Dogecoin remains the largest meme coin globally, boasting a market cap of over $10.4 billion.
However, it has not all been plain sailing for $DOGE recently, with volatile price swings wreaking havoc on investors’ portfolios.
Responding to this uncertainty, ChatGPT has weighed in on where the Dogecoin price could go next – offering some much-needed clarity to long-term holders.
Dogecoin Price Drops as Bears Take Over
Dogecoin has had a crazy few weeks, with the coin’s price rising throughout July before collapsing in the past ten days.
Since peaking on July 25, the $DOGE price has dropped over 11%, with the coin now trading around $0.074.
Unfortunately for $DOGE holders, price could not break the resistance zone located around $0.083 – a zone that also halted price back in April.
Adding to the woes of $DOGE bulls is the fact that price has also fallen below the 20-day Exponential Moving Average (EMA), indicating that the short-term trend has flipped bearish.
Price is now testing this EMA as resistance from the other side – and if it cannot break back above, it could signal a further drop for Dogecoin.
Given the bearish price action, it’s no surprise that the $DOGE trading volume has dropped 16% in the past 24 hours, according to data from CoinMarketCap.
Investors are opting to stay out of the market, waiting to see what Dogecoin does next.
ChatGPT Remains a $DOGE Optimist Despite Gloomy Technicals
While the recent price action paints a gloomy picture for $DOGE in the short term, ChatGPT remains bullish on the coin’s prospects – which goes against the prevailing technicals.
As noted by ChatGPT, $DOGE could rebound and surge back to the $0.085 level by the end of August, which would be a 15% increase from the current price.
ChatGPT notes that the general enthusiasm surrounding the meme coin space would likely be a driving force for a Dogecoin turnaround – a statement that will be music to the ears of long-term holders.
Looking even further ahead, ChatGPT expects the bullish momentum behind $DOGE to continue throughout the rest of 2023, predicting that the coin could hit $0.115 by the end of the year.
Should this prediction come true, it would mean a 54% rise from today’s price, putting $DOGE back at the same level it was in November 2022.
Ultimately, time will tell whether ChatGPT’s forecasts prove accurate or not, but for now, it’s fair to say that the next few weeks could be pivotal for Dogecoin.
Which Other Meme Coins Is ChatGPT Bullish On?
Aside from Dogecoin, ChatGPT also holds an optimistic outlook for several other projects in the meme coin space.
Two of these projects are Shibie Coin and Wall Street Memes – both showcasing impressive growth in their respective presale phases.
ChatGPT Forecasts a Bright Future for Barbie-Themed $SHIBIE Coin
First up is Shibie Coin ($SHIBIE) – a brand-new meme coin that just launched its presale phase this week.
$SHIBIE blends the iconic aesthetic of Barbie with the appeal of the $SHIB token, creating a fusion that has never been seen before in the meme coin space.
Given the recent success of pop culture-themed tokens like $PEPE and $TURBO, early investors hope that $SHIBIE can follow a similar trajectory once it makes its market debut.
However, before this debut, interested investors can buy $SHIBIE for just $0.000167, which is expected to be a discount on the token’s planned listing price.
As shown in Shibie Coin’s whitepaper, the presale has a hard cap of just $999,999, which is lower than most crypto presale projects.
Should the current momentum continue, there’s a solid chance Shibie Coin’s presale could sell out in the coming weeks – an event ChatGPT believes will precipitate a significant price pump.
ChatGPT predicts that the $SHIBIE price could soar to $0.00050 by the end of 2023, which would be an impressive 199% increase from the current presale price.
This optimistic forecast has helped further the buzz around Shibie Coin – setting the stage for a fruitful few months ahead.
Visit Shibie Coin Presale
ChatGPT Believes Wall Street Memes is Set for Exponential Rise After $20m Presale Raise
Another meme coin that ChatGPT thinks is set for big things is Wall Street Memes ($WSM).
As its name implies, Wall Street Memes looks to tap into the power of the WallStreetBets subculture, which formed following the GameStop short squeeze in 2021.
However, Wall Street Memes has a colossal community in its own right, with over 1.1 million followers spread across platforms like Twitter and Instagram.
The team behind Wall Street Memes has already achieved success in the digital assets market, thanks to the 2021 launch of the Wall St Bulls NFT collection.
This collection sold out in just 32 minutes, raising $2.5 million for the creators.
Wall Street Memes’ team has now launched $WSM, aiming to give back to the community by allowing members to obtain a financial stake in the brand’s future growth.
ChatGPT believes this approach could prove lucrative – and expects the $WSM price to soar once it hits the open market.
As predicted by ChatGPT, $WSM could reach $0.12 by the end of 2023, representing a return of 265% for those who invest during the current presale stage.
Only time will tell whether ChatGPT’s forecast comes true, but for now, the ongoing momentum makes $WSM a token worth watching.
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