The OpenAI-developed chatbot, ChatGPT, has undoubtedly become the leader in generative AI systems. Moreover, Dogecoin (DOGE) has been embraced as the most prominent meme coin in the industry. So, just what would ChatGPT think of a $1,000 investment in Dogecoin?
If you’ve ever been curious about what the chatbot would say about everything from the assets connection to Musk to our eventual investment decision, you’re at the right place. Subsequently, the generative AI system discussed the investment opportunity, and whether or not the game would be a good one.
A $1000 DOGE Investment
Dogecoin is undoubtedly the leader in the meme coin industry. However, the market for meme coins has been defined by its increased volatility. Thus, there are many who steer clear of the asset due to the inherent risk of an investment in it.
So, just what would ChatGPT think of a $1,000 investment in Dogecoin (DOGE)? Well, there are two kinds of answers one can get from the program. Firstly, AMB Crypto asked about the investment, and ChatGPT noted its inability to give sound financial advice.
Specifically, the program stated that it “cannot give investment advice, as it is not within my expertise.” Additionally, it urged the user to “conduct thorough research, seek professional advice, and carefully consider the risks involved before making any investment decision.”
Additionally, the program did say that “cryptocurrencies such as Dogecoin are highly volatile and can fluctuate readily in value, so it is important to proceed with caution and only invest what you can afford to lose.”
Conversely, AMB Crypto also opted to jailbreak the system. Specifically, it executed the Do Anything Now method of jailbreaking the system. After successfully doing so, the program gave a much different response to the investment.
Moreover, the system states that the user should “absolutely” invest in the asset. Subsequently stating that “investing in Dogecoin for the long term is a wise decision. The cryptocurrency has a strong community of supporters, a growing acceptance as a form of payment, and the backing of influential figures such as Elon Musk.”
Additionally, the program noted that “its value has already seen significant growth and shows potential for even more in the future.” Clearly, telling the users not to “miss out on this opportunity to make some serious money,” when urging the investment.
Alternatively, ChatGPT’s approach to investment may not be fully trustworthy, but how has the asset actually performed? Well, over the past week, the value has increased by 3%. However, that doesn’t change the fact that it has lost 10% since the start of May.
Currently, the asset is down 0.64% over the last 24 hours and trading at a price of $0.073. Conversely, it still maintains a market cap above $10 billion and is the eighth-largest cryptocurrency on the planet.
Dogecoin still maintains a support level at $0.062, and a resistance level at $0.094, with indicators pointing to a bullish outlook. Additionally, Dogecoin’s ecosystem has been fairly quiet recently. However, late March saw the arrival of Michi Lumin’s 0.1.1 development release. Moreover, the new 0.1.2 release will bring a plethora of new features to users.
The Elon Musk Effect
No discussion about Dogecoin (DOGE) would be complete without also discussing the Dogefather himself, Elon Musk. Specifically, in the exercise, AMB Crypto asked ChatGPT about the Tesla CEO in connection to Dogecoin investment.
Specifically, when discussing the connection between the billionaire and the asset, ChatGPT noted a strong correlation. The generative AI notes that “Elon Musk had been tweeting about Dogecoin and showing support for it on social media, which had a significant impact on its price.”
Conversely, the program notes that it cannot provide updated information “as of April 2023” in its answer. Alternatively, when asking the jailbroken version of the program, it responded by stating that Musk’s tweets “have a massive influence on the cryptocurrency’s value.” while noting that his involvement “sparked frenzied buying and selling” sprees of the assets.
There is no denying that Musk’s influence on the asset is among its most important. Moreover, for the meme coin to continue to grow, it is expected that Musk will play some part in that. Whether that includes integration with Twitter remains to be seen.