Pundi X price prediction: Can PUNDIX go up?
Pundi X wants to enable crypto payments for offline retail, but what is the PUNDIX price prediction?
- From the Pundi X whitepaper
- Pundi X price history: How it started
- Pundi X price history: How it’s going
- Pundi X price predictions
- Whatever happened to NPXS?
Pundi X (PUNDIX) is a cryptocurrency that is attempting to power a world of offline crypto transactions. Its price performance has been mediocre since launch, however. So what will happen to its price in the future?
While past performance is no indicator of future results, it is still worth looking at how the coin has behaved previously, in order to get some context regarding its current position.
From the Pundi X whitepaper
The Pundi X whitepaper presents it as: “A platform for consumerising cryptocurrencies by enabling their use in retail point-of-sale (POS) through a mobile app and contactless payment card.”
The document goes on to say: “Following in the footsteps of Bitcoin, Pundi X has the same properties of real implementation, open governance and incentivisation that allows for the rapid global expansion of the solution.”
Read on for our analysis of how the coin has fared to date, and for a round-up of the latest Pundi X price predictions.
Pundi X price history: How it started
Pundi X (PUNDIX) came into being as a replacement for the old Pundi X (NPXS) cryptocurrency. NPXS was designed with real-world use in mind, but it was worth such a small amount that everyday items cost thousands of NPXS to buy, like hyper-inflationary Germany in the 1920s.
The chart for the original token’s price history shows that it only traded above one cent a few times, and those were not long after its launch in early 2018. The team behind Pundi X believed that having to pay thousands of NPXS for low-cost purchases would be off-putting to its ideal customer base of everyday people, and so decided to create a replacement for NPXS that was worth more.
The name of that replacement was PUNDIX, with each PUNDIX worth 1,000 NPXS. NPXS holders voted through the proposal at the start of 2021, and PUNDIX opened for trading on 4 April 2021 at $5.75.
The token soon moved up the price charts, closing the day at $6.56, a rise of 14% across just 24 hours of trading. On 9 April 2021, the new crypto broke through the $7 barrier. The coin had experienced some troughs, but it seemed like anyone who had made an optimistic initial PUNDIX price prediction would be proved right.
Unfortunately, that was as good as it got, and the 9 April 2021 intraday high of $7.14 still serves as the all-time record for the crypto.
The rest of the month saw PUNDIX fall back, not only from its record high but below its opening position on launch day. It fell below $4 briefly on 11 April and, despite a small recovery, remained below $5. It then dropped below $4 again on 17 April, and worse was to follow, with the coin sinking to an intraday low of $1.89 on 23 April 2021.
Despite recovering quickly, its monthly closing price of $3.37 represented a 41% decrease from where it stood at the start of 4 April, and a 52% drop from its monthly high. This settling from what appears to have been an overvalued early price meant that more than one Pundi X price prediction was revised downwards in early spring.
May 2021 proved a disappointing time, and the best the coin could manage was $3.58 on 3 May. After that, it spiralled down to an intraday high of $2.24 on 19 May. Then came the great crypto day crash, and the coin ended up losing more than half its value, dropping to an intraday low of $1.10 before rising to close 19 May 2021 at $1.42.
Initially it seemed as though PUNDIX might recover, but the month’s closing price of $1.72 represented a monthly drop of nearly 50%.
Things got worse. Between 20 and 29 June 2021, the coin began trading below $1, with the worst moment being an all-time low of $0.5814 on 22 June. PUNDIX breached the dollar mark again, but the 30 June closing price of $1.16 was still down by almost a third from the end of May.
July 2021 saw the coin drop back below $1 at times, but as the cryptocurrency market started to recover, so did the PUNDIX price. The coin’s closing price for the month was up 28% to $1.49.
August was another time of cautious optimism for the coin and those making PUNDIX price predictions. Pundi X broke through $2 several times, the most notable achievement being a monthly high of $2.06 on 24 August 2021. At the end of the month, the coin was worth $1.76, up 18% month-on-month.
