memes, but the team continued its development. According to the latest FEG coin news, the platform has a functioning DEX called FEGEX that allows swapping between different assets. FEGEX also lets the FEG users earn passive income in the form of several other top assets. FEG coin price is currently trading at $0.0000000035.
FEG team has also built a Smart DeFi token template that lets anyone generate a token with DeFi features. This lets people without any programming background launch their tokens with in-built DeFi features. Other products include an investment tracking app called FEG Tracker and FEG Radio.
At the time of writing, the FEG coin price is trading at $0.0000000035 and sitting at a market cap of $147 million. This puts it at the spot of 310th biggest cryptocurrency by market cap. The market cap went to as high as $1 billion in May 2021. During this time, FEG token price touched its all-time high of $0.000000044. However, the euphoria was short-lived, and the price has been in a significant downtrend since then.
Technical analysis of the FEG coin price chart shows that the price is trading inside a symmetrical wedge. There seems to be strong support at the $0.0000000015 level as the price has bounced off this level multiple times. If price holds this support, then bulls might target higher price levels this year. The price must break out of the downtrend to validate the current bounce, making higher highs. Any reclaim of $0.0000000080 level could send the price into a significant uptrend. This would make $0.0000000200 a valid FEG coin price prediction 2022.
This level is in alignment with the 0.38 Fib retracement level from the May 2021 highs to the recent lows. It is also important to note that any breach of $0.0000000015 level could send the price to the $0.0000000005 level.
Cryptocurrencies are globally considered one of the riskiest assets in the world. Even in cryptocurrencies, certain coins are riskier than others. FEG falls in the category of such risky crypto assets whose value is mainly driven by the hype. Some might also term FEG as a memecoin due to its name. Nevertheless, the team has shown some good progress in the development. However, the platform is yet to receive mass adoption as the competition is fierce in the DeFi industry.
Many skeptics still consider FEG a meme token. However, if FEG coin could survive a long bear market then we can also calculate long-term bullish targets. Safemoon is another such project which started as just a memecoin but then the team started to develop more products. At the peak of the bull run, Safemoon price reached a market cap of $6 billion. If we imagine the FEG price in 2025 at a similar market cap then we get FEG coin price prediction 2025 of $0.0000001470.
This would be 40x from its current levels. However, a coin like FEG for the long-term is no different than playing with fire. If someone telling you that FEG is going to $1 then please cut your ties with them. $1 FEG would mean a market cap of 41 Quadrillion which is more than the total value of all the assets in the world.
If you’re still asking yourself, ‘Is FEG coin a good investment?’, you must consider all the possibilities. First, you must know that micro-capped coins like FEG are highly volatile. While hype could drive their prices to insane levels in the short term, any hack or DeFi exploit could also send them to zero. Therefore, one must only invest disposable money into such assets and avoid putting all eggs into one basket.
The price of FEG has been on a downward trajectory for months. Any trader could tell that it’s only a matter of time till the price reverses and make at least a lower high. Even such a lower high could still give 200-300% returns from current levels. Therefore, buying FEG coin for a quick gain could be a good investment from a short-term perspective. However, it’s better to wait until the project gains some traction for any long-term investment in the ‘Feed Every Gorilla’ token. In such a way, the risk of failure would be much lower than just buying and holding from current price levels.
This post was last modified on Aug 23, 2023, 08:40 BST 08:40