While many top cryptocurrencies have struggled recently, Dogecoin has just experienced a significant pump as Elon Musk has secured a currency transmitter license by Rhode Island’s regulators for the X app (formerly Twitter).
This means X can act as a crypto wallet so users can store and manage cryptos. Musk’s affiliation with Dogecoin caused the price to soar over 4% in the last 24 hours.
ChatGPT has weighed in on the situation, providing its short and long-term predictions for Dogecoin. Furthermore, it has offered forecasts for two other popular cryptos currently experiencing successful presales, Wall Street Memes and Sonik Coin.
Dogecoin Rallies Near Long-Term Support
Following the SEC’s attack on Coinbase and Binance in June, Dogecoin plunged to its June 2022 lows of around $0.053. Following this, the price rallied but was short-lived as it peaked in July and sold off again.
However, the bulls seemingly took control, with a long-wick candle on 17 August, followed by further upside growth.
This indicates the long-term support level of $0.053 is being respected and could signify a move towards the top of the trading zone in the weeks ahead.
That said, if DOGE revisits the $0.053 support before creating a higher high, this would be significantly bearish, opening the door to a potential break of support.
Still, considering its strong bounce, Musk’s advancement of the X app and numerous bullish fundamental events in the broader crypto market, Dogecoin looks positioned to reclaim a higher price.
ChatGPT Forecasts a 15x for Dogecoin in 2023
Despite relative uncertainty for Dogecoin over the past months, ChatGPT predicts the project’s short- and long-term future is bright.
According to its analysis, Dogecoin could reach highs of $0.5 in 2023. This would indicate a 15x from its current price of $0.06636.
However, while the prediction does maintain a long-term bullish outlook for Dogecoin, its highest predicted long-term price is $1, just a 2x from its expected 2023 price.
ChatGPT references Elon Musk’s influence on the project and the project’s ability to capture public attention when predicting Dogecoin’s price.
That said, Dogecoin already holds a $9.3 billion market cap. Even if Elon integrates Dogecoin into X, its high market cap limits its long-term upside potential. However, ChatGPT has also provided predictions for some smaller market cap tokens that are trending and could present more upside potential.
ChatGPT Forecasts Wall Street Memes Will Surge After Announcing its Tier-One Exchange Listings
Wall Street Memes is a meme coin currently undergoing a wildly successful presale. So far, the presale has raised over $25 million, and the team has recently secured multiple tier-one exchange listings that will go live in 27 days.
While numerous factors contribute to Wall Street Memes’ success, one of the most obvious is that its presale launched with Wall Street Memes already having over one million social media followers. Furthermore, Elon Musk has engaged with the Wall Street Memes Twitter account several times.
The reason for its unprecedented social clout is that it launched in 2021 as a crypto and stock meme brand and quickly became popular, attracting investors from both industries due to its inspiration from the Wall Street Bets Reddit movement.
Another factor driving Wall Street Memes’ success is its significant community rewards program. In celebration of the presale, Wall Street Memes is running a $50K airdrop to be split between five winners. Participants get up to seven entries for tasks like joining the Wall Street Memes Telegram.
ChatGPT is also impressed by Wall Street Memes, stating it expects the token to hit $0.5 by the end of the year, and possibly surge even higher.
With Wall Street Memes currently priced at $0.0337, this would see a significant return for early investors. With less than a month left of the presale, there’s only limited time to get involved before the $WSM IEO in late September.
Stake-to-Earn Sonik Coin Receives Bullish ChatGPT Prediction After Raising $850K
Another low-cap meme coin with significant upside potential is Sonik Coin, a project inspired by Sonic the Hedgehog, which aims to be the fastest meme coin to reach a $100 million market cap.
This is a tall order considering the monumental rise of some other meme coins, but as we see time and again, nothing should be ruled out when it comes to meme coins.
Despite launching recently, the Sonik Coin presale has already zoomed past $850K, with a hard cap of just over $2 million. This means the presale will likely be in short supply, leaving many investors sidelined and forced to buy following its exchange launch.
ChatGPT is certainly bullish on the project, predicting the token could see huge gains and end 2023 between $0.5 and $1, which would see presale investors net a significant return.
Furthermore, Sonik Coin boasts several advantages, giving it a head start in its race to a $100 million market cap. It boasts a Stake-to-Earn feature, giving holders passive rewards by simply staking their tokens. Furthermore, presale investors can begin staking immediately, so there is no waiting until the presale ends.
Stake-to-Earn has proven a hot feature lately, with Stake-to-Earn BTC20 pumping 6x following its presale, raising hopes Sonik could see similar growth.