With the release of OpenAI’s text-based AI tool ChatGPT, there has been a resurgence in AI tools. These tools have improved their capacity to analyze cryptocurrencies by interpreting online data. One of them, Alphabet’s AI tool Google Bard, is one of the prominent ones in the market. So we asked Google Bard for DOGE, SHIB and XLM forecasts. The artificial intelligence tool presented us its projections as of August 1.
Factors contributing to DOGE price forecast
In particular, Bard offered a detailed analysis of the factors that contributed to DOGE’s potential price hike if Musk did indeed pay X. This includes previous posts about the meme coin, which often precede a price spike. Bard predicts that X will provide DOGE with a lot of exposure to new users. He predicts that this could lead to an increase in demand for DOGE and raise its price.
Finally, Bard underlines that the possible integration of DOGE payments with X will allow people to use digital currency more easily when purchasing goods and services. As a result, he emphasizes that this will help increase the price of DOGE. On the other hand, the artificial intelligence platform also lists some factors that could limit the rise of DOGE, such as the fluctuations in the crypto market and the strengthening of competitors aiming to become the “currency of the internet”, which may affect the price of DOGE despite possible payment integration.
Specific figures for DOGE estimation
In terms of exact figures, Bard lists several potential price targets, starting with $0.10, a relatively conservative target that would represent a 1,000% increase from its current price if X integrates payments. His second prediction is a further bullish target of $0.25, which would indicate a gain of 2,500% from its current price. The most optimistic DOGE price target was $0.50, indicating a 5,000% price advance.
DOGE price targets if it integrates X payments. Source: Google Bard
Factors at play that will affect SHIB price
Bard does a thorough analysis for the Shiba Inu. He highlights that there are “a number of factors that can contribute to the price increase,” including Shibarium’s adoption by developers, the level of efficiency and scalability it offers, and positive news about the entire ecosystem. However, Bard states that some negative news could be factors that could negatively affect the SHIB price. Among them, he counts the decline in the overall cryptocurrency market first. He also talks about negative events related to the Shiba Inu ecosystem, such as a security breach or a ‘rug-pull’.
SHIB analysis. Source: Google BardSpecific figures for SHIB estimation
In terms of specific numbers, Bard lists SHIB price predictions using multiple sources. In this context, he predicts the meme coin price to be $0.0000259 by the end of 2023. Also, his second forecast shows that SHIB will reach $0.0000289 in 2023. The latest estimate places SHIB somewhere between $0.00001419 and $0.00002204 over the same period.
Factors affecting XLM price
As you follow on Kriptokoin.com, Judge Analisa Torres ruled that the sale of XRP on public exchanges on July 13, 2023 did not violate US securities laws. Following this decision, Stellar (XLM) gained more than 60% in the following days. XLM’s rise in value hits 14-month high. Moreover, on July 13, it recorded a remarkable increase of 100% during the day.
Bard states that although XLM price has pulled back, it still remains above pre-decision levels. It also highlights that Stellar continues to be adopted by more businesses and organizations. Specifically, Bitso, Latin America’s leading crypto exchange, has integrated Stellar’s Anchor Network to allow companies worldwide to make low-cost USDC payments to Argentina, Mexico and Colombia. Meanwhile, leading crypto exchange Coinbase has also recently integrated with Stellar. Now fully supports USDC deposits and withdrawals via Blockchain network
XLM price prediction
Its recent performance points to a bearish trend for XLM. It also reveals that there have only been 12 green days in the last 30 days. This shows that upward price movements are realized by 40%. Based on insights gathered from multiple online sources, the prevailing sentiment does not appear to support a significant price increase for XLM until the end of 2023. Despite its recent positive performance, five price predictions from various platforms indicate that XLM is not expected to trade above $0.20 for the foreseeable future.
XLM end of 2023 price predictions. Source Google BardStellar is currently trading at $0.1548. It fell slightly by 2.90% in one day. However, despite this short-term decline, it showed resilience throughout the week. Thus, it recorded a remarkable increase of 5.13.
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