Dogecoin, on the stage of cryptocurrency, has always been a highly dramatic and topical existence. Back in November 2024, the cryptocurrency market welcomed a carnival. The news of the first interest rate cut in the U.S., combined with the heavyweight news of Trump's election, instantly ignited market sentiment, ushering in a long-awaited explosive period. In this wave of excitement, Dogecoin performed exceptionally well, with its price skyrocketing from the original $0.10 to $0.48, nearly a 500% increase in just one month. Such an astonishing surge instantly attracted the attention of countless investors, becoming the market focus.
At that time, Musk's frequent interactions with Trump undoubtedly added fuel to the fire for Dogecoin. Musk occasionally mentioned Dogecoin on social media, and the potential positive implications of Trump's policies on the cryptocurrency market fueled investors' expectations for Dogecoin, with large amounts of capital pouring in like a tide, pushing the price upward. However, as a long-term researcher focused on cryptocurrency value, I maintained calm and vigilance, writing articles on November 14 and 25 to warn the public that this wave of surging prices based on celebrity effects was actually hiding a huge bubble. Sure enough, after the frenzy, Dogecoin's price began to decline, gradually falling to $0.41, and the initial warnings were validated by the market.
The birth of Dogecoin was, in fact, a prank filled with irony. In 2013, two engineers, in mockery of the speculative craze surrounding cryptocurrencies at the time, launched Dogecoin with a Shiba Inu meme as its symbol, focusing on a 'tip culture.' The founders later made it clear that from the beginning, they did not intend to endow Dogecoin with any grand development vision; it was more like a joke in the cryptocurrency world, adding a bit of lightness to a tense and serious market. Even in 2021, due to Musk's repeated endorsements, Dogecoin's market value once soared to $87 billion, shining in the cryptocurrency market. However, behind the glamorous facade lies a lack of key technological breakthroughs and a poor record in expanding practical application scenarios, fundamentally still unable to shed the label of 'air coin.' Moreover, Dogecoin currently implements an infinite issuance mechanism of adding 5 billion coins each year, which undoubtedly hangs a sword over its price, continuously exerting selling pressure. Coupled with the market's judgment on its price trends, which overly relies on celebrity effects, Dogecoin has become a highly risky speculative target, with price fluctuations resembling a roller coaster, causing investors' emotions to rise and fall.
The market carnival in November 2024, when analyzed from the perspective of industry development, resembles the last collective excitement of cryptocurrency transitioning from early-stage mere 'speculative experiments' to a transformative phase of 'technological implementation and value cultivation.' In the early days of cryptocurrency development, many projects relied on a white paper to depict a beautiful blueprint and used celebrity effects for massive publicity to attract large amounts of capital, quickly creating a series of 'wealth myths.' However, as time passed and the market gradually matured, these tactics began to lose effectiveness, and the wheel of time has turned. Currently, the blockchain industry has entered a new stage of 'value cultivation,' with numerous practical landing cases continuously emerging, showcasing the true value of blockchain technology. Projects like Beijing's 'Chang'an Chain' have achieved self-controllable full-stack technology, robustly supporting innovative applications in government services and supply chain finance, significantly improving business efficiency and reducing trust costs; after the launch of the super node of the 'Spark Chain Network' in the Yangtze River Delta, it actively promotes the deep integration of the industrial internet and digital economy, injecting new momentum into industrial upgrades. These tangible results strongly validate the enormous potential of blockchain technology in enhancing social collaboration efficiency and building a solid trust mechanism, also pointing the way for industry development.
Looking ahead to the cryptocurrency market in 2025, investors need to be particularly cautious about falling into the trap of 'fear of missing out' (FOMO). If one simply chases after Dogecoin's past significant increases without due diligence, they may again miss out on genuine value opportunities. In the current market environment, there are actually some quality projects that are in a 'value depression' stage, being undervalued by the market. These projects have quietly invested substantial resources in technological research and development over the past few years, achieving substantial breakthroughs in cutting-edge and critical areas such as distributed storage, privacy computing, and cross-chain interoperability. However, due to certain lagging market perceptions, their value has not yet been fully excavated or recognized. But as the paradigm of industry development gradually shifts, these projects, with solid technical accumulation and innovation advantages, are expected to break through first, becoming the core driving force that leads the market direction and drives industry development in the next bull market. Therefore, investors should sharpen their eyes, step away from blind pursuits of short-term fads, and focus on those projects that genuinely possess long-term value and development potential in order to achieve ideal returns in the complex and volatile cryptocurrency market.