September 2021 started positively, with the coin hitting a monthly high of $2.23 on 5 September, but then it fell into the doldrums and closed the month at $1.24, a fall of nearly 30% across September.
Pundi X price history: How it’s going
October 2021 was a bit better, with a high of $1.91 on 9 October and a closing price for the month of $1.57, up more than 25% on September’s close. November’s performance was relatively poor. The monthly high came on the first day at $1.88, but it finished down by more than 11% on 30 November 2021 when it closed at $1.39.
December was similarly disappointing, with PUNDIX dropping below $1 again briefly on 4 December. On 6 December 2021, the coin was worth around $1.10, down more than 20% in less than a week.
The coin opened on 1 January 2022 at $1.02 and has seen very little recovery as we move further into 2022. The coin hit a low of $0.66 on 24 January before recovering slightly, but a month later the coin fell back to $0.64. By the middle of March, things started looking up for the coin and it started on a general uptrend.
On 6 April 2022, the coin saw trading highs of $1.09, as the broader crypto market showed fleeting signs of recovery. However, the Q2 bull runs were short-lived, and by mid-June, multiple marketwide crashes saw PUNDIX reach an all-time low of under $0.31.
At the time of writing on 17 August 2022, PUNDIX was trading at $0.59. It has a current $151m market cap and is the 164th-largest crypto by that metric.
So, what are the analyst sites saying in their Pundi X price predictions for 2022 and beyond?
Pundi X price predictions
WalletInvestor’s Pundi X coin price prediction for 2022 says the coin should be trading at around the $0.71 mark towards the end of this year. The site also suggests the coin should be worth $0.89 in a year’s time, with the coin forecast to reach $2.85 in five years.
PricePrediction is also optimistic, saying the coin could hit a maximum price of $0.97 this year. The site forecasts the coin could be worth an average of $1.30 in 2023, $1.83 in 2024 and $2.64 in 2025. The site then says Pundi X should reach an average of $3.91 in 2026, $5.96 in 2027, $8.58 in 2028 and $12.72 in 2029. Its Pundi X price prediction for 2030 is an average of $19.58.
Finally, CaptainAltCoin says PUNDIX should be worth just under $0.51 towards the end of September 2022 and around $0.50 in December – a bearish sentiment in the short term. However, the site also gives a Pundi X price prediction for 2025 of $1.27, while forecasting $3.16 for 2030 and $6.33 in 2040.
Pundi X crypto price predictions, like all crypto price predictions, should be treated with caution. Analysts’ forecasts are often wrong, especially when it comes to the long-term picture. Remember that many crypto forecasts, especially the longer-term ones, are derived entirely from algorithms, which can change at any moment.
Whatever happened to NPXS?
One last thing to note: While someone making an NPXS price prediction might have forecast a significant overall price fall after the announcement of the redenomination to PUNDIX, that is not what actually occurred. NPXS is also known as Pundi X (Old).
On 6 December 2021, NPXS closed at $0.0045. That was more than 2,000% higher than the intraday high the crypto had enjoyed on 6 December 2020. However, by March 2022 NPXS had fallen sharply, to a fraction of its previous highs. It is currently trading around the $0.0001 mark. Several analyst sites are looking more at PUNDIX than at making any new NPXS price predictions.
Is Pundi X a good investment?
It can be argued, at least by proponents of buying during dips, that now might be a good time to invest in Pundi X. That said, some caution is needed. We have seen the price of PUNDIX go down quite a bit since it launched last year.
Remember, cryptocurrencies are highly volatile and prices can go down as well as up. You will need to do your own research and never invest more than you can afford to lose.
Will Pundi X go up?
Supporters of buying during the dip might well tell you that cryptos which have lost value over the past 12 months are worth investigating. On the other hand, Pundi X has been in a bearish place for some time now.
Should I invest in Pundi X?
That is for you to decide. There is no sure way of telling whether the coin will stay where it is, rise again or fall even further, so if you do want to invest, make sure you do your research first – and remember never to invest any money you cannot afford to lose.