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TL;DR<\/p>\n
Dogecoin\u2019s jump above $0.20 has sparked speculation about its potential to reach $1 in 2024, with multiple factors being crucial for its future value movement.<\/span> The largest meme coin \u2013 Dogecoin (DOGE) \u2013 has been on a roll lately, with its price jumping by 30% in the past week and exceeding $0.20. We asked ChatGPT whether the resurgence could continue throughout 2024 and if the $1 milestone is reachable.<\/span><\/p>\n The popular AI-powered chatbot did not rule out that possibility, estimating that it depends on a variety of factors, with the main one being market adoption.<\/span><\/p>\n \u201cIf Dogecoin continues to expand its use cases and gains wider adoption as a payment method or for other services, this could positively impact its price.\u201d<\/span><\/p>\n<\/blockquote>\n Earlier this month, Tesla\u2019s CEO Elon Musk\u00a0<\/span>revealed<\/span>\u00a0that the EV giant might accept DOGE as a payment method \u201cat some point.\u201d<\/span><\/p>\n Musk has endorsed the meme coin countless times in the last few years, triggering substantial price rallies on most occasions.\u00a0<\/span><\/p>\n \u201cContinued support by Musk or prominent company could drive the price up,\u201d ChatGPT stated.<\/span><\/p>\n<\/blockquote>\n Favorable crypto market trends were named by ChatGPT next. According to the chatbot, a bullish cycle prevailing in the entire sector might lift the prices of numerous meme coins, including DOGE. Some analysts believe the industry is yet to witness a real bull run due to the upcoming Bitcoin halving (scheduled for next month).<\/span><\/p>\n Other factors that might also positively impact Dogecoin\u2019s value in the future include technological developments, regulatory environment, investor sentiment, and economic conditions.<\/span><\/p>\n Another meme coin that has made waves recently is Shiba Inu (SHIB). The asset\u2019s price has exploded by over 200% on a monthly scale, with its market cap briefly increasing above a whopping $25 billion.\u00a0<\/span><\/p>\n Not long ago, we\u00a0<\/span>asked<\/span>\u00a0ChatGPT whether the token could flip DOGE this year. The chatbot estimated that such a scenario depends on the further development of the Shiba Inu community. As\u00a0<\/span>CryptoPotato<\/span>\u00a0<\/span>reported<\/span>, SHIB has the strongest base among all meme coins, followed by Dogecoin and Pepe Coin.<\/span><\/p>\n Technological advancements related to the layer-2 scaling solution Shibarium could play a role, too. The network, launched in August last year, has completed several strategic milestones in the past several months. Most recently, total transactions\u00a0<\/span>surpassed<\/span>\u00a0the 400 million mark.<\/span><\/p>\n Those willing to learn more about Shibarium\u2019s purposes, please take a look at our dedicated video below:<\/span><\/p>\n<\/p>\n
\nShiba Inu (SHIB) has seen a 200% increase in price over a month, raising questions about its ability to surpass Dogecoin.<\/p>\n<\/span><\/h2>\n
What Are the Odds?<\/h2>\n
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Can SHIB Step on DOGE\u2019s Throne?<\/span><\/h2>\n