"When Elon Musk tweets, Dogecoin can soar 50%; but when the market cools down, it can also fall back to square one — this is not investing, but an extreme tug-of-war between 'faith and bubble'!"

[Current status of Dogecoin: Is Musk's 'toy' a real opportunity?]

Dogecoin (DOGE) went from a joke coin in 2013, to being hailed by Musk as 'the people's cryptocurrency', and now repeatedly bouncing in bull and bear markets, its story is more magical than any altcoin.

The previous myth: Musk said 'Dogecoin is the people's currency', DOGE surged 100 times, with its market cap once entering the top five, even surpassing established public chains.

The reality in 2025: DOGE continues to live off Musk's tweets, every time he mentions 'the moon', 'dog', etc., the price spikes, then... slowly falls back.

Here comes the question:

Is it really useful? Aside from a few merchants accepting DOGE payments (like the NBA's Dallas Mavericks), it has almost no practical ecosystem.

Can it rise back? It completely depends on Musk's mood, and whether the market is still willing to speculate on this 'meme'. [Personal bold opinion: Dogecoin can still be played, but don't take it too seriously]

"DOGE is the 'lottery' of the crypto world, not a 'deposit' — you can buy some for luck, but don't stake your entire fortune!"

Why are there still people buying?

Zhuque believes one factor is the strong community culture: the 'dog' image and MEME attributes of DOGE have created a loyal fanbase, just like GME stocks, where retail investors love to 'fight against institutions'.

The second factor is the low price psychology: $0.1 looks 'cheap' compared to Bitcoin, attracting newcomers (even though the market cap is already large).

The last factor is the Musk effect: as long as he continues to promote it, DOGE will always have room for speculation.

Where is the risk?

No technical upgrades: compared to SOL, ETH and other truly developing public chains, the DOGE code hasn't had major updates in years.

Purely driven by emotions: it rises quickly, falls even faster, and many are trapped at high points.

Zhuque thinks that fans holding DOGE should

1. Short-term players: follow Musk's tweets for swing trades

Every time he posts a DOGE-related tweet, the market is very likely to surge temporarily, allowing for high selling and low buying opportunities.

Case study: In December 2023, Musk posted a 'Doge' emoji, and DOGE instantly rose 20%, but a week later fell back to square one.

2 Long-term believers: set stop losses, don't get trapped deeply

If you really believe DOGE can 'go to the moon', at least don't chase the high during FOMO (fear of missing out).

Recommendation: Don't exceed a 5% position, just treat it like buying a lottery ticket.

3. Observers: waiting for the next 'Musk moment'

DOGE's outburst often requires a new narrative, such as Musk announcing that the X platform (formerly Twitter) supports DOGE payments.

If there are no new stories, it may continue to decline.

"The frenzy of DOGE is a feast for retail investors, and a harvesting game for whales. When Musk stops tweeting, will you still dare to hold? Don't want to miss the opportunity to get rich? Follow me, and I'll help you understand the real game in the crypto world!"
#doge