Dogecoin (DOGE) and Shiba Inu (SHIB) have been two of the most popular meme coins over the past few years, boasting enormous communities and mainstream adoption.
Given the current volatility in the crypto market, many investors are contemplating whether DOGE or SHIB offers a better buying opportunity.
In this article, we discuss AI model ChatGPT’s thoughts on Dogecoin and Shiba Inu, before highlighting a new meme coin called Meme Kombat (MK) that the model believes could be the market’s next breakout star.
ChatGPT Predicts Range-Bound Trading Environment for Dogecoin
Dogecoin is trading around $0.058, showing poor momentum and a lack of clear direction.
While DOGE has tried to evolve beyond just a meme token and find more utility, its price remains stuck at lower levels without any significant new developments.
Given the absence of notable updates or endorsements and the current uncertain market conditions, ChatGPT predicts that Dogecoin will likely remain range-bound in the near term.
Unless investor enthusiasm improves dramatically, ChatGPT predicts DOGE will hover between $0.05 and $0.08 through the end of 2023 without a clear catalyst to break out in either direction.
Development Delays and Uncertainty Prompt Bearish ChatGPT Forecast for Shiba Inu
Shiba Inu is now hovering around the $0.0000068 level and facing similar challenges as Dogecoin.
SHIB is experiencing poor momentum and an uncertain market environment, plus delays in the development of its Shibarium network are hampering the token’s outlook.
With no apparent catalysts for a breakout, ChatGPT believes it’s unlikely Shiba Inu will see substantial gains by the end of the year.
The model predicts that SHIB will continue trading close to current levels near $0.0000068, potentially ranging between $0.0000050 and $0.0000090 through the end of the year.
ChatGPT anticipates a neutral to bearish outlook for SHIB into 2024, unless there is visible progress from the Shibarium developers or a turn for the better in market conditions.
ChatGPT Views Dogecoin as Safer Bet Among Meme Coins Currently
Given the lackluster momentum and unclear outlook for Dogecoin and Shiba Inu, ChatGPT views neither as a solid buy right now.
However, between the two, it believes DOGE may be the safer choice, based on the current market conditions.
Due to its longer history and established user base, Dogecoin holds a slight edge in market credibility over the lesser-known SHIB.
While both face uncertainty in the near term, ChatGPT suggests Dogecoin’s relative stability makes it a lower-risk investment for those seeking exposure to the meme coin space.
Overall, DOGE appears to be the better buy, though expectations should remain tempered heading into 2024.
ChatGPT Sets $1 Target for Meme Kombat
As Dogecoin and Shiba Inu struggle, a new meme coin called Meme Kombat (MK) is quickly grabbing attention.
Meme Kombat operates as a gaming platform, allowing users to stake MK tokens and bet on AI-powered meme battles.
With diverse betting opportunities and an array of game modes, Meme Kombat aims to differentiate itself from the other gaming platforms that operate in the meme coin space.
Alongside the battling mechanic, Meme Kombat also features a built-in staking protocol where MK holders can generate yields of 112% per year.
Supporting this protocol is a comprehensive smart contract audit from Coinsult, one of the world’s premier blockchain security firms.
While the development team, led by experienced founder Matt Whiteman, is finalizing the platform, early investors have the opportunity to buy MK tokens through a limited-time presale that has raised $480,000 to date.
MK tokens are available at a price of $0.1667, with the developers intending to launch them on the Uniswap DEX once the presale concludes.
With this context in mind, ChatGPT has offered an optimistic outlook for MK, projecting that its value could reach between $1.00 and $1.50 by the end of 2023.
While risks exist as with any new crypto asset, ChatGPT believes the upside potential is significant for Meme Kombat in the near term.
The post We Asked ChatGPT Whether Dogecoin or Shiba Inu Is a Better Buy Right Now appeared first on BeInCrypto.