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Here’s when Dogecoin will hit $1, according to ChatGPT-4o

Here’s when Dogecoin will hit $1, according to ChatGPT-4o

Throughout its decade-long existence, the question of if and when Dogecoin (DOGE), the world’s original meme coin, can hit $1 has persisted.

The cryptocurrency came relatively close to reaching the milestone in April 2021 after Elon Musk alerted the wider public to its existence, but even then, DOGE stopped short of $0.70.

Additionally, while Dogecoin did rise significantly – approximately 45% by the time of publication –  during the 2024 crypto market bull run, it only barely managed to cross above $0.22 and even then, the coin held the level only briefly.

DOGE YTD price chart. Source: Finbold

Finally, with the hopes and the many expert predictions estimating the original meme coin may be set for a protracted and major long-term rally, Finbold decided to consult the most advanced version of OpenAI’s flagship artificial intelligence (AI) platform, ChatGPT-4o, on when – and indeed if – Dogecoin price will ever be worth more than $1.

ChatGPT analyzes the possibility of DOGE crossing above $1

At the very start of its analysis, ChatGPT considered the current realities of Dogecoin singling out the strong community support it has as major point in its favor, but also identifying an apparent lack of technological development and the inability to decisively break above $0.20 as major weaknesses.

ChatGPT assesses the state of Dogecoin as of June 17, 2024. Source: Finbold & ChatGPT-4o

Following from this, the AI concluded that factors in favor of Dogecoin reaching $1 lie precisely in community support, but also in the possibility it will get another celebrity endorsement – as it did from Musk in 2021 – and the chances that broader market conditions could lead to massive hype-driven rallies.

ChatGPT outlines the potential factors for a DOGE rally. Source: Finbold & ChatGPT-4o

On the other hand, ChatGPT proved far from convinced that DOGE would ever reach $1, with most of its arguments amounting to it being an online joke and nothing else of substance.

ChatGPT outlines factors detrimental to a potential DOGE rally. Source: Finbold & ChatGPT-4o

Such an analysis led the AI to conclude that the most likely scenario for Dogecoin in the foreseeable future would be persistent trading in the range between $0.10 and $0.30 – which, while wide, does not come close to breaking above $1.

ChatGPT describes the most likely scenario for DOGE. Source: Finbold & ChatGPT-4o

ChatGPT, however, did not rule out the possibility that the stars truly align – that the three main factors in favor of a Dogecoin rally come into play around the same time – and that DOGE aims above $1 in the mid to long-term.

ChatGPT describes a bullish scenario for DOGE. Source: Finbold & ChatGPT-4o

It also explained that the opposite may come true just as easily and that it is plausible that DOGE loses what cultural relevance it has – especially if a broader downturn or a regulatory crackdown takes place – and drops toward $0.05 or less before it can ever strive for $1.

ChatGPT describes a bearish scenario for DOGE. Source: Finbold & ChatGPT-4o

ChatGPT sets the exact date for DOGE crossing above $1

Finally, ChatGPT agreed to attempt and predict the first plausible date for Dogecoin reaching $1. The AI estimated that should the third quarter of 2024 see steady growth in the crypto markets, the fourth quarter might lead to unprecedented adoption of digital assets.

Such a timeline could lead to an initially slow, but continually accelerating rally for multiple cryptocurrencies that could turbocharger DOGE enough to cross above $1 by June 1, 2025 – in just under one year’s time. 

It is worth noting that, throughout its analysis, the AI repeatedly warned that even should Dogecoin cross above $1, the true challenge would be holding the price.

ChatGPT provides a hypothetical road DOGE might take to reach $1. Source: Finbold and ChatGPT-4o

It is also worth noting that ChatGPT first estimated January 1, 2025, as the likely date for DOGE crossing the $1 milestone. Said assessment was quickly invalidated due it stemming from the AI believing the Bitcoin (BTC) halving is yet to take place and the assumption that it would lead to a far greater crypto market rally in its immediate aftermath.

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