ChatGPT, the LLM AI Chatbot from OpenAI, has an attention-grabbing tackle Dogecoin and has projected a big worth improve. It suggests the token may attain the $9 mark inside a yr following the 2024 BTC halving.
This prediction displays a possible 11,078% surge from its present worth of round $0.9957. The formidable forecast attracts on historic information associated to DOGE’s worth efficiency in response to earlier Bitcoin halvings, indicating the potential for an analogous trajectory post-2024.
DOGE’s Historic Efficiency Following BTC Halvings
Historic information from TradingView exhibits a sample in DOGE’s worth actions in response to earlier BTC halvings. For example, roughly 234 days after the 2016 Bitcoin halving, the memecoin demonstrated a notable bullish sentiment.
This upward momentum led to a breakout from the bearish trendline that had endured from January 2014 to March 2017. From this level, it took a further 306 days for the token to achieve its 2018 peak of $0.01877, surging 9,221.40% from its March 2017 low of $0.00020.
One thing comparable occurred after the April 2020 Bitcoin halving. The memecoin developed a strong bullish sentiment 214 days after the halving and broke the bearish trendline in place from January 2018 to December 2020.
It then took the crypto 212 extra days to hit its all-time excessive of $0.73905 in Could 2021, an increase of 30,693.75% from a backside of $0.00240 in November 2020. This showcases potential big returns within the aftermath of Bitcoin halvings.
Projected Path to $9: Will DOGE Comply with the Identical Sample?
Primarily based on these patterns, ChatGPT has forecasted that DOGE might observe an analogous path following the April 2024 Bitcoin halving. Assuming the historic patterns maintain, the token may see a powerful bullish sentiment develop roughly 200 to 250 days post-halving. Furthermore, a peak may happen round 200 to 300 days following this optimistic sentiment.
Utilizing historic surges as a benchmark, ChatGPT conservatively estimates the memecoin’s potential worth improve to 9,000% and 30,000% from the low worth across the halving time. If the present low is roughly $0.9957, this estimate suggests the token may attain a worth vary between $9 and $30 inside a yr post-halving, assuming comparable market circumstances prevail.
DOGE Worth Motion
The latest worth exercise of the memecoin has been marked by volatility. Over the previous week, canine coin skilled vital worth fluctuations, with bullish momentum initially of the week being countered by bearish sentiment in the direction of the top.
Because of this, the token has struggled to take care of its place above the vital help degree of round $0.104. As of press time, DOGE trades at $0.9957, reflecting a 4.18% decline in comparison with the day before today’s worth.
Its market capitalization has equally contracted to $14.510 billion, positioning DOGE because the eighth largest cryptocurrency by market cap. Regardless of the downward worth motion, DOGE’s buying and selling quantity has elevated by 40.84%, reaching $745,094,790, indicating continued market curiosity within the token.
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