We asked ChatGPT how high the values of Floki (FLOKI), Shiba Inu (SHIB), Dogwifhat (WIF), Pepe (PEPE) and Dogecoin (DOGE) could reach in 2024.
According to CoinMarketCap, the most popular meme currencies are Floki, Shiba Inu, Dogwifhat, Pepe, and Dogecoin.
There was a boom in the meme coin market last month.
FLOKI, SHIB, WIF and PEPE increased by 3-9 times while Dogecoin doubled.
The pump follows Bitcoin's record high above $70,000 in ETF inflows.
While many expect Bitcoin to reach $100,000 in 2024, the meme coin's rise may continue.
ChatGPT definitely believes in this.
“Meme coins have been gaining significant traction lately, and there are several reasons why they could potentially see larger percentage gains than Bitcoin,” ChatGPT told Cryptonews.com experts.
The chatbot then explained why the meme coin's rise could be attributed to the strength of the community, social media visibility, market sentiment, and minimal barriers to entry:
Strong Communities: Dogecoin, Shiba Inu, Pepe, Floki and Dogwifhat have passionate communities. These networks encourage coin adoption, passion, and participation, which can quickly increase prices.
Meme coins offer minimal barriers to entry, so even small investors can participate.
During bull markets, investor optimism creates “fear of missing out” (FOMO). Meme coins, with their unique and humorous characters, often capitalize on this sentiment, causing demand and prices to increase.
ChatGPT predicted bullish market values.
Dogecoin: Its strong community and broad acceptance could push its market cap to $100 billion or more by 2024.
Shiba Inu: Due to its growing popularity, its market value may exceed $50 billion.
Pepe: Pepe's community and public service practices could push his market cap to $10 billion or more.
Floki: Meme status and community involvement could boost market cap to $5 billion.
Dogwifhat: Narrow fan base and unique appeal could push market cap to $1 billion or more
