ChatGPT analyzes if Dogecoin (DOGE) can hit $1 in 2024.

TL; DR

Dogecoin's jump above $0.20 has sparked speculation that it could reach $1 by 2024, with several factors critical to its future value movement.
Shiba Inu (SHIB) has seen a 200% price increase in one month, raising questions about its ability to outperform Dogecoin.

What are the odds?

The biggest meme coin – Dogecoin (DOGE) – has been on a roll lately, with its price jumping by 30% in the last week and above $0.20. We asked ChatGPT if the resurgence could continue in 2024 and if the $1 milestone could be reached.

The popular AI-powered chatbot does not deny this opportunity, assuming that it depends on various factors, the main market adoption.

“If Dogecoin continues to expand its use cases and gain widespread acceptance as a payment method or for other services, this could positively affect its value.”

Earlier this month, Tesla CEO Elon Musk revealed The EV giant may accept DOGE as a payment method “at some point.”

Musk has backed countless meme coins over the past few years, sparking massive price rallies in most cases.

“Continued support by Musk or a prominent company could increase the price,” ChatGPT said.

Appropriate crypto market trends are named next by ChatGPT. According to the chatbot, the bullish cycle throughout the sector could drive up the value of several meme coins, including Doge. Some analysts believe that the industry is yet to witness a true bull run due to the upcoming Bitcoin halving (scheduled for next month).

Other factors that can positively affect the future price of Dogecoin include technological developments, the regulatory environment, investor sentiment and economic conditions.

Can SHIB walk on the DOGE's throne?

Another meme coin that has made waves recently is Shiba Inu (SHIB). Asset prices have exploded by more than 200% month-on-month, with market capitalization rising to more than $25 billion in a short period of time.

A long time ago we he asked Discuss whether the token can topple DOGE this year. The chatbot speculated that such a situation would depend on the further development of the Shiba Inu community. as a Cryptopotato reportedSHIB has the strongest base among all meme coins, followed by Dogecoin and Pepe Coin.

Technological advances related to the Layer-2 scaling solution Shibarium may also play a role. Launched in August last year, this network has completed a number of strategic milestones over the past several months. Most recently, total transactions It has passed 400 million mark.

For those interested in learning more about the purposes of Shibarium, please watch our video below: