Pepe (PEPE) is now trading 82% below its all-time high, leaving investors wondering whether the coin can ever regain any bullish momentum.
Armed with this context, we asked ChatGPT to analyze PEPE’s current prediction and forecast where the coin’s value could go by the end of 2023.
We also asked ChatGPT which new tokens could be breakout stars in the meme coin niche – with Meme Kombat (MK) being spotlighted as a potential front-runner.
Pepe Price Chart Showcases Ongoing Bearish Momentum
PEPE has posted four bearish daily closes in a row, pushing price closer to September’s low of $0.00000060.
This bearish momentum has stemmed from PEPE’s rejection of the 50-day Exponential Moving Average (EMA) as resistance on October 2, prompting the token to shed over 30% of its value.
Zooming out, PEPE is also trapped in a descending channel on the daily time frame, with lower highs and lower lows indicating a continued downtrend.
The consistent pressure from sellers hints that PEPE’s current bearish trajectory could be maintained for the foreseeable future.
Adding more fuel to the fire is that PEPE’s daily trading volume continues to dwindle, now sitting at just over $33 million – well below what it was earlier in 2023.
With smaller meme coins now taking the limelight, PEPE’s once-prominent position in the space could be under severe threat.
ChatGPT Predicts Further Declines for PEPE by End of 2023
When provided with context about PEPE’s current situation, ChatGPT predicted a bleak end to 2023 for the token.
With no real-world utility to speak of, PEPE looks poised for further declines – with ChatGPT predicting it could drop below its current price level if sentiment remains negative.
This would put PEPE closer to intra-year lows, giving credence to the suggestion that the token may be dead.
However, ChatGPT did note that a resurgence in social media attention could theoretically drive PEPE’s price up – although this scenario was viewed as “less likely”.
Clearly, ChatGPT is skeptical about PEPE’s ability to rebound from its current challenges, suggesting it could be a tough road ahead for investors.
Which Other Meme Coins is ChatGPT Bullish On?
While ChatGPT is bearish on PEPE’s prospects, the AI model is more optimistic about several low-cap meme coins gaining ground.
One such coin is Meme Kombat – a brand-new presale project that ChatGPT believes could be a breakout star by the end of 2023.
ChatGPT Forecasts 10x Returns for Meme Kombat as Presale Buzz Continues Growing
Meme Kombat (MK) is an innovative platform that combines the viral power of memes with Play2Earn (P2E) features and elements of GambleFi, setting it apart from other meme coins.
The platform merges staking, betting, and recurring rewards within a playful and meme-themed battle environment.
Users can stake their MK tokens and bet on AI-powered battles between famous meme characters, with the chance to earn high payouts.
Through this staking process, MK holders can earn an impressive 112% per year on their holdings – with rewards accrued automatically upon investing through the presale.
This presale has already been a hit with investors, raising almost $500,000 in just three weeks.
During the presale, early-bird investors can buy MK tokens for just $0.1667 ahead of their planned listing on the Uniswap DEX later this year.
Crypto influencer Jacob Bury has even hailed it as a “new 100x potential meme coin”, noting MK’s high yields and potential to trend within the meme coin space.
Given the growing buzz around Meme Kombat, ChatGPT is incredibly bullish on its prospects for the months ahead.
If MK can sustain the hype and deliver further utility to its community, ChatGPT believes its price could realistically surge 10x from the presale value to $1.67 by the end of the year.
Capitalizing on the popularity of meme coins and launching at an opportune time, there’s growing belief that MK has the potential to be a breakout star, much like PEPE was back in Spring.
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