CELR Coin Pulls Back 60 Percent—Should You Buy the Dip?

Celer Network (CELR) is among the altcoins seeing active trading right now as investors hunt for the next big crypto opportunity. More than $360 million worth of the token has changed hands in the past 24 hours. What is CELR's price prediction for 2021 and when will it reach $1?

Celer Network crypto has seen volatile trading on May 19 with the price ranging from $0.04–$0.08. At $0.05 currently, the crypto has pulled back about 60 percent from its all-time high. That is in turn fueling interest in its price outlook as investors wonder whether the dip presents a buying opportunity.

Celer Network is a platform for building apps that run on the Ethereum blockchain. The company offers developers low-cost solutions to quickly produce and deploy good apps in a scalable blockchain framework. CELR is the token that powers the platform.  

The platform launched in 2018 and it has been expanding with more developers joining the community. While there are many so-called Ethereum Layer-2 platforms out there, Celer Network has sought to differentiate itself in many ways. For example, speed is one of its major draws.

Since Celer Network crypto has risen more than 4,000 percent from its all-time low, investors want to know where it might go next. It has recently pulled back from the peak, but can it rebound and rise more?

There are rumors on Reddit and other crypto forums that Celer Network could soon release an Ethereum-Polkadot DeFi bridge. If that happens, then there's a good chance that the CELR coin will rise more. Also, the token could rise on the coming platform upgrade.

Considering the token’s more than 1,200 percent gain so far in 2021 and looking at the growing popularity of DeFi products, many investors want to know CELR's price prediction. The recent pullback from the all-time high achieved in March is also fueling interest. Where will CELR end 2021 and be in 2025?

WalletInvestor forecasts that CELR's price will reach $0.13 a year from now and hit $0.46 in five years, which suggests more than 660 percent upside potential.

According to TradingBeasts, CELR coin will top $0.09 in July 2021 and reach $0.10 in December 2021. It predicts the crypto hitting $0.15 in 2024. Digital Coin Price predicts that the Celer Network token will close 2021 above $0.07 and reach $0.18 in 2025.

Celer Network crypto has traded between a low of $0.001 and an all-time high of $0.10 since its debut. It has retreated nearly 60 percent from its peak. The Celer Network community has long wanted to see the token reach $1. Elon Musk’s beloved Dogecoin community has the same target.

To reach that milestone, CELR's price will need to rise 1,900 percent from the current level. If the crypto is gaining 15 percent every month, it will need two years to hit $1, which suggests that it could get there by 2023.

Matic Network rebranded as Polygon (MATIC) but its mission remains the same. Celer Network and Polygon are rival platforms for building Ethereum apps. Each has its own crypto coin that investors have valued differently. The CELR coin trades for $0.05, while MATIC crypto costs $2. Both tokens have rallied lately with gains of more than 1,200 percent each YTD. 

There are 5.6 billion CELR coin in circulation and the crypto has a fixed supply of 10 billion tokens. Similarly, MATIC coin has a fixed supply of 10 billion tokens and 6.2 billion tokens are currently circulating. While Celer Network has a market cap of $340 million, Polygon’s market cap is $12 billion.