Elon Musk is synonymous with Dogecoin (DOGE) for crypto enthusiasts, having previously propelled the meme coin to its peak. Musk’s recent AI development, Grok, has provided a potential price prediction for DOGE, adding to the intrigue surrounding the cryptocurrency.
Grok, an advanced AI model developed by xAI under X (formerly known as Twitter), has indicated a possible rise for DOGE by the end of 2024. The AI suggests that closing the year within a $0.10 to $0.15 price range is plausible for Dogecoin.
Considering the recent mainstream interest and the launch of X payment, Grok’s optimistic forecast points to a $0.34 level. However, it also warns that regulatory challenges and a bearish market trend could push the price down to $0.05.
Looking back at 2023, Dogecoin’s price reached a peak of $0.107, aligning with Grok’s most likely scenario. To return to this range, a 25% increase from the current price of $0.079 is necessary.
Alternatively, gains could surge by 87.5%, potentially raising the price to $0.15. To achieve Grok’s highest prediction of $0.34, a 4.25x increase would be required. On the downside, a 37.5% loss could occur if the meme coin faces a bearish scenario. Currently, most indicators remain uncertain, with the Relative Strength Index (RSI) hovering around the neutral zone at 44.40.