Pepe (PEPE) is now trading 82% below its all-time high, leaving investors wondering if the coin can regain any upward momentum at all.
Armed with this context, we asked ChatGPT to analyze current PEPE forecasts and predict where the value of the coin could go by the end of 2023.
We also asked ChatGPT which new tokens could be superstars in the meme coin space – highlighting Meme Kombat (MK) as the frontrunner.
Pepe price chart shows continued bearish momentum
PEPE recorded four bearish daily closes in a row, pushing the price closer to the September low of $0.00000060.
This bearish momentum arose from PEPE’s rejection of the 50-day Exponential Moving Average (EMA) as resistance on October 2, which prompted the token to shed more than 30% of its value.
Zooming out, PEPE is also trapped in a bearish channel on the daily time frame, where lower highs and lower lows indicate a continuation of the downtrend.
Continued pressure from sellers suggests that PEPE’s current bearish trajectory can be maintained for the foreseeable future.
To make matters worse, PEPE’s daily trading volume continues to dwindle, It now sits at just over $33 million – Much lower than earlier in 2023.
With smaller coins now coming into the spotlight, PEPE’s prominent position in the space may be under severe threat.
ChatGPT expects further declines in PEPE by the end of 2023
Providing context on the current state of PEPE, ChatGPT predicts a bleak end for the token until 2023.
With no real-world interest to speak of, PEPE appears poised for further declines – with ChatGPT predicting that it may drop below its current price level if sentiment remains negative.
This would put PEPE closer to its lowest levels for the year, giving credence to the suggestion that the token may be dead.
However, ChatGPT noted that a resurgence of interest via social media could theoretically lead to a rise in the price of PEPE – although this scenario was seen as “less likely.”
ChatGPT clearly questions PEPE’s ability to recover from the current challenges, suggesting that it could be a tough road ahead for investors.
What other coins is ChatGPT bullish?
While ChatGPT is negative on PEPE’s prospects, the AI model is more optimistic about the acquisition of several low-land value meme coins.
One such coin is Meme Kombat – a brand new pre-sale project that ChatGPT believes could be a superstar by the end of 2023.
ChatGPT forecasts 10x returns for Meme Kombat as pre-sale hype continues to build
Meme Kombat (MK) It is an innovative platform that combines the viral power of memes with Play2Earn (P2E) features and GambleFi elements, setting it apart from other meme currencies.
The platform integrates staking, betting and recurring rewards into a fun and meme-themed battle environment.
Users can share their MK tokens and bet on AI-powered battles between popular 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 bonuses automatically accumulating when investing through a pre-sale.
This pre-sale was a huge hit with investors, raising nearly $500,000 in just three weeks.
During the pre-sale period, early investors can purchase MK tokens for just $0.1667 ahead of their planned listing on the Uniswap DEX later this year.
It was praised by crypto influencer Jacob Burry “New 100x Potential Meme Coin”noting the high MK returns and trend potential within the meme space.
Given the growing buzz around Meme Kombat, ChatGPT is incredibly optimistic about its prospects for the coming months.
If MK can keep up the hype and provide more benefit to its community, ChatGPT believes its price could realistically rise 10x from its pre-sale value to $1.67 by the end of the year.
Capitalizing on the popularity of meme coins and launching them at the right time, there is a growing belief that MK has the potential to be a superstar, much like PEPE did in the spring.
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