Cryptocurrency

Bitcoin ETF

Dogecoin

Elon Musk

<div class="finbold">
 <p class="paragraph">With Dogecoin (DOGE) currently holding the top spot as the leading meme cryptocurrency in market capitalization, the community remains focused on its price trajectory, with the ambitious goal of reaching the $1 mark.</p>
 <p class="paragraph">The likelihood of DOGE achieving this milestone remains a subject of speculation, considering the token’s tendency to follow the broader crypto market regarding trading patterns. Moreover, the challenge of reaching $1 is compounded by the absence of significant fundamentals compared to assets such as Bitcoin (BTC).</p>
 <p class="paragraph">Seeking insights into the potential timeline for Dogecoin hitting $1, Finbold turned to the artificial intelligence (AI) tool Google Bard.</p>
 <h2 class="wp-block-heading" id="h-when-will-doge-hit-1">When will DOGE hit $1?</h2>
 <p class="paragraph">Bard acknowledged that the possibility of DOGE reaching $1 remains high, pointing to potential catalysts such as increased adoption and utility. Should the cryptocurrency expand its utility beyond speculative trading and find practical applications, like broader merchant acceptance or integration into decentralized finance (DeFi) applications, it could experience a surge in demand and a corresponding increase in overall value.</p>
 <div class="not-prose relative overflow-auto scrollbar-hide mb-8 mt-8">
  <div class="relative w-full flex gap-6 snap-x snap-mandatory overflow-x-auto">
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2024/01/17/0a3588addff40533e9dee01bf8502b44.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="xrp-price-prediction-amid-ripple-s-potential-ties-with-u-s-government">XRP price prediction amid Ripple's potential ties with U.S. government</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2024/01/16/0fcb4644994f938981c748b88f6f820a.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="microsoft-s-copilot-ai-predicts-shib-price-for-end-of-2024">Microsoft’s Copilot AI predicts SHIB price for end of 2024</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2024/01/16/4eb3ff4d3ef17011692d4b90426de4c4.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="100-billion-wiped-from-the-crypto-market-in-under-a-week">$100 billion wiped from the crypto market in under a week</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2024/01/17/5825f54fa9e59781dd8853a8c7eb5872.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="hedge-fund-manager-lists-5-reasons-why-bitcoin-etf-failed-to-meet-expectations">Hedge fund manager lists 5 reasons why Bitcoin ETF failed to meet expectations</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2024/01/17/98e608b562cf6b001abfe998881b8b02.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="binance-copy-trading-averages-over-2-billion-weekly-since-launch">Binance copy trading averages over $2 billion weekly since launch</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <p class="paragraph">In addition, the tool highlighted that a positive upswing in the broader cryptocurrency market could favor Dogecoin’s value, bringing it closer to the elusive $1 mark.</p>
 <p class="paragraph">Brad also identified the role of meme coin’s community. The AI platform noted that the actively engaged DOGE community plays a pivotal role in shaping its price. Coordinated buying efforts and renewed interest sparked by influencers or celebrities can drive up Dogecoin’s value, inching it closer to the desired $1 threshold.</p>
 <p class="paragraph">Significantly, if these favorable factors align, the AI tool emphasized that DOGE might achieve the coveted valuation by 2030.</p>
 <p class="paragraph">On the flip side, Brad identified several challenges in pursuing the $1 mark. The tool pointed out unlimited supply, competition, and regulatory uncertainty as key barriers to the cryptocurrency’s price trajectory.</p>
