Though the meme coin market has pulled again prior to now week, merchants are nonetheless looking for the following massive factor.
Because of this, AI chatbot ChatGPT has waded into the motion by providing its value evaluation on a few of the market’s hottest tokens.
From established gamers like Dogecoin (DOGE) and Pepe (PEPE) to rising stars like Sponge V2 (SPONGEV2), which meme cash does ChatGPT consider may surge subsequent?
ChatGPT Unpacks Dogecoin’s Latest Volatility
Main the meme coin market is Dogecoin, the OG token that helped spark the craze.
DOGE’s value at the moment sits at $0.134 after a whirlwind few weeks.
ChatGPT notes that the coin skilled a 78% rally from January’s lows, peaking at $0.206 two weeks in the past earlier than pulling again considerably.
The AI mannequin attributes Dogecoin’s wild swings to renewed curiosity and optimism round meme cash.
Nonetheless, the pullback from its latest peak suggests an overheated rally – resulting in profit-taking from merchants.
Trying forward, ChatGPT sees Dogecoin’s trajectory persevering with to be influenced by its on-line group.
In a bullish situation wherein this group continues rising, and DOGE finds extra use circumstances, ChatGPT believes the coin may goal the $0.25 to $0.30 vary by yr’s finish.
This assumes favorable market situations, that are essential to meme cash’ success.
ChatGPT Weighs In on PEPE’s Price Prospects
One other meme coin catching ChatGPT’s consideration is Pepe, which lately hit an all-time excessive of $0.0000108 earlier than returning to present ranges round $0.00000723.
Regardless of the worth retracement, the chatbot notes that hype round PEPE stays elevated, suggesting the loyal group may gasoline one other rally.
Like with Dogecoin, ChatGPT attributes PEPE’s latest peak to the general buzz round meme cash.
PEPE’s all-time excessive possible stemmed from a frenzy of retail hypothesis that shortly cooled off as soon as buyers cashed out.
Within the close to time period, ChatGPT expects some consolidation for PEPE because the market digests its latest value actions.
Nonetheless, the AI mannequin does consider that additional shopping for strain is probably going if key assist ranges could be defended.
If demand does decide again up, ChatGPT sees PEPE doubtlessly revisiting its ATH – and even pushing as excessive as $0.000015.
Conversely, dwindling curiosity in meme cash may put PEPE prone to additional retracements.
Polygon-Based mostly Sponge V2 Attracts Bullish Price Prediction from ChatGPT
The meme coin that’s really catching ChatGPT’s consideration is Sponge V2 on Polygon.
The AI mannequin is very bullish on this challenge, pointing to its latest efficiency as an indication of immense potential in 2024.
After hitting an all-time excessive of $0.00423 on March 9, SPONGEV2 noticed a pullback, but it has rebounded 11% prior to now 12 hours.
ChatGPT is optimistic that this rebound could be sustained, and SPONGEV2’s rising group of over 51,000 holders is fueling this optimism additional.
In response to ChatGPT, this group progress is probably going as a result of Sponge V2’s upcoming play-to-earn (P2E) sport and lucrative staking rewards.
ChatGPT additionally believes Sponge V2’s migration to the scalable Polygon chain supplies a major benefit by tapping into that ecosystem.
Placing every part collectively, ChatGPT has a bullish long-term view of Sponge V2.
If the builders can execute their roadmap and proceed rising the holder base, ChatGPT believes SPONGEV2 may rise to $0.007 within the coming weeks.
This may signify a 159% improve from the token’s present worth.
So, though SPONGEV2 could also be going by means of a troublesome patch, ChatGPT believes the token nonetheless has upside potential below these circumstances.
Shiba Inu & Dogecoin20 Additionally On ChatGPT’s Radar
Whereas Sponge V2 appears to have captured ChatGPT’s creativeness, the AI mannequin hasn’t forgotten about different trending meme cash.
ChatGPT stays optimistic concerning the prospects for each Shiba Inu (SHIB) and the upcoming Dogecoin20 (DOGE20) challenge.
For SHIB, at the moment buying and selling at $0.0000254, ChatGPT notes the token is at the moment in a pointy pullback.
Nonetheless, the AI mannequin believes SHIB’s intensive ecosystem and token-burning mechanisms may lay the inspiration for a restoration.
If market sentiment improves, ChatGPT sees SHIB doubtlessly reaching $0.000035 within the short-to-medium time period – returning to the place it was in early March.
The AI is much more bullish on Dogecoin20, which has raised over $3.7 million in its ongoing presale at $0.000202 per token.
ChatGPT cites Dogecoin20’s high-yield staking protocol and imminent Uniswap launch as catalysts that would generate main hype within the close to future.
Assuming the presale momentum continues, ChatGPT believes the brand new token may rocket to as excessive as $0.004 this yr.
Ought to this situation play out, it will signify an unlimited 1,880% improve from the present DOGE20 value.
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