The crypto market has seen extreme volatility over the past week, with major coins like Bitcoin and Ethereum experiencing substantial price swings.
Amidst this volatility, Google’s new AI chatbot Bard has weighed in with a price prediction for Dogecoin, which has surprised many investors.
Based on its current presale momentum, Bard has also highlighted a lesser-known meme coin, Sonik Coin, which it believes is primed for a significant pump.
Dogecoin Price Sinks 16% as Sell-Off Intensifies
$DOGE is currently trading around the $0.062 level following a 16% drop in the past week.
After enjoying sustained bullish momentum throughout June and July, Dogecoin has since capitulated, erasing most of its gains.
During last week’s sharp drop, price crashed through the 20-day Exponential Moving Average (EMA) on the weekly price chart, signaling that traders’ short-term sentiment has flipped bearish.
However, there could be a silver lining for $DOGE holders, given that the price rejected the strong support zone at around $0.057.
This zone has been rejected four times since September 2022, indicating that it might be serving as a floor for Dogecoin’s price in the near term.
Moreover, CoinGecko sentiment analysis shows that 53% of users are “feeling good” about Dogecoin today, suggesting that there’s still optimism among meme coin enthusiasts.
Bard Predicts Dogecoin Price Pump Despite Bearish Wave
Interestingly, Google’s AI Bard has provided an upbeat price prediction for Dogecoin despite its recent slump.
Bard forecasts that if the bullish momentum resumes for $DOGE, the meme coin could reach $0.10 by the end of 2023.
This price target represents a 60% increase from Dogecoin’s current price, and if achieved, it would mark a significant reversal for the token.
Bard’s optimistic outlook is based on several potential catalysts that might reignite buying interest in $DOGE, including its broader adoption by businesses and merchants.
According to Cryptwerk.com, $DOGE is accepted by 2,182 merchants worldwide – so if this figure can continue increasing, Bard believes the coin’s value will rise in tandem.
Bard also noted that increased media hype could benefit the coin’s price trajectory.
Given these potential catalysts, Bard remains confident that Dogecoin can leave its recent troubles behind and post impressive gains before the end of 2023.
Which Other Meme Coins Does Google Bard Think Could Pump?
Aside from its bullish Dogecoin forecast, Google Bard also highlighted the potential of a new meme coin called Sonik Coin ($SONIK).
Sonik Coin is in its presale phase, which has now raised over $250,000 – all in less than one week.
Bard Believes Trending Sonik Coin Could Soar 200% as Presale Hype Builds
Momentum is beginning to build around Sonik Coin, with early-bird investors able to purchase $SONIK tokens for just $0.000014.
As its name suggests, $SONIK draws inspiration from the classic video game character Sonic the Hedgehog, tapping into the nostalgia surrounding this cultural icon.
Sonik Coin’s branding has given it a viral boost, with the project’s official Telegram channel seeing an influx of new members in recent days.
Much focus has been placed on the $SONIK staking protocol, which allows investors to lock up their tokens and earn yields currently sitting at over 220% per year.
According to Sonik Coin’s staking dashboard, 10.4 billion $SONIK tokens have been staked already, showcasing the community’s early trust in the project.
Google Bard seems to believe this trust is well-placed, with the AI chatbot speculating that $SONIK’s value could climb to $0.000042 by the end of the year – a 200% increase from the current presale price.
This implies that a hypothetical investment of $3,000 in the Sonik Coin presale could grow to $9,000 by December 31st, if Bard’s prediction holds true.
With strong community engagement and growing presale traction, Bard sees excellent potential for $SONIK – making it a token to watch closely going forward.