 <figure class="wp-block-image aligncenter size-full"><img decoding="async" width="933" height="247" src="https://cdn.thebittimes.com/images/2024/01/17/25bee6d50b9128359bb8ecb635031581.webp" alt class="wp-image-149552" srcset="https://cdn.thebittimes.com/images/2024/01/17/25bee6d50b9128359bb8ecb635031581.webp 933w, https://cdn.thebittimes.com/images/2024/01/17/25bee6d50b9128359bb8ecb635031581.webp 300w, https://cdn.thebittimes.com/images/2024/01/17/25bee6d50b9128359bb8ecb635031581.webp 768w" sizes="(max-width: 933px) 100vw, 933px">
  <figcaption class="wp-element-caption"><em>Dogecoin Google Bard outlook. Source: Google Bard</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="dogecoin-key-fundamentals">Dogecoin key fundamentals&nbsp;</h2>
 <p class="paragraph">In the meantime, DOGE’s price trajectory hopes to be influenced by recent fundamentals that saw the coin rally to historic levels in 2021. Notably, the support from Tesla (NASDAQ: TSLA) CEO Elon Musk remains crucial.&nbsp;</p>
 <p class="paragraph">Musk remains bullish on Dogecoin, speculating that the meme coin will likely find use cases on the upcoming X (formerly Twitter) payment system.</p>
 <p class="paragraph">At the same time, the DOGE community remains on edge regarding the next price trajectory, with the coin witnessing significant whale transactions. Specifically, on January 16, a whale transferred 990 million DOGE from an unknown wallet to another unknown wallet.</p>
 <p class="paragraph">In this scenario, speculations are rife that the transfer might signal an upcoming dump.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">990,000,000 #DOGE (79,757,842 USD) transferred from unknown wallet to unknown wallethttps://t.co/Jtf8HzANTK</p>— Whale Alert (@whale_alert) January 16, 2024
   </blockquote>
  </div>
 </figure>
 <h2 class="wp-block-heading" id="doge-price-analysis">DOGE price analysis&nbsp;</h2>
 <p class="paragraph">By press time, DOGE was valued at $0.08, experiencing daily losses of over 1%. However, the coin is up by 2% on the weekly chart.</p>
 <figure class="wp-block-image aligncenter size-large"><img decoding="async" width="1024" height="683" src="https://cdn.thebittimes.com/images/2024/01/17/9abb6ac81a8b77934fdf977e7368e566.webp" alt class="wp-image-149553" srcset="https://cdn.thebittimes.com/images/2024/01/17/9abb6ac81a8b77934fdf977e7368e566.webp 1024w, https://cdn.thebittimes.com/images/2024/01/17/9abb6ac81a8b77934fdf977e7368e566.webp 300w, https://cdn.thebittimes.com/images/2024/01/17/9abb6ac81a8b77934fdf977e7368e566.webp 768w, https://cdn.thebittimes.com/images/2024/01/17/9abb6ac81a8b77934fdf977e7368e566.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>Dogecoin seven-day price chart. Source: Finbold</em>
  </figcaption>
 </figure>
 <p class="paragraph">Notably, for DOGE to reach $1, it would require a price increase of $0.92 or 1150% from its current valuation of $0.08. In its journey towards the $1 mark, the coin needs to reclaim its previous all-time high of $0.73, witnessed in May 2021. This implies that DOGE is currently $0.65 or 812.5% away from its last record high.</p>
 <p class="paragraph">In conclusion, attention remains focused on DOGE and whether the coin will avoid further short-term drops even as the market seeks to stabilize amid a bearish trend.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em>&nbsp;The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
 <p class="paragraph"></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/google-bard-identifies-when-dogecoin-doge-will-likely-hit-1-tbt76828.html">https://thebittimes.com/google-bard-identifies-when-dogecoin-doge-will-likely-hit-1-tbt76828.html</a></p>

Google Bard identifies when Dogecoin (DOGE) will likely hit $1

Table of Contents

TheBitTimes

Other articles published on Jan 17, 2024

CapCut for Pet Lovers: Editing Adorable Animal Photos

Polygon (MATIC) Price Faces Crossroads – 2 Key Scenarios for the Future Trend

Saudi Arabia’s Aramco strengthens its Venture Capital arm with $4 billion boost

Calamari Network surges 53% following Manta announcements

Bitcoin's Price Signals Hope, but Bears Lurk in the Shadows

Crypto Analysts Forecasts Major Bull Run for Litecoin, Solana, and NuggetRush in 2024

Join our free newsletter for daily crypto updates!