We just asked ChatGPT how high Floki (FLOKI), Shiba Inu (SHIB), Dogwifhat (WIF), Pepe (PEPE) and Dogecoin (DOGE) prices could go in 2024 and it gave a very surprising set of answers.
Floki, Shiba Inu, Dogwifhat, Pepe and Dogecoin are the five biggest and best-known meme coins, as per CoinMarketCap.
And over the course of the last month, the meme coin market has been on a tear.
The Dogecoin price has doubled, while FLOKI, SHIB, WIF and PEPE have gained between 3-9x.
The pump comes in wake of the Bitcoin price pushing to fresh record highs above $70,000 on huge ETF inflows.
And with many anticipating that Bitcoin could vault beyond $100,000 in 2024, the meme coin rally could have legs.
That is certainly the view taken by ChatGPT.
Here’s How High ChatGPT Thinks FLOKI, SHIB, WIF, PEPE and DOGE Can Go in 2024
“Meme coins have been gaining significant traction lately, and there are several reasons why they could potentially see even greater percentage gains than Bitcoin,” ChatGPT told analysts at Cryptonews.com.
The chatbot then proceeded to explain why community strength, social media presence, market sentiment and a low entry barrier could all contribute to meme coin upside:
Community Strength: Meme coins like Dogecoin, Shiba Inu, Pepe, Floki, and Dogwifhat have established strong and passionate communities. These communities often drive enthusiasm, adoption, and engagement with the coins, which can result in rapid price appreciation.
Social Media Presence: As you mentioned, these coins have amassed substantial followings on platforms like Twitter, indicating a high level of social media engagement. This widespread presence helps in spreading awareness and attracting new investors, contributing to upward price momentum.
Low Entry Barrier: Meme coins typically have low entry barriers, allowing even small investors to participate. This accessibility can lead to a surge in demand, especially during speculative bull markets.
Market Sentiment: During bull markets, investor sentiment tends to be optimistic, fostering a “fear of missing out” (FOMO) mentality. Meme coins, with their quirky and entertaining nature, often capitalize on this sentiment, driving up demand and prices.
Regarding potential market caps, ChatGPT gave some bullish projections.
Dogecoin: With its strong community and widespread adoption, Dogecoin could potentially see its market cap rise to $100 billion or even higher in 2024.
Shiba Inu: Given its growing popularity and market acceptance, Shiba Inu’s market cap could potentially surpass $50 billion.
Pepe: Pepe’s market cap could reach $10 billion or more, driven by its dedicated community and potential utility applications.
Floki: Floki’s market cap may climb to around $5 billion, propelled by its meme status and community engagement.
Dogwifhat: With its niche following and unique appeal, Dogwifhat could see its market cap reach $1 billion or more.
Of course, with a market cap of last around $3.12 billion, ChatGPT appears to have malfunctioned somewhat when predicting Dogwifhat’s potential upside.
But the trend is clear. The chatbot thinks the major meme coins could yet post gains of 2-3x.
ChatGPT did warn, however, “it’s important to note that predicting cryptocurrency prices and market caps is highly speculative and subject to various factors such as market dynamics, regulatory changes, technological developments, and investor sentiment”.
Meme Coin Alternatives to Consider
The above-mentioned meme coins all have their upside potentials limited by their already bloated market caps.
Here are a few smaller, lesser-known meme projects that could deliver investors much larger potential upside.
Scotty the AI ($SCOTTY)
Scotty the AI is a brand new Ethereum-based dog-themed meme coin, but with an important difference.
Scotty the AI isn’t just another Shiba Inu. Scotty is a Scottish Terrier.
And unlike the likes of Dogecoin, Shiba Inu and Bonk, Scotty is a meme coin that is packed with utility.
Scotty the AI features an agile threat-detecting AI system that tirelessly ensures the integrity of the cryptoverse by sniffing out potential threats, suspicious transactions, network anomalies, and security breaches.
And Scotty is rewarding his army of fans with his unconditional loyalty as their on-chain, AI-powered guard dog.
Scotty the AI also features a security chatbot and will be the star of an upcoming play-to-earn (P2E) game.
Scotty the AI just launched an initial coin offering (ICO).
Having already raised a whopping more than $4 million, it’s already being talked about as 2024’s best presale.
Investors are racing to secure their $SCOTTY tokens given they are on sale for $0.00803 each, a very low price.
Indeed, given the total $SCOTTY supply of 1,734,567,890, investors getting tokens at $0.00803 are essentially buying to Scotty at a market cap of around $14 million.
If Scotty achieves its goal of becoming a household meme coin name, it could easily reach $200 million.
Scotty thus ranks as one of the best crypto meme coins to buy now.
Visit Scotty Here
Smog (SMOG)
A Solana-based meme coin called Smog (SMOG) has been turning a lot of heads recently as its price pumps.
Its price has pumped nearly 8x since late February to reach a market cap of $270 million, as per DEXTools.
The dragon-themed token markets itself as offering Solana’s greatest airdrop of all time.
Traders can qualify for the airdrop by buying a holding SMOG on Solana, or staking the token on Ethereum.
Even though its market cap remains modest, SMOG already boasts a strong community.
Indeed, as per birdeye.so, it already has over 60,000 holders.
Given all the excitement about Solana airdrops in recent months, SMOG could gain significant interest in the coming weeks.
SMOG could deliver at least 10x gains to investors, hence its rank in the best crypto meme coins to buy now.
Traders should note that they can clinch a 10% discount when buying SMOG directly through the project’s website.
They can also stake their tokens for a 42% APY.
Buy SMOG Here
The post We Asked ChatGPT How High Floki, Shiba Inu, DogWifHat, Pepe and Dogecoin Price Can Go in 2024 appeared first on Cryptonews.