Home / Analysis / Crypto / Price Predictions / Neo Price Prediction 2024: Can NEO Cash in on Strong 2023?

Neo Price Prediction 2024: Can NEO Cash in on Strong 2023?

Last Updated February 23, 2024 2:41 PM
Peter Henn
Last Updated February 23, 2024 2:41 PM

  Key Takeaways

  • NEO, originally called AntShares, has been operating since 2014. 
  • The blockchain’s eponymous coin is in the 100 largest cryptos.
  • What’s next for NEO?
  • One NEO price prediction says it can reach $31.97 in 2025.

Despite its name, NEO is one of the longest-serving blockchains. The system, which was founded in 2014 and was rebranded to its current name in 2017, has served investors relatively well without ever doing anything spectacular.

Recently, though, NEO has been on something of a downturn in the wake of the market crash of June 2023. 

However, in October last year, NEO announced that it was launching  a new sidechain. This news took place as the market went up, taking NEO with it.

The coin had a positive 2023 but went on a rollercoaster in early 2024 and, now, a question arises: can it continue its run?

NEO did not immediately respond to a request for comment

But what is NEO? How does NEO work? Let’s see what we can find out, and also take a look at some of the NEO Price Predictions that were being made as of February 23, 2024.

NEO Coin Price Prediction

Let’s examine some of the NEO price predictions being made on February 23, 2024. It is crucial to bear in mind 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 $13.12 $25.33 $63.32
Prediction #2 $21.41 $29.91 $206.05
Prediction #3 $27.12 $31.97 $92.70

First, CoinCodex  had a short-term NEO price prediction which said the coin would reach $12.79 by February 28 and $12.69 by March 24. The site’s technical analysis was neutral, with 18 indicators making bullish signals and 12 making bearish ones. 

NEO Price Prediction for 2024

CaptainAltCoin  said NEO would close the year at $13.12. PricePrediction.net  said it would trade at $21.41 this year. DigitalCoinPrice  said it would be worth $27.12 by the end of 2024. 

NEO Price Prediction for 2025

Moving on, DigitalCoinPrice said NEO would reach $31.97 in 2025, while PricePrediction.net had it worth $29.91. CaptainAltCoin was more cautious, saying it would trade at $25.33 next year. 

NEO Price Prediction for 2030

Looking at a more long-term NEO price prediction, PricePrediction.net said the coin would reach $206.05 in 2030. DigitalCoinPrice thought it would stand at $92.70. CaptainAltCoin suggested it would trade at $63.32 at the start of the next decade. 

Google Gemini AI Price Prediction for NEO (as of February 23)

Google’s Gemini AI platform gave the following price prediction for NEO on February 23. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve. Additionally, artificial intelligent price predictions are predicated on past performances and are in no way entirely accurate.

Short Term (Next 3 months)

  • Expected price: $13.48
  • Factors to Consider:
    • Overall cryptocurrency market sentiment: If the broader market experiences a bullish trend, NEO could benefit. Conversely, a bearish market could lead to a price decline.
    • Development progress and news: Any positive updates or announcements related to NEO’s development roadmap could boost the price.
    • Adoption and usage: Increased adoption and use of NEO could increase demand and drive the price up.
    • Regulatory environment: Any changes in regulations affecting cryptocurrencies could impact NEO’s price.

Medium Term (Next 6 months)

  • Expected price: $13.29
  • Factors to Consider:
    • Overall Crypto Market Sentiment: If the market remains positive, NEO could benefit. However, a bearish market could see it fall.
    • Development of the NEO Ecosystem: Successful new projects and partnerships could boost demand for NEO.
    • Regulatory Environment: Changing regulations could impact the entire crypto industry, including NEO.
    • Adoption by Businesses and Institutions: Increased adoption could drive up the price of NEO.

Long Term (Next 5 years)

  • Expected price: $71.21
  • Factors to Consider:
    • Overall Crypto Market: If the market booms, NEO could benefit, but a crash could see it fall.
    • NEO Adoption and Development: Increased use of its blockchain and successful new dApps would boost demand.
    • Regulation: Changing regulations could affect the entire crypto industry.
    • Competition: Other smart contract platforms could impact NEO’s market share.

NEO Price History

Neo Price Analysis
NEO could fall below $10 before bouncing back up

Now, let’s examine some of the highlights and lowlights of the NEO price history . While we should never take past performance as an indicator of future results, knowing what the coin has achieved can provide us with some very useful context if we want to make or interpret a NEO price prediction.

What we now call NEO first came onto the open market in 2014. By 2017, it was rebranded as NEO and was worth about $0.10. Later on that year, the crypto market entered a bubble and NEO reached an all-time high of $196.85. 

The bubble burst, and NEO spent much of the following three years hovering around $10. 

In early 2021, the crypto market went through a bullish cycle, and NEO responded well, trading over $100 in May that year. The market fell after that, and NEO closed the year at $25.74.

2022 was one of the worst years the burgeoning crypto sector has experienced. NEO was not immune from a series of market crashes. It closed the year at $6.12. This meant it had lost more than 75% over 12 months.

