The meme coin market has had a hectic week, with most tokens experiencing wild price swings as investors digest conflicting news stories about spot Bitcoin ETF approval.
In this article, we’ll explore ChatGPT’s 2024 price predictions for four of the most popular meme coins, providing insight into where their values could go in the weeks and months ahead.
Can DOGE Break Out and Post Stellar Gains in 2024?
First up is Dogecoin (DOGE), the world’s largest meme coin with a market cap of over $11.7 billion.
Interestingly, ChatGPT sees a bearish trend for DOGE through 2024 if sentiment and viral hype fail to return.
With DOGE down 23% since December’s high, ChatGPT believes dampened investor enthusiasm will keep the coin’s price low unless celebrity endorsements begin firing up interest again.
However, ChatGPT does note Dogecoin’s history of volatility and warns that it could see surprise rebounds.
Assuming no significant catalysts to rejuvenate the coin, ChatGPT sees DOGE potentially ranging between $0.09 and $0.12 as the broader crypto market trends upwards.
But if Dogecoin can channel its early viral hype days through fresh use cases, ChatGPT believes major positive price shocks are possible.
Pepe Positioned for Uneventful Year, According to ChatGPT Analysis
Turning to Pepe (PEPE), ChatGPT expects the token’s 32% monthly drop to continue affecting investor confidence in the near term.
Currently valued at just $0.00000118, ChatGPT notes that PEPE derives its value solely from social trends and engagement rather than financials.
With technical analysis signaling an ongoing bearish trend, PEPE could face substantial challenges to recover.
However, if PEPE’s team can begin the aggressive marketing campaigns again, ChatGPT believes the token could see a modest rebound driven by viral hype.
Assuming favorable market conditions, ChatGPT speculates that PEPE could range between $0.0000015 and $0.0000020 by the end of the year.
This would represent a slight uptick from PEPE’s current market value.
Ultimately, ChatGPT appears pessimistic about PEPE’s potential to repeat 2023’s exponential bull run.
ChatGPT Believes Upcoming Sponge V2 Token Is Primed for Huge Gains This Year
Unlike the two established cryptocurrencies discussed above, ChatGPT is highly optimistic about Sponge V2’s (SPONGEV2) growth prospects in 2024.
With SPONGEV2 poised to capitalize on the original Sponge’s momentum, upcoming developments like a play-to-earn (P2E) racing game and listings on major DEXs have left the AI model bullish.
Adding to this bullish sentiment is the Stake-to-Bridge setup, which allows holders of the original SPONGE to stake their tokens and earn SPONGEV2 as yield.
At the time of writing, yields are set at a whopping 412% per year.
ChatGPT believes these high yields, combined with SPONGEV2’s utility enhancements, could significantly drive investor demand in the year ahead.
Assuming investor hype ramps up, ChatGPT predicts SPONGEV2 could see massive growth to between $0.001 and $0.003 by the end of the year.
This would represent a potential return of 104% to 512% from the current SPONGE price.
ChatGPT’s bullish forecast will be warmly received by members of the Sponge Telegram community, many of whom believe the V2 version could exceed the original’s gains.
Would-be investors can buy SPONGE using the widget at sponge.vip and automatically stake the tokens to earn SPONGEV2 once officially launched.
Shibarium Growth Could Fuel SHIB Price Rise, Says ChatGPT
Lastly, ChatGPT sees room for recovery in Shiba Inu’s (SHIB) price despite the token’s current technical weakness.
ChatGPT notes increased usage of the Shibarium network and more transactions as promising indicators that adoption is steadily expanding, establishing stronger fundamentals for the world’s second-largest meme coin.
Assuming the crypto market trends positively this year and the SHIB community remains engaged, ChatGPT believes the token can shake off the recent bearishness.
Specifically, if Shibarium expansion translates to more SHIB ownership, ChatGPT puts an end-of-year price target range of between $0.000012 and $0.000018 for the token.
However, SHIB’s price remains highly volatile – and ChatGPT warns that sharp swings could upend its bullish outlook.