With some assets in the cryptocurrency market seemingly breaking their bearish trend and others still waiting for their turn, Dogecoin (DOGE) has moved above the psychologically important threshold of $0.16, and artificial intelligence (AI) algorithms have mixed predictions for its price by the end of 2024.
As it happens, Dogecoin has managed to return above the $0.16 it maintained for most of the past week, returning to the steady growing trend it held since the year’s turn, albeit still below the yearly highs that witnessed it make a bullish rally to and beyond $0.20.
12-month DOGE price prediction chart. Source: CoinCodex
Elsewhere, the most recent iteration of OpenAI invention ChatGPT, called ChatGPT-4o, has offered a slightly bearish price range in comparison to the above, pointing out that the DOGE price forecast for the end of 2024 stood between $0.148 and $0.16, arguing that:
“This aligns with current forecasts and trends, factoring in various expert reports without indicating any sudden surges or drops expected within this year.”
Meanwhile, Claude 3 Opus by Anthropic cited Changelly’s long-term prediction of DOGE trading at around $2.14 by 2030 and Finder’s panel of finance experts, which has set the average price of Dogecoin at $0.266 by the end of 2024, placing its own projection between $0.137 and $0.266.
DOGE price analysis
For now, Dogecoin is changing hands at the price of $0.16096, recording a 1.31% gain in the last 24 hours, declining 1.43% across the previous seven days, while accumulating an advance of 28.44% over the past month, as per most recent charts on May 31.
Dogecoin price 30-day chart. Source: Finbold
It is also worth noting that renowned crypto trading expert Ali Martinez has observed an increase in the activity of Dogecoin’s whales, noting that the largest holders of the doge meme digital asset had bought a massive amount of DOGE in only three days, according to his X post on May 31.
Indeed, as per the data retrieved by the crypto analyst from the blockchain and social metrics monitoring platform Santiment, DOGE whales have purchased over 700 million of the currently eighth-largest asset in the crypto sector by market capitalization, worth around $112 million.
DOGE whale activities. Source: Ali Martinez
Earlier, a dormant Dogecoin whale, holding nearly 900,000 DOGE, stirred from its hibernation after more than ten years of inactivity, making their first transaction since May 2014, in which they transferred 23,338 DOGE to Binance, one of the largest crypto exchanges, as Finbold reported on May 24.
? A dormant address containing 893,303 #DOGE (147,524 USD) has just been activated after 10.4 years!https://t.co/iUi27LPA3b
— Whale Alert (@whale_alert) May 22, 2024All things considered, AI models seem divided regarding the future price action of the popular doge meme token, although some indicators suggest it might continue to grow towards the end of 2024, emphasizing the importance of carrying one’s own research when investing.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
