Today, crypto enthusiasts are taking note of a regime change. Dogecoin (CCC:DOGE-USD) fell off the list of top 10 cryptos based on market capitalization (cap), with Terra (CCC:LUNA-USD) taking its place. Now, the market cap of Terra is currently $2.8 billion greater than Dogecoin. As a result, price predictions for Terra are surging higher as crypto analysts digest what this could mean for Terra moving forward.
According to the official website, Terra is “a public blockchain protocol deploying a suite of algorithmic decentralized stablecoins which underpin a thriving ecosystem that brings DeFi to the masses.” LUNA is the native token of Terra and is used to stabilize the price of the protocol’s stable coins.
In recent Terra news, Hong Kong venture capitalist firm Chiron Partners announced that it had raised $50 million for the Chiron Terra Fund I. The fund will aim to create decentralized finance (DeFi) and metaverse non-fungible token (NFT) projects on the Terra blockchain.
While the majority of cryptocurrencies have sold off the past seven days, Terra has actually risen. In fact, the LUNA token is up 5% the past week compared to Bitcoin’s (CCC:BTC-USD) 16% decline in the same period. Additionally, Dogecoin has declined by 17% the past week, allowing Terra to overtake it.
Expectations for Terra’s price are soaring higher as analysts expect the recent momentum to continue. Here’s what crypto analysts think about Terra price predictions.
Terra Price Predictions: Will the Momentum Continue for LUNA?
- CoinTelegraph has a near-term price prediction of $100. This represents an upside of 49% from current prices. Analyst Yashu Gola believes Terra is currently trading in a bull pennant, which is usually a sign of bullish continuation. Gola reasons that once Terra breaks out from the pennant, it will quickly move to $100.
- Wallet Investor has a 2026 price prediction of $442.80. Impressively, this price prediction represents an upside of 563%. The price prediction is based on technical analysis indicators and trend lines.
- Digitalcoin has a 2026 price prediction of $237.79. This prediction represents an upside of 255%. Digitalcoin developed its price prediction based on historical data and its own proprietary algorithm.
- CoinsKid has a 2025 price prediction of $289.34. Therefore, this prediction implies an upside of 333%. The prediction is based on CoinKid’s proprietary “Forecast System.”
- Trading Beasts has a 2024 price prediction of $98.91. This represents an upside of 48.2%. Trading Beasts developed this price prediction based on “historical data and using a combination of linear and polynomial regressions.” However, Trading Beasts has a 2021 year-end price target of $60.34, which would represent a downside of 9%.
On the date of publication, Eddie Pan did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
