Although many assets in the cryptocurrency sector have resumed their bullish run from the previous weeks, Dogecoin (DOGE) still seems to be waiting for its turn, but artificial intelligence (AI) algorithms remain optimistic regarding DOGE price prediction for the end of 2024.
As it happens, the famous doge meme token has managed to increase its price by over 60% this year, and advanced AI and machine learning algorithms for Dogecoin price prediction have set it to grow by the year’s end, although specific figures differ from one platform to another.
Dogecoin price prediction 1-year chart. Source: CoinCodex
At the same time, the fourth model of the revolutionary OpenAI invention ChatGPT, called GPT-4, has offered a Dogecoin price prediction that sees it hitting a “conservative yet optimistic projection that could place DOGE in a potential price range of $0.20 to $0.35 by the end of 2024.”
Meanwhile, Claude 3 Opus, the latest AI model by Anthropic, has set the price of DOGE between $0.30 and $0.80 for the same period, which represents a slightly more optimistic prognosis than that of its OpenAI counterpart. According to Claude 3 Opus:
“This range takes into account the optimistic predictions of some experts, the historical volatility of DOGE, and the current trends in the cryptocurrency market.”
Dogecoin price analysis
As for its current price, Dogecoin was at the time of publication trading at $0.14691, which indicates it has declined by 1.93% on the day, in addition to dropping 16.90% in the last week while still holding onto the 74.02% gain on its monthly chart.
Dogecoin 30-day price chart. Source: Finbold
It is also worth noting that Tesla (NASDAQ: TSLA) CEO Elon Musk has recently announced that the electric vehicle (EV) producer plans to enable DOGE payments for its products, and some crypto trading experts, like Trader Tardigrade, have observed a strong momentum toward $1.
Dogecoin price prediction and analysis. Source: Trader Tardigrade
In conclusion, Dogecoin might, indeed, recover in the near future and continue to race towards $1 as the year’s end draws near, although things in the crypto sector can often change on a whim, so doing one’s own research before investing is critical.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
