Musk Supports Dogecoin Live: "Let DOGE Replace the Dollar," Can It Break Dollar Hegemony in the Future? 🔥

During a Trump campaign live stream on May 6, Musk suddenly raised his phone and shouted, "Let DOGE replace the dollar for ultimate freedom!" He showcased the Dogecoin wallet interface to the screen, instantly exploding on the internet, with video views surpassing 200 million. Dogecoin, once a joke, has now evolved into a global payment tool, even usable in Dubai and Walmart.

In 2025, after the Layer1 update, Dogecoin's transaction speed surged to 3,200 transactions per second, with fees as low as $0.0003, comparable to traditional payment system Visa. Wall Street has also begun to pay attention, predicting that DOGE prices may exceed $1.30 in 2026, with a market cap of $200 billion.

However, there are continuous doubts: Can Dogecoin truly challenge the dollar hegemony? Musk stated that transferring DOGE is as easy as sending a text message, and the fees for cross-border remittances are much lower than Western Union, but it lacks the backing of national sovereignty, which is also its fatal flaw.

Is the future of Dogecoin a revolutionary breakthrough, or just a castle in the air?