Meme Coin Season: According to ChatGPT, This Could Be the Next Big Winner
Meme coin season is in full swing, with major names like Dogecoin (DOGE) and Shiba Inu (SHIB) having exploded in value in the last few weeks.
Last at $0.1661, Dogecoin is up 100% in the last 30 days.
Its market cap was last around $23.8 billion.
Meanwhile, last at $0.000032, SHIB is up 230% in 30 days, with a market cap of close to $19 billion.
Newer meme coins like Solana tokens Bonk (BONK) and dogwifhat (WIF), plus Pepe (PEPE) and Floki (FLOKI) have also seen a huge surge in the last few weeks, surging between 100-800% as per CoinMarketCap.
These four coins now have market caps in $2-4 billion range.
Investors are drawn to meme coins because of their volatility and potential to deliver fast exponential gains.
But ChatGPT is warning that coins like those mentioned above have limitations.
In particular, ChatGPT points out their bloated market caps and lack of real utility.
“Such bloated valuations make it increasingly challenging for these meme coins to sustain significant upside potential”, the AI chatbot explained.
“The law of diminishing returns suggests that as market caps grow larger, the potential for dramatic price appreciation diminishes”.
Meanwhile, “without robust utility or a clear value proposition, the potential for sustained growth is inherently limited”.
ChatGPT then goes on to explain the advantages of investing in smaller coins with strong use cases.
The chatbot mentions that such coins have a better growth potential, long-term viability and diversification benefits.
As meme coin season matures, the team at Cryptonews.com are hunting for high-potential new meme coins.
Two coins in particular, Scotty ($SCOTTY) and Spong ($SPONGE), have caught their eyes.
And after conducting some of its own analysis ChatGPT appears to
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