OpenAI’s release of the text-based AI tool ChatGPT sparked renewed interest in AI; since then, other similar tools have gained prominence, such as Alphabet’s (NASDAQ: GOOGL) Google Bard, a generative AI offering that has proven capable of analysing cryptocurrencies like Dogecoin (DOGE).
Bard, an AI tool consulted by Finbold, has provided predictions for the price of Dogecoin as of August 1 based on the scenario in which Tesla (NASDAQ: TSLA) CEO Elon Musk fulfils his plans and introduces payments to his rebranded X platform.
If Musk does decide to add support for DOGE payments on X, Bard has a full analysis of the elements that might cause a rise in the price of DOGE, including Musk’s prior postings on the crypto asset, which have typically preceded a rise in price.
Furthermore, X as a huge and popular platform “would give DOGE a lot of exposure to new users,” which might result in “an increase in demand for the cryptocurrency, which would also drive up the price.”
In terms of hard figures, Bard outlined a range of possible price objectives if X incorporates payments, with the most cautious forecast being $0.10, which would be a 1,000% increase from the current price.
The second estimate was a more bullish $0.025, which would represent a gain of 2,50% from the price at press time, and the highest estimate was $0.50, which would represent a gain of 5,000%.
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