RUNE coin price prediction: Is thorchain a good investment?

It’s one of this year’s hottest cryptos, but what’s the RUNE coin price prediction?

RUNE coin                                 
There has been a lot of talk about thorchain. Will the price go up? Photo: Shutterstock
                                

The RUNE coin is the native token of the THORChain decentralised exchange network. It is part of a system that got its own mainnet in April this year, after spending more than two years operating as a separate blockchain on the cosmos network.

There has been a lot of talk about thorchain, so let’s take a look at the RUNE coin price prediction.

First, let’s take a look at RUNE’s price history. While past performance is no guarantee of future results, seeing how the coin has behaved in the past can help when making a thorchain price prediction. 

Rune coin price history: Foundation and growth

RUNE started trading on the open market long before the THORChain mainnet was up and running. The coin itself launched in 2019 and, on 25 June 2019 it was trading at $0.01577.

The coin then spent the rest of the next year or so hovering around this mark but, as the launch of THORChain approached, things started to heat up and it switched to trading at around $0.06 in July 2020.

There was slow and steady growth and RUNE broke through the $1 barrier for the first time on 28 December 2020 before closing the year at $1.17. What happened next may well have made any previous thorchain coin price prediction look out of date.

Anticipation built up in January, with the coin breaking through $2 on 16 January before rising above $3 on 28 January. The price growth had not stopped, though, and it hit a monthly high intraday on 31 January of $4.03 before falling back down to close the month at $3.62, which represented a monthly rise of more than 200%.

February saw RUNE caught up in the bullish market surrounding cryptocurrency in early 2021. Not only did the coin break the $5 mark intraday on 20 February to reach a monthly high of $5.66, but it ended the month at $5.18, up 43% from the end of January.

In March, the coin continued to grow, rising above $6 on 3 March, topping $7 on 30 March and reaching a monthly high of $8.03 the next day before closing both the day and the month at $7.94, up 53% month on month. A positive RUNE coin price prediction would no doubt have followed. 

Mainnet goes live

April was the month where the THORChain mainnet went live, and this pushed the price up even further. The coin went past the $10 barrier on 4 April, and on 19 April it reached a monthly high of $16.93.

There was some pushback with peaks and troughs, and the coin enjoyed a closing price of $15.40. This was a monthly rise of about 93.95%, reflecting the upbeat nature of many a thorcoin crypto price prediction at the time. 

Things looked as if they were getting even better throughout May. The price went up and threatened the $20 mark, which finally fell on 16 May. It didn’t stop there, though, and an all-time high was reached on 19 May, when it reached an intraday figure of $21.26.

While things looked very upbeat, hopes were soon to be dashed. The Great Crypto Day Crash of that date hit the RUNE coin and the RUNE coin price prediction pretty hard. The coin fell to an intraday low of $10.25, more than halving in the space of hours, before recovering slightly to close at $11.68.

The rest of the month saw it in the doldrums, closing up at $12.66, down more than 17% over the course of the month. 

RUNE price history: A new paradigm

RUNE price history
RUNE price history - Credit: Currency.com

There was little to be cheered about in June. While the initial shock of the events of May 19 were bad, what happened in the aftermath was worse. The coin ended up falling to below $10 for the first time since the new mainnet was launched, and it closed the month at $6.76, a fall of 46% from the end of May.

Meanwhile, July represented stagnation followed by some, but not enough, recovery. There was a monthly low of $3.04 on 20 July and the month’s closing price of $6.34 was still a 6% drop from the end of June.

August was the month where the cryptocurrency market started to recover from what had happened to it in the middle of May. Gains were made and, in what was a psychologically crucial moment for the coin’s price, it returned to above $10 on 21 August.

Peaks and troughs

There were peaks and troughs to follow, and RUNE dropped below $10 in time to close the month at $9.88, up more than 55% from the end of July.

September saw growth, with the price rising above $10 on the first day of the month and hovering around that figure before suffering a pullback towards the end of the month, when the closing figure of $6.96 represented a fall of nearly 30%.

October, on the other hand, was more positive in its outlook. The $10 mark went on 22 October, while a monthly high of $14.99 on 30 October was followed by a monthly close of $14.80. This meant that the price went up more than 100% over the month.

November started well, with the month’s second day seeing a monthly high of $17.26. However, there was some fallback. On the one hand, the coin spending the whole of November above $10 was good news for investors, but the fact remains that it closed the month down nearly 25% at $11.30.

RUNE appeared to be stuck in a bearish trend and, as of the afternoon of 2 November, it was trading at about $10.55.

RUNE coin price forecast

With that done, let’s look at the RUNE coin price prediction. Keep in mind that crypto forecasts, especially long-term ones, are very often wrong. Furthermore, the predictions are often done by an algorithm and can change at very short notice. 

First, WalletInvestor’s RUNE coin price prediction for 2022 sees it reach about $20.45 in a year’s time. The site suggests it will be worth around $57.79 in five years.

Meanwhile, PricePrediction.net has a thorchain crypto forecast which suggests it should have an average price of $16.60 in 2022, $24.76 in 2023, $37.04 in 2024 and $55.41 in 2025. In five years’ time, the average price should be $78.20, with the following year’s average $109.30 and an average price of $157.28 in 2028. The 2029 average price looks like being $226.32 while the site’s RUNE coin price prediction for 2030 is an average of $325.66.

Finally, gov.capital says that RUNE should stand at about $26.84 on 2 December 2022, $51.47 a year after that and around $83.81 in 2024. The site has a RUNE coin price prediction for 2025 that says it will reach $123.04 on 2 December that year, and 12 months after that it should be about $169.99.

FAQs

Possibly. While it has had its ups and downs lately, it is worth noting that its current price is more than 10 times what it was worth a year ago. However, you will need to do your own research, remember prices can go down as well as up, and never invest more than you can afford to lose.

It could do. It is worth noting that, while its price is considerably more than it was 12 months ago, it has been much higher in the relatively recent past. Regardless, you must do your own research – remember cryptocurrencies are highly volatile and prices can go down as well as up. Never invest more money than you can afford to lose.

Only you can answer this question. You should do your own research and come up with your own conclusions. 

Further reading

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