Both Grok and Dogecoin (DOGE) share Elon Musk’s vision and influence, besides the passion of a similar community of enthusiasts. The former is an advanced artificial intelligence (AI) model developed by xAI, a subsidiary of X (formerly Twitter).
Notably, Finbold discovered that Grok is currently bullish on DOGE for the end of 2024. The AI expects Dogecoin to close the year in the most likely price range of $0.10 to $0.15.
Moreover, Grok has set $0.34 as the most optimistic price, considering increased adoption as payment and mainstream interest. In the meantime, it limits a downfall to as low as $0.05, facing regulatory challenges and a bearish cryptocurrency market.
Grok AI predicts DOGE price for the end of 2024. Source: Finbold
Elon Musk’s AI is still an early release, but it is already proving itself as a valuable tool for insights. Recently, Grok named one ideal cryptocurrency for payments on X in a demonstration of its data processing abilities.
Dogecoin price analysis and Grok AI’s forecast
Interestingly, Dogecoin reached a local top at $0.107 at the end of 2023, which validates Grok’s most likely scenario. Entering Grok’s forecasted price range would mean a 25% increase from DOGE’s price of $0.079 by press time.
However, these gains could be as high as 87.5%, even inside the most likely scenario, rallying to $0.15. It would mean a 4.25 times increase if Dogecoin reaches the most bullish forecast at $0.34. On the other hand, the meme coin would lose 37.5% of its value following the bearish outlook.
DOGE/USD daily price chart. Source: TradingView
At this point, uncertainty dominates most indicators, which could drive Dogecoin’s price up or downwards. DOGE’s daily Relative Strength Index (RSI) validates the current neutrality as cryptocurrency traders look for any possible hints.
In this context, investors must remain cautious and properly manage risk to improve trading results. Dogecoin is still highly influenced by Elon Musk, which increases its unpredictability and possible volatility as a digital asset.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
