One of the digital currencies created like dogecoin for no particular reason or purpose was the Elongate. This cryptocurrency has now become one of the largest sources of funding for charitable associations. But in this article, we will thoroughly examine what Elongate is worth or our price forecast for this cryptocurrency in the next ten years.
Elongate Price Prediction 2021 to 2022
According to predictions made on Elongate, various factors will affect the price of this currency. In 2021, many cryptocurrencies, including bitcoin, experienced a very sharp price increase. But can Elongate be expected to continue to do so by the end of 2021? In general, we should consider the following.
In the next month, we will probably not see any significant change in the price of Elongate. However, a slight price increase may cause the cryptocurrency to fluctuate close to $ 0.0000003 in the next month.
Elongate needs certain factors to be able to reach higher price levels. If the token is taken into account, the price can be expected to reach $ 0.0000002.
With the start of 2022 and the positive of the cryptocurrency market, and the implementation of the plans of the development group Elongate, the price will be around 0.0000003 $
Elongate Price History
Most people buy cryptocurrencies in the hope of making a significant profit. Investing in Elongate is almost like that. Due to its low price and the possibility of several thousand times growths, it can give huge profits to its investors if it meets certain conditions. But for further investigation, it is better to first see what price trend this digital currency has gone through so far.
Elongate releases in April 2021 and is based on an Elon Musk tweet. At that time, Musk tweeted: If there’s ever a scandal about me, * please * call it Elongate. After that, the developers planned and built the Elongate token.
Elongate is one of the anti-inflation tokens that work on the Binance Smart chain. Anti-inflation tokens are cryptocurrencies with a limited amount of extractable tokens, and after reaching the extraction limit, no new coins are produced. Theoretically, this option gives the token a kind of scarcity, which means that if Elongate one day becomes very popular, more pressure and demand for it will increase its price.
According to Safemoon and Bonfire routines, ten users have to pay 10% of the transaction fee to sell Elongate. However, the difference in the number of transaction fees received on Elongate is that part of these costs are spent on charity. According to the Elongate website, the developers have so far donated about $ 3.49 million to charity.
A closer look at the Elongate website reveals that the developers are paying for charity every month. One of their last donations to the charity was a $ 240,000 donation to Youth Hospital in August 2021. In addition to charities, Elongate shareholders can use their tokens to use in voting systems. Shareholders can now comment on the auto-burn issue, the approval of which could reduce the supply of coins in the future.
Elongate prices are meager, and there is little hope of a sharp increase in the next few months. The coin entered the market in April 2021, and its maximum price was $ 0.00000109. This amount was formed only in a brief period. According to the Elongate price chart, the value of this token has been declining since its release.
Price, specifications, and features of Elongate
Regardless of the type of long-term or short-term investment, you need to plan for different price goals. This is one of the essential points in Elongate price forecasting because it shows logical approaches for investors. However, based on technical and fundamental analysis, you can start targeting prices.
Technical Analysis
As seen in the Elongate price chart, it experienced a sharp price increase after the release of this token, but it is continuing to fall in price. Most markets have analyzed that Elongate developers first raised the currency’s worth with a lot of advertising and sold their tokens, then made huge profits by lowering the price and other investors faced some kind of capital loss.
Due to the strong support for Elongate, the things mentioned on its website and its strong association structure do not seem to have happened. However, the currency price is not growing at the moment and seems to have bottomed out in Elongate. If this token is met with positive changes from developers, the price will also proliferate.
Fundamental Analysis
According to coinMarketCap, the Elongate market cap is just over $ 51 million. This amount does not even place the token among the world’s top 2,000 digital currencies. So it can be concluded that Elongate is still a tiny token among other cryptocurrencies. The 24-hour trading volume of this currency is about 800 thousand dollars. However, the price of this token has tripled since October 28, 2021, and is still in a positive trend.
Elongate could be traded on NFT shortly. Its developers have also stated that this digital currency could soon be used in daily payments and different payment methods. There is still a long way to go to see such an increase in the development of this digital currency.
Elongate Price Prediction
It is better to have a long-term forecast for Elongate first. The token still has a very tortuous path ahead, but as we said, with the opening of payment methods and placement in NFTs, we can expect the price of this digital currency to reach more than $ 0.00005 by 2025. This means more than 200 times growth.
In addition, no official online exchange has yet accepted Elongate sales, and users are forced to choose unique methods to buy and sell it. If Elongate wants to go further, it must obtain entry into digital exchanges such as Binance or Coinbase.
It is still difficult to say whether Elongate can reach prices close to one dollar or not, but due to the wide range of applications and targets set for this token, it can be expected to grow by 200 to 250 times in the coming years. Few still prefer to buy small tokens such as Elongate, Cardano coins, or other currencies instead of small ones.
By all accounts, the price of Elongate could grow 200 to 250 times over the next five years. It is one of the best digital currencies in transaction speed and participation in charity work and will soon be accepted in online exchanges. So by 2025, its price will be something around 0.00005.
With such assumptions, by 2030, the price of Elongate will reach close to 0.0005, which is far from today’s price. Although Elongate does not look like it will grow to nearly a dollar in the next ten years, it is expected to experience a significant price increase as it grows in popularity due to mining restrictions.
Elongate Price
One of the most critical factors in starting to invest in financial markets is the asset price chart. According to the six-month chart you see above, the price of this digital currency experienced two sharp increases in the first months of supply and then returned to an uptrend again in late October 2021 with a six-month downtrend. Although the current prices have not yet reached one-tenth of the price in April, there is hope to increase the daily trading volume.
Due to the low price of Elongate, any small change can significantly increase the assets of investors. If the current price reaches 0.0000003, we will see a threefold price increase, which is a significant increase for large capital.
Elongate investment methods
You can not do this through online exchanges to be able to buy and sell Elongate. That’s why you have to use platforms like PancakeSwap that convert BNB or USDT to Elongate or vice versa. However, this conversion also includes a fee.
If you want to invest in Elongate in the long run, you can also use eToro. This platform is one of the best digital currency trading centers with more than 20 million active users. This collection operates under the permanent rules of FCA, ASIC, and SySEC.
Due to its attractive structure, it is recommended that you use eToro to invest in Elongate. Users can trade without paying an extra commission. Plus, you can start investing for just $ 50, so eToro would be a great option.
The eToro platform also accepts credit or debit card payments, bank payments, and e-wallets such as PayPal for funding purposes. The minimum deposit must be $ 50. You can create a demo account on eToro and do your trading in a simulated way to get acquainted with the market workflow.
There are so many digital currencies to trade in eToro. This platform is also one of the best options for buying and selling bitcoins. Therefore, its use is recommended.
Conclusion
As mentioned, Elongate is one of the meme coins in 2021 developed. The digital currency initially experienced excellent price growth but took a negative trend over six months. It has started growing again since late October 2021, so it can be a good option for long-term and short-term investments.
We suggest you start with a kind of long-term investment and wait until 2022 for the dramatic growth of this digital currency. However, due to the lack of support for many online exchanges from Elongate, you can use eToro to make transactions.
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