XRP, SHIB, DOGE in a Neck-and-Neck Race to $1

• ChatGPT produces an interesting analysis of XRP, Doge, and SHIB, explaining the factors that could propel them to $1. 

• Based on the current price, XRP is more likely to hit $1, followed by Doge according to analysts. 

Three renowned altcoins – XRP, SHIB, and Dogecoin have appealed to a large section of crypto investors as they look to break multiple resistance levels to trade above their all-time highs. Recently, some crypto forums have been discussing the possibility of any of these assets hitting $1.

While this appears as an interesting discussion, it is obviously unfair to the two meme coins as XRP is closer to that price point. It is important to note that XRP is currently trading at $0.522951, and had crossed $1 in the past to trade at $3.4 in 2018. Dogecoin is also trading at $0.060758. This asset nearly touched the $1 price point but failed to break into the $0.731578 resistance point.

Shiba Inu, on the other hand, is also trading at $0.000007. The highest it has ever reached on the price curve is $0.000086. 

To correctly identify the asset that could first hit $1 using valuable insight into their current market dynamics and other price-determining factors, an AI-powered language model developed by OpenAI, ChatGPT was involved in this discussion. The technology was fed with some considerations to critically assess the possibility of any of them crossing $1. According to the results, XRP’s potential move to hit $1 depends on the Ripple Labs vs. SEC lawsuit. 

More Analysis on XRP, Shib, and Doge

The growth of XRP was suppressed after Ripple Labs executives were accused of offering unregistered securities. However, the blockchain company claimed a partial victory after the court ruled that XRP is not a security. This pushed the price to $0.93 before taking a nosedive. Later, the SEC filed a motion for interlocutory appeal. Ripple’s executives are currently scheduled to appear on trial next year. 

A technical analyst and educator identified as Duo Nine has disclosed that XRP currently has three major resistance levels namely; $0.87, $2, and $3.3. 

Since 2018, XRP has formed a huge pennant that will likely break in early to mid-2024. The price will have to move to $1.3 to escape from the pennant and attempt a new ATH. The most important resistance levels are $0.87, $2, and $3.3 (ATH). The current bias is bullish and the price is found in an uptrend along the lower border of this large triangle. As long as XRP stays above $0.45 (current support), the bulls have the upper hand.

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Analysis of the meme coins put Dogecoin ahead of Shiba Inu as it gets closer to becoming an established crypto with massive popularity worldwide. This asset was brought to fame by the series of tweets made by billionaire Elon Musk, sending the price skyrocketing.

Shiba Inu is also doing well with its initiatives to transition to a more technically efficient asset. It has currently launched its Shibarium on the mainnet and is working on several other initiatives. However, Dogecoin’s current value of $0.06 puts it in a better position to hit $1 than Shiba Inu’s $0.000007.

According to ChatGPT, the main factors considered for this analysis include trading activities, adoption, competition, market sentiment, and technological developments. 

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