REN coin price prediction: What might happen to REN?
The REN coin has been doing well lately, but do REN coin price predictions think it can keep it up?
REN is the native token of the Ren network, which aims to allow people to transfer their assets between blockchains. This coin has started to make a recovery after being hit by the events of the great day crash on 19 May. But what is the current REN coin price prediction?
REN coin explained
REN coins first came on to the open market in February 2018. Back then, the market was going through a strong bull run, and many people wanted to cash in on the crypto boom.
The REN token is paid to people who maintain computers called DarkNodes on the network. Everyone who wants to operate a DarkNode needs to pay a ‘good behaviour’ deposit of 100,000 REN. That is an incredibly simplified version of what the REN coin does and what the Ren network is. If you want to find out more, we have written about it here.
Before we can talk about the future, let’s have a look at REN’s price history. While past performance is no guarantee of future results, it can help us put things into context.
How REN has done
REN was available on the day it launched, 21 February 2018, for $0.0798. There was certainly interest in the new token, as the following day it reached an intraday high of $0.9145. The buzz was seemingly short-lived, however, as by 8 March it was at an intraday low of $0.0545. The next day saw it dip to $0.04877 in intraday trading before recovering slightly to $0.05416.
The coin spent the next few weeks hovering around the $0.05 mark, dipping further to reach below $0.04 on a few occasions before rallying to close at $0.07111 on 16 April. It hit an intraday high of $0.1049 on 3 May, remaining somewhere around this level for the next few weeks. But the price was unsustainable and started to decline. On 23 May, it stood above $0.1 – the last day it was this high for quite some time.
The price slowly went down, reaching an all-time low of $0.01548 on 27 November 2018. While it never quite sank to these depths again, the next year or so was hardly spectacular for the REN coin. It spent most of the first half of 2019 below $0.04, breaking through that barrier in late May 2019. It went past $0.10 in early July and then settled down to somewhere around $0.05, without breaking $0.10 again until late May 2020.
REN/USD price history
|Oct 15, 2021||1.0401||0.0447||4.49%||0.9954||1.0953||0.9663|
|Oct 14, 2021||0.9957||0.0134||1.36%||0.9823||1.0449||0.9704|
|Oct 13, 2021||0.9823||-0.0137||-1.38%||0.9960||1.0123||0.9323|
|Oct 12, 2021||0.9966||-0.0056||-0.56%||1.0022||1.0048||0.9273|
|Oct 11, 2021||1.0019||0.0027||0.27%||0.9992||1.1332||0.9711|
|Oct 10, 2021||0.9990||-0.0009||-0.09%||0.9999||1.0129||0.9919|
|Oct 8, 2021||1.0870||-0.0512||-4.50%||1.1382||1.1385||1.0808|
|Oct 7, 2021||1.1390||0.0207||1.85%||1.1183||1.1600||1.0712|
|Oct 6, 2021||1.1182||-0.0682||-5.75%||1.1864||1.2076||1.0867|
|Oct 5, 2021||1.1862||0.0362||3.15%||1.1500||1.2904||1.1355|
|Oct 4, 2021||1.1500||-0.0472||-3.94%||1.1972||1.2175||1.0910|
|Oct 3, 2021||1.1968||0.0240||2.05%||1.1728||1.2035||1.1633|
|Oct 1, 2021||1.0292||0.1018||10.98%||0.9274||1.0458||0.8983|
|Sep 30, 2021||0.9272||0.0187||2.06%||0.9085||0.9635||0.8889|
|Sep 29, 2021||0.9083||-0.0048||-0.53%||0.9131||1.0033||0.8830|
|Sep 28, 2021||0.9136||-0.0991||-9.79%||1.0127||1.0293||0.9131|
|Sep 27, 2021||1.0125||-0.1292||-11.32%||1.1417||1.1473||1.0082|
|Sep 26, 2021||1.1422||0.0257||2.30%||1.1165||1.1611||1.0858|
|Sep 24, 2021||1.0923||0.1956||21.81%||0.8967||1.1017||0.8742|
|Sep 23, 2021||0.8987||0.0749||9.09%||0.8238||0.8990||0.7824|
REN in 2021
The last few months of 2020 were a bit more encouraging, as the coin consistently traded at over $0.20 before closing the year at $0.3213. While REN was born in a boom, we had not really seen what it could do in an ultra-bullish market.
With crypto experiencing massive growth in early 2021, REN got caught up in the excitement. The coin’s price went up and up, breaking the $1 mark on 11 February and reaching an all-time high of $1.83 on 20 February. But it couldn’t hold that price, and on 25 March fell to an intraday low of $0.8129.
REN soon rebounded and spent much of the first half of April above $1, before slowly falling to hover between $0.70 and $0.90.
The coin was already in decline when disaster struck. The great day crash of 19 May hit most cryptocurrencies hard, and REN fell from an intraday high of $0.7631 to an intraday low of $0.363 before recovering to close at $0.469. A REN price of between $0.30 and $0.50 became the new normal in the wake of the crash, but things got better at the end of August, with an opening price of $0.5025 on 17 August turning into a closing price of $0.6531 on 23 August.
There were peaks and troughs, but the 29 August intraday high of $0.7037 saw it reach $0.70 for the first time since 19 May. A high of $0.8011 on 31 August was its highest price since before the great day crash. The price then dropped to $0.62 the day after the 7 September crypto crash, but then gradually recovered over the month. In the afternoon of 8 October 2021, it was trading at around $1.11.
That's the history of REN’s performance thus far. But what of its future? What sort of REN coin price predictions are being made?
REN coin predictions
Here are a few predictions from various sites. First, Wallet Investor’s REN price prediction is pretty bullish. The site says REN should reach $1.614 in a year’s time and $3.496 in five years’ time.
Meanwhile, DigitalCoinPrice is also optimistic. Its REN price prediction 2021 sees it reach $1.52 by the end of the year. The price could then rise to $2.23 in October 2022, $2.07 in October 2023 and $2.36 in October 2024. Its REN price prediction for October 2025 is $3.26, rising to $3.47 in October 2026. A year from that, the REN price is predicted to be $4.18, with REN hitting $5.34 in October 2028.
Finally, gov.capital predicts the REN coin price will reach around $1.31 at the end of 2021. Its REN coin price prediction for next year says it will be about $2.35 on 8 October 2022 and about $4.04 a year from that. The same date in 2024 should see its REN price prediction stand at about $6.12, and 12 months on it should be about $8.64. The site’s REN coin price prediction for 8 October 2026 is $11.62.
It might do. Gov.capital suggests that it could hit that mark at any time from February 2026 on. However, other forecasts are much less optimistic. It is worth remembering that predictions are very often wrong. You should always conduct your own research before investing in any asset, especially one as volatile as a crytopcurruncy.
Cryptocurrencies can be incredibly volatile, and prices can go down as well as up. You should always do your own research. And never invest money you cannot afford to lose.