The Elon Musk-approved OpenAI Foundation’s newest chatbot, ChatGPT, has taken the Bitcoin and altcoin community by storm with its typing ability over the weekend. Twitter-approved user Slashdot asked ChatGPT to write a poem about the meme token Dogecoin (DOGE). After this development, the DOGE price jumped. Here are the details…
OpenAI’s ChatGPT praises DOGE
ChatGPT wrote a poem describing DOGE as a legitimate entity for global payment. Musk, the billionaire owner of Twitter, had funded OpenAI, the nonprofit team behind ChatGPT. With the development, crypto traders have bought and sold over $670 million in DOGE in the last 24 hours. The meme token received praise from the artificial intelligence (AI) powered solution. ChatGPT described DOGE as a force to be reckoned with. It also identified as a legitimate entity to facilitate cross-border transactions. The text of ChatGPT included the following statements:
Dogecoin is not just a novelty; It is a legitimate form of currency used by many to process and facilitate transactions and payments easily and quickly, making it a truly valuable asset in the financial world.
On top of that, the cryptocurrency community also praised ChatGPT’s legendary typing proficiency. Still, question marks about the usage and usefulness of DOGE remain in the minds of users. According to a research paper by OriginStamp, Dogecoin, the eighth largest crypto by market cap, has no real-world utility to support its value and the asset is purely speculation.
Altcoin price rises
In particular, Dogecoin backer Elon Musk sponsored OpenAI, the nonprofit team behind ChatGPT. Recently, there has been speculation that Twitter will integrate DOGE as a payment solution into its social media platform. Meanwhile, as we reported on Kriptokoin.com, the new billionaire owner of Twitter underlined the potential changes to Twitter 2.0 from a private meeting. Speculation over the use of DOGE has increased after he posted slides that left a gap in the proposed payment option.
Meanwhile, the value of Dogecoin has increased by 2.27 percent in the last 24 hours. The coin made a sudden jump from $0.1026 to $0.111. Thus, the coin recorded its highest level on a weekly basis as well. However, it should be noted that DOGE remains well below the all-time high of $ 0.73 recorded on May 8, 2021. At its current price, DOGE falls as much as 85.45 percent below its record. Time will tell how DOGE, which is affected by the developments related to Musk, will act in the future.
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