Musk makes a bold move! In the early hours of June 1, he announced the launch of 'green mining' upgrade for Dogecoin, aiming to triple transaction speeds and eliminate fees, targeting everyday payment scenarios! This operation feels familiar—back in May 2021, when he first proposed 'speeding up and reducing costs,' the coin price briefly surged over 20%. Currently, Dogecoin is in the range of $0.17 to $0.72, and this news may become a key catalyst for breaking through the $0.7 resistance level.

The upgrade directly addresses two major pain points: shifting to a low-energy consensus mechanism (similar to Chia's hard drive mining) to respond to environmental concerns, and racing to boost transaction speeds from 40 TPS to 400 TPS, with plans to expand partnerships with merchants like JD.com. However, hidden risks remain: the unlimited inflation mechanism with an annual issuance of 5 billion coins has not changed, and the efficiency of a development team consisting of only four part-time members is questionable, compounded by the tightening regulatory risks from the SEC regarding celebrity endorsements.

The market is engaged in intense long-short battles: bulls bet on Tesla/SpaceX integrating payments, calling for a year-end target of $1 or even a predicted $2.5 based on AI models; bears emphasize the diversion of emerging Meme coins, uncertainties in technological implementation, and warn of prices breaking below $0.2. In the short term, the price may test the $0.6-$0.7 range over the next 1-3 months, while the long-term trend depends on the progress of the upgrade and the effectiveness of ecosystem expansion.

Key signals to watch include: when Musk's companies will accept DOGE payments, the frequency of code updates from the development team, and the direction of SEC regulatory policies. Can Dogecoin ride the wave of 'green upgrade' to stir things up again? Stay tuned, share your thoughts in the comments, and forward this to friends interested in the crypto space! #doge