The Claude Opus AI analysis predicts that Dogecoin (DOGE) could reach a price range between $0.35 and $0.50 by the end of 2024. The tool suggests that DOGE might continue its upward trend at a more moderate pace. In a bullish scenario, the AI projected that DOGE could surge to $0.75 to $1.00 amid a significant cryptocurrency market bull run. Additionally, with potential mainstream adoption, DOGE's value could approach the $1 mark.

Dogecoin has been gaining utility in various sectors, such as payments, and its association with Tesla CEO Elon Musk may create more use cases. There are expectations of Dogecoin integration into the X Payments system following Musk's involvement. However, a market correction or shift in investor sentiment could lead to a retracement in DOGE's price. Nevertheless, the analysis indicates that DOGE is likely to trade between $0.15 and $0.20 for the remainder of 2024.

DOGE’s Increasing Activity

As Dogecoin’s price surged, its network activity also saw a rise. The number of Dogecoin holders has reached approximately 7 million, partly due to the token’s valuation and the launch of the GigaWallet v1.0 by the Dogecoin Foundation. The GigaWallet aims to facilitate seamless Dogecoin payments integration for businesses through API.

Furthermore, Dogecoin’s bullish momentum is expected to continue with news about Coinbase planning to introduce DOGE futures products on April 1. This announcement aligns with an uptick in whale transactions involving Dogecoin. Crypto analyst Ali Martinez revealed significant whale accumulation of around 280 million tokens over the past two weeks, hinting at potential price growth ahead for DOGE.

At the time of writing, DOGE was trading at $0.199, showing a 7% decrease in the last 24 hours. However, over the past week, DOGE has seen a 15% increase in price.

Disclaimer: The information provided in this article does not constitute investment advice. All investments involve risk and speculative decisions should be made carefully.

Source: The Bit Times