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Hive Price Prediction 2024: Can HIVE Cash in on Social Media Buzz?

Last Updated May 31, 2024 10:47 AM
Giuseppe Ciccomascolo
Last Updated May 31, 2024 10:47 AM

Key Takeaways

  • Hive launched its HIVE token in March 2020.
  • The coin may now receive a boost after the social media talk around it.
  • One price prediction expects it to reach $1.42 in 2025.

HIVE Blockchain (HIVE) has experienced a downtrend recently, with the crypto falling more than 20% in the past two weeks.

However, increased social media chatter around this and other cryptocurrencies might improve sentiment towards HIVE. Could this signal a bullish future for the stock?

On May 31, 2024, HIVE was worth about $0.3011.

Hive did not respond to a request for comment.

But what is Hive (HIVE)? How does it work? Let’s find out, and we can also look at some of the HIVE Price Predictions that were being made as of May 31, 2024.

Hive Price Prediction

Let’s examine some of the Hive price predictions made on May 31, 2024. It is crucial to remember that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.

2024 2025 2030
Prediction #1 $0.67 $0.78 $2.27
Prediction #2 $0.53 $1.42 $1.32
Prediction #3 $0.4660 $0.7335 $4.62

First, CoinCodex  had a short-term Hive price prediction that saw the token go to $0.32 by June 5 before jumping to $0.50 by June 30. The site’s technical analysis was bearish, with six indicators sending bullish signals and 23 making a discouraging one.

Hive Price Prediction for 2024

DigitalCoinPrice  said Hive would reach $0.67 this year, while CoinDataFlow  expects it to be at $0.53, and PricePrediction.net  said HIVE would close the year at $0.4660. 

Hive Price Prediction for 2025

PricePrediction.net said Hive would reach $0.7335 in 2025 and CoinDataFlow sees it at $1.42. DigitalCoinPrice said HIVE would trade at $0.78 next year.

Hive Price Prediction for 2030

Moving on to a more long-term Hive price prediction, CoinDataFlow said the token would be worth $1.32 in 2030 and PricePrediction.net expects it to be $4.62. DigitalCoinPrice made an HIVE price prediction of $2.27 at the start of the next decade.

Google Gemini AI Price Prediction for Hive (as of May 31)

Google’s Gemini platform gave the following price prediction for Hive on May 31. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve. Additionally, artificial intelligence price predictions are predicated on past performances and are in no way entirely accurate.

Short Term (Next three months)

  • Expected Price: $0.53
  • Factors to Consider:
    • Market trends: Look at the overall trend of the cryptocurrency market. Is it bullish or bearish?
    • Hive news and developments: Are there any upcoming events or developments that could affect the price of Hive?
    • Technical analysis: Use technical indicators to analyze the price history of Hive and identify potential trends.

Medium Term (Next six months)

  • Expected Price: $0.34
  • Factors to Consider:
    • Overall cryptocurrency market trends: The general sentiment of the crypto market can significantly impact Hive’s price. If the market experiences a bull run, Hive’s price is likely to rise as well.
    • Adoption and Use Cases of Hive: Increased adoption and development of applications on the Hive blockchain could drive demand for Hive tokens, potentially raising the price.
    • Regulations: Government regulations on cryptocurrencies can create uncertainty and impact prices.

Long Term (Next five years)

  • Expected Price: $1.32
  • Factors to Consider:
    • Adoption of the Hive blockchain: Increased use of the Hive blockchain for things like social media or DeFi could drive up demand for Hive tokens.
    • Overall cryptocurrency market trends: The price of Hive is likely to be affected by the broader cryptocurrency market. If cryptocurrencies become more widely accepted, Hive could benefit.
    • Regulations: Government regulations could potentially stifle the growth of the cryptocurrency market, impacting Hive’s price.

Hive Price History

Let’s now look at some of the highlights and lowlights of the Hive price history . While past performance should never be taken as an indicator of future results, knowing what the token has done can help give us some very useful context when it comes to either making or interpreting an Hive price prediction.

Hive price history
Hive price in 2023 and 2024. | Credit: CoinMarketCap

When Hive first came onto the open market on March 27, 2020, it was worth $0.2975. It then move sideways for a couple of years, never jumping above $1. HIVE only increased in November 2021, when it hit its all-time high at $2.9650 on November 11, 2021.

The coin ended that year at $0.88 before increasing to $1.20 on April 1, 2022. This was the last time Hive traded above $1.

HIVE then finished 2022 at $0.2619 and moved sideways for the next 18 months or so, being worth $0.3011 on May 31, 2024.

At that time, there were 500.8 million HIVE, representing the total supply. This gave Hive a market cap of about $151.1 million, making it the 366th largest crypto by that measurement.

Hive Historical Price Data

Period Hive Price
May 31, 2024 $0.3011
May 24, 2024 $0.3173
April 31, 2024 $0.2982
March 1, 2024 $0.3776
May 31, 2023 $0.3403
Launch price (March 27, 2020) $0.2975
All-time high (November 11, 2021) $2.9650
All-time low (April 6, 2020) $0.08694

Is Hive a Good Investment?

It is hard to say. The coin has been around for more than four years now, and its price has notably decreased since its late 2021 highs. It’s notably down from its all-time high, reached in November 2021, and there are no major bullish signs on the horizon.

As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in Hive.

Will Hive go up or down?

No one can really tell right now. While the Hive crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up. 

Should I invest in Hive?

Before you decide whether or not to invest in Hive, you will have to do your own research, not only on HIVE, but on other, related, coins and tokens such as Ethereum (ETH) and Solana (SOL). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

Hive (HIVE) Explained

Hive says  of itself being “one of the most decentralized blockchains. There is no single entity or organization that controls the network. Everything is run by the community members.

“The initiative behind the creation of Hive was decentralization. The community came together to create something that can not be overtaken by the centralized entities.”

How Hive Works

Hive is the base currency token for Hive Blog, which is like a general cryptocurrency like Bitcoin, Lightcoin, or Etherium. It is a liquid currency that users can trade, spend and transfer. Like other coins, it can be securely stored in a wallet and traded with other cryptocurrencies, such as Bitcoin or Ethereum.

Hive Attention Tracker

Hive Google search volume
Hive Google search volume for the last 90 days. | Credit: Google
Here is a chart for Hive’s Google search volume for the past 90 days. This represents how many times the terms “Hive HIVE” has been Googled over the previous 90 days.

FAQs

How many HIVE are there?

As of May 31, 2024, there were 500.8 million HIVE, representing the total supply.

Will HIVE reach $1?

CoinDataFlow expects it to reach that level next year already while DigitalCoinPrice and PricePrediction.net see HIVE hitting $1 in 2027.

Keep in mind that HIVE has already traded above $1 during its life and also above $2.

What is Hive used for?

HIVE validates transactions for blockchain networks and, by doing so, earns new crypto that can be used to monetize revenue and cash flow. The HIVE website highlights how it offers shareholders exposure to the operating margins of cryptocurrency mining, as well as a growing portfolio of cryptocurrencies.

Disclaimer

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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