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Meme coins remain popular, with investors eagerly seeking the next breakout star. Although the meme coin space is still led by Dogecoin (DOGE), new projects are launching every week.
In this article, we tasked ChatGPT with analyzing the current price action of several top meme coins before predicting where their values could go in 2024.
Dogecoin set for modest gains
Dogecoin,is often driven by social sentiment and popularity rather than fundamental factors.
Several factors could influence DOGE’s price in 2024, with community engagement and enthusiasm playing a pivotal role.
Broader crypto market trends also impact meme coins, and celebrity endorsements could lead to price swings.
Moreover, increased real-world adoption of DOGE by merchants could amplify demand.
Considering these influences, ChatGPT provided a bullish yet realistic prediction for Dogecoin.
Assuming market conditions are favorable and the DOGE community stays active, ChatGPT believes the coin could hit between $0.10 and $0.15 by the end of 2024.
Although this is an optimistic forecast, it’s not the exponential growth that early DOGE investors have become accustomed to over the years.
Sponge V2 could rally in 2024
Sponge V2 (SPONGEV2), unlike DOGE and BONK, hasn’t yet been listed on exchanges and gearing up for its open market debut in the coming weeks.
As its name suggests, SPONGEV2 is the second version of the SPONGE meme coin.
SPONGE’s launch on Uniswap resulted in 100x gains for early backers – and the creators are hoping to match (or beat) those gains when SPONGEV2 hits exchanges.
More than $4.3 million worth of SPONGE has been locked up in the ecosystem’s stake-to-bridge protocol ahead of the planned exchange listings.
Those who use this protocol can attain yields of 306% per year – although this figure will decrease over time as more SPONGE tokens are pledged.
Armed with this information, ChatGPT provided a bullish price prediction for SPONGEV2 in 2024.
Considering that SPONGEV2 will be integrated into an upcoming play-to-earn (P2E) racing game, there’s potential for solid price appreciation if the project gains traction.
ChatGPT also sees the existing community playing a pivotal role in the Sponge V2 token’s growth.
Putting this all together, ChatGPT forecasted that SPONGEV2 could rise to $0.006 in 2024.
BONK likely to recover
ChatGPT also provided an outlook for Bonk (BONK).
After surging throughout November and December, BONK is lower at the start of 2024.
The token is now hovering around $0.0000129 – a 63% drop from December’s all-time high.
However, BONK’s status as Solana’s top meme coin may catalyze demand.
ChatGPT considered this during its analysis, highlighting how positive developments on Solana could indirectly benefit BONK.
Additionally, the strength of the BONK community and further influencer backing might prompt a sharp rebound.
Taking these factors into account, ChatGPT gave a modest price prediction of $0.000015 to $0.000025 for BONK in 2024.
WIF & SNEK can grow
Lastly, dogwifhat (WIF) and Snek (SNEK) are another two meme coins that ChatGPT believes could be in for a fruitful year.
Both of these coins have made headlines in recent months after posting sharp price gains and the fact that they are non-Ethereum tokens.
In WIF’s case, the token is hosted on Solana, while SNEK is deployed on Cardano.
ChatGPT believes WIF deploying on Solana could be a huge boost since it will benefit from the network’s high throughput and low transaction costs.
In a bullish scenario, ChatGPT predicts WIF could hit $0.70.
ChatGPT also believes SNEK could be in line for more upside, citing expected growth on Cardano.
The AI model provided a bullish price range of between $0.0015 and $0.0020 for SNEK in 2024, representing healthy gains for those who invested at the current price of $0.00114.
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This article first appeared at crypto.news
