Dubai Coin is a fairly new cryptocurrency that has recently been trending over the internet recently. Read on to know Dubai Coin price prediction.
A new cryptocurrency called Dubai Coin has recently been trending on the internet and among various crypto groups and forums. The coin has become quite popular since its recent inception, rising up more than 1000 per cent in 24 hours just after being introduced into the market. Dubai Coin has been built upon a public blockchain and is currently available on very few exchanges. Read on to know more about Dubai Coin and Dubai Coin Price Prediction.
Dubai Coin Price Prediction
Making crypto price predictions can be difficult. Fortunately, many crypto experts and websites have given a price prediction for Dubai Coin. At the time of writing this article, the price of Dubai Coin stands at $0.09, according to Digital Coin Price. Digital Coin Price predicts that the price of Dubai Coin could go up to $0.13 by 2021 and up to $0.29 by the end of 2025. The website Crypto Ground predicts that the price of Dubai Coin can go up to $0.42 in one year and up to $2.6 by the end of 5 years. The website Bitgur has given a short term prediction for the coin, claiming that the coin could reach up to $0.71 in 30 days, a highly optimistic outlook. As of now, interested investors can buy Dubai Coin on these crypto exchanges – HitBTC, Cryptopia. However, DubaiCoin is a fairly new cryptocurrency, and investors are advised to research the legitimacy of the coin before choosing to invest in such a brand new project.
About Dubai Coin Controversy
The creators of Dubai Coin announced that Dubai Coin will be used to pay for a range of goods and services both in-store and online, with the clear intention for the coin to be used in place of traditional bank-backed currencies. The company also announced that the circulation of the new digital currency will be controlled by both the city itself and authorised brokers, implying that the Dubai government also has a stake in this cryptocurrency.
Dubai Coin cryptocurrency was never approved by any official authority.
The website promoting the coin is an elaborate phishing campaign that is designed to steal personal information from its visitors. pic.twitter.com/Q0HBXfqaDO
— Dubai Media Office (@DXBMediaOffice) May 27, 2021
However, a Dubai authority rejected that claim, with a Tweet saying that Dubai Coin was never approved by any official Dubai authority. They also called the website promoting Dubai Coin an elaborate phishing campaign. You can check the official tweet here. So it appears, Dubai Coin is not an official Dubai government-backed cryptocurrency. You can take a more in-depth look at the coin here.
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