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Omni Network Price Prediction 2024: OMNI Falls After Launch, Was it Overvalued?

Last Updated May 3, 2024 10:14 AM
Giuseppe Ciccomascolo
Last Updated May 3, 2024 10:14 AM

Key Takeaways

  • Omni Netowrk’s OMNI token debuted on the market in April 2024.
  • Since then, the price has notably dropped.
  • One price prediction expects it to reach $102.07 in 2025.

Omni Network launched its native token OMNI around three weeks ago and it fell since its debut on the open market, raising concerns about its real valuation.

As the price is still dropping, is OMNI a buy chance or is it really overvalued?

Omni Network did not respond to a request for comment.

But what is Omni Network (OMNI)? How does It work? Let’s find out, and we can also look at some of the Omni Network Price Predictions that were being made as of May 3, 2024.

Omni Network Coin Price Prediction

Let’s examine some of the Omni Network price predictions made on May 3, 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 $42.63 $49.96 $144.56
Prediction #2 $37.93 $102.07 $95.03
Prediction #3 $31.15 $44.59 $290.32

First, CoinCodex  had a short-term Omni Network price prediction that saw the coin go to $25.38 by May 8 before jumping to $63.98 by June 2. The site’s technical analysis was bearish, with three indicators sending bullish signals and six making a discouraging one.

Omni Network Price Prediction for 2024

DigitalCoinPrice  said Omni Network would reach $42.63 this year, while CoinDataFlow  expects it to be at $37.93, and PricePrediction.net  said OMNI would close the year at $31.15. 

Omni Network Price Prediction for 2025

PricePrediction.net said Omni Network would reach $44.59 and CoinDataFlow sees it at $102.07. DigitalCoinPrice said OMNI would trade at $0.0569.

Omni Network Price Prediction for 2030

Moving on to a more long-term Omni Network price prediction, CoinDataFlow said the coin would be worth $95.03 in 2030 and PricePrediction.net expects it to be $290.32. DigitalCoinPrice made an OMNI price prediction of $144.56 at the start of the next decade.

Google Gemini AI Price Prediction for Omni Network (as of May 3)

Google’s Gemini AI platform gave the following price prediction for Omni Network on May 3. 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 not entirely accurate.

Short Term (Next three months)

  • Expected price: $65.24
  • Factors to Consider:
    • Market volatility: The cryptocurrency market is known for its high volatility, meaning prices can fluctuate rapidly.
    • Technical indicators: While some technical indicators suggest a potential rise, others might show bearish sentiment.
    • Fear and Greed Index: Currently, the Fear and Greed Index for OMNI is showing 67 (Greed), which could indicate a potential overvaluation and possible correction.

Medium Term (Next six months)

  • Expected price: $136.78
  • Factors to Consider:
    • Market sentiment: Bullish sentiment often leads to price increases, while bearish sentiment can lead to price decreases.
    • Technological advancements: Improvements or updates to the Omni Network protocol could increase its value.
    • Regulations: Government regulations on cryptocurrencies could have a significant impact on the price.
    • Adoption: Wider adoption of Omni Network by businesses and individuals could drive the price up.

Long Term (Next five years)

  • Expected price: $103.00
  • Factors to Consider:
    • Overall market sentiment: If the general sentiment towards cryptocurrency is bullish, then OMNI is likely to rise in price.
    • Adoption and usage: Increased adoption and use of the Omni Network will drive up demand for OMNI tokens, potentially increasing the price.
    • Regulations: Government regulations around cryptocurrency can significantly impact the price.
    • Development of the Omni Network: New features and functionalities added to the network could increase its value.

Omni Network Price History

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

Omni Netowrk price history
Omni Netowrk price in 2024. | Credit: CoinMarketCap

When Omni Network first entered the open market on April 17, 2024, it was worth $43.4141. It has since fallen and kept falling, reaching its lowest level of $16.92 on May 1. Two days later, it is worth $19.02.

At that time, there were 10.4 million OMNI, out of a total supply of 100 million. This gave Omni Network a market cap of about $197.2 million, making it the 276th largest crypto by that measurement.

Is Omni Network a Good Investment?

It is hard to say. The coin has been around for about three weeks now and its price has decreased notably since then.

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

Will Omni Network go up or down?

No one can really tell right now. While the Omni Network 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 Omni Network?

Before you decide whether or not to invest in Omni Network, you will have to do your own research, not only on OMNI, 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.

Omni Network (OMNI) Explained

Omni Network  is an Ethereum-native interoperability protocol that is designed to connect all Ethereum rollups, or scaling products, through low latency communications. It aims to offer a secure, efficient, and globally compatible architecture that will present Ethereum as a single, unified operating system.

How OMNI Works

The OMNI token lies at the heart of the Omni Network, serving as its lifeblood. It empowers developers to seamlessly engage in transactions within the network, rendering them indispensable for its seamless operation.

Operating on a dynamic supply model, the OMNI token steadily decreases in availability, thereby safeguarding its value. With a capped limit of 100,000,000 tokens, scarcity is ensured, fostering a robust ecosystem.

Leveraging a distinctive staking mechanism, OMNI tokens confer direct decision-making authority upon holders. Additionally, they are methodically distributed among stakeholders, including private entities, team members, and the general public, fostering unparalleled security and transparency within the network.

Omni Network Attention Tracker

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

FAQs

How many Omni Network are there?

As of May 3, 2024, there were 10.4 million OMNI, out of a total supply of 100 million.

Will OMNI reach $100?

Despite a discouraging start, main price predictions expect it to reach a three-figure value between 2025 and 2027.

What is Omni Network?

Omni Network is an Ethereum-native interoperability protocol that is designed to connect all Ethereum rollups, or scaling products, through low latency communications. It aims to offer a secure, efficient, and globally compatible architecture that will present Ethereum as a single, unified operating system.

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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