NEO in 2023 and 2024

NEO price history
NEO price in 2023 and 2024 | Credit: CoinMarketCap

So far, 2023 has been a little more upbeat, although NEO has been in a new bearish cycle. It reached a high of $15.57 on February 21. Neo then fell, reaching a nadir of $7.07 on June 10. This coincided with Crypto.com suspending its American institutional operations. After that, there was some recovery, with it peaking at $10.68 on 1 July. Over the next few months, NEO’s price dropped again and, on October 19, it was worth $6.50. Following that, though, it shot back up and, on November 2, 2023, it was worth about $10.

It then ended 2023 at $13.94 and started a downtrend in January that brought the price to $10. NEO has then rebounded, reaching $12.38 on February 23, 2024.

At that time, there were about 70.5 million NEO in circulation, out of a total supply of 100 million. This gave the coin a market cap of around $873.1 million, making it the 86th largest crypto by that metric. 

NEO Price Analysis

 

The NEO cryptocurrency has been bearish market since its peak in May 2021. 

The recent surge to nearly $16 on November 5 suggests a potential onset of a new bullish phase for NEO. However, to confirm this trend, the market must see NEO reaching a new higher high beyond the $16 resistance level.

It is likely that NEO could fall to under $10 but, if it bounces back from that, it could reach $30.

Is NEO a Good Investment?

It is hard to say. NEO is perhaps best described as a stalwart of the world of crypto. It has never really done anything spectacularly interesting, but it is solid, stable, dependable, and well-established. 

Something potential investors may want to know is what NEO can do to make it stand out and bring in new customers. If it does this, it could, potentially, reach new levels and climb up a division. 

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

Will NEO go up or down?

No one can tell right now. While the NEO 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 NEO?

Before you decide whether or not to invest in NEO, you will have to do your research, not only on NEO, but on other, similar, coins and tokens such as Litecoin (LTC) or Ethereum Classic (ETC). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

Who are the Founders of NEO?

Chinese crypto entrepreneurs Da Hongfei  and Erik Zhang . Da is the founder of the Onchain blockchain company, while Zhang serves as Onchain’s CTO.

Who Owns the Most NEO?

On February 23, 2024, one wallet held 37.77% of NEO’s supply.

Richest NEO Wallet Addresses

On February 23 2024, the five wallets with the most NEO were

  • ANeo2toNeo3MigrationAddressxwPB2Hz. This wallet held 37,768,679 NEO, or 37.77% of the supply.
  • AQVh2pG732YvtNaxEGkQUei3YA4cvo7d2i. This wallet held 27,800,304 NEO, or 27.8% of the supply.
  • Ae2d6qj91YL3LVUMkza7WQsaTYjzjHm4z1. This wallet held 9,762,322 NEO, or 9.76% of the supply.
  • AZhafj46oNu6gn5CxRkdWVb7cDQF6okkL6. This wallet held 4,790,101 NEO, or 4.79% of the supply.
  • AYSQMLw3PpFuKGarsUWesfmgRjkSQ6cxkt. This wallet held 4,653,705 NEO, or 4.65% of the supply.

Fact Box

Supply and distribution Figures
Maximum supply 100,000,000
Circulating supply (On February 23 2024) 70,538,831
Holder distribution Top 10 holders own 88.77% of the maximum supply, as of February 23, 2024

From the Whitepaper

In its technical documentation or whitepaper , NEO says: “Neo is a distributed network which utilizes blockchain technology and digital identity to digitize assets and automate the management of digital assets using smart contracts. Neo network has two tokens, NEO representing the right to manage Neo blockchain and GAS representing the right to use the Neo Blockchain.”

NEO Explained

The NEO  platform is one of many crypto blockchains. It was founded in China in 2014 under the name AntShares.

The system aims to host a variety of decentralized applications (dApps). These operate using smart contracts, computer programs that automatically execute once certain conditions are met. 

Two native tokens support NEO, the eponymous NEO coin and the GAS token. 

How NEO Works

NEO uses a form of Proof-of-Stake (PoS) consensus mechanism. This means that people are chosen to add blocks to the blockchain and verify transactions based on how much NEO they hold. 

NEO coin holders can vote on changes to the network. Meanwhile, GAS, as its name implies, pays for transactions on the blockchain. 

People can also buy, sell, and trade NEO on crypto exchanges.

NEO Attention Tracker

NEO Google search volume
NEO Google search volume | Credit: Google

Here is a chart for the NEO Google search volume for the past 90 days. This represents how many times the term “NEO” has been Googled over the previous 90 days.

FAQs

How many NEO are there?

On February 23, 2024, there were about 70.5 million NEO in circulation out of a total supply of 100 million.

Will NEO reach $100?

It might do, but not for a while. Both PricePrediction.net and DigitalCoinPrice had it reaching three figures in 2030.

Keep in mind that NEO has not traded at more than $100 since May 2021.

What is NEO used for?

NEO coin holders can vote on changes to the NEO blockchain. People can also buy, sell, and trade NEO on exchanges.

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 user should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

Was this Article helpful? Yes No