You might have felt the recent market: under 'risk-taking mode', why haven't we seen Dogecoin (🐶) surge? 🤔

This is quite strange because in the past, whenever the market's risk appetite increased, volatile coins like DOGE were the first to move. However, this time, it has been neglected...

🔍 The market is showing 'structural divergence': who attracts funds and who gets left behind?

In simple terms: money is choosing 'mainstream coins' rather than 'meme coins'.

Taking Bitcoin (BTC) as an example, although it fell by about 1% this quarter, investors are not worried at all.

According to on-chain data, BTC's realized profit reached $1.3 billion, while losses were only $33 million! 📊 This means that most sellers are making money, and the market has not entered a 'panic selling' mode; instead, it is steadily taking profits.

✅ This indicates: BTC is still strong, and market corrections are just normal rhythms.

⚖️ ETH is under some pressure, but still holding up.

Looking at Ethereum (ETH), the situation is slightly tighter than BTC - the profit is $35.2 million, but losses amount to $18.4 million, accounting for about half of the profits. Although not as stable as BTC, it is still acceptable; at least it hasn't collapsed.

🐶 DOGE is being marginalized: not only is it not rising, but it is also suffering the most losses.

But the worst hit is Dogecoin.

In this wave of the market, DOGE's losses have reached $132 million, while the profit is only a meager $5 million 💀. Clearly, it is an 'old-school meme coin with high beta', but once the market started, it was the first to lag behind. This indicates:

💥 Speculative funds are exiting DOGE and flowing into mainstream coins.

📉 The entire memecoin sector is also struggling.

Not only DOGE, the entire memecoin market is also shrinking. In the past 30 days, the total market value of meme coins has dropped by $6.5 billion, a decline of 11.5%. In comparison, Bitcoin has risen by 2.5%, with a market value of $2.11 trillion, attracting more capital.

This creates a very clear comparison:

✅ BTC, ETH: Considered 'mainstream assets with controllable risk', money flows in; ❌ DOGE and other meme coins: Starting to lose favor, the speculation craze is retreating.

🔁 Reflecting on that 'meme era', the contrast is now more apparent.

Do you remember the super cycle of meme coins in mid-2024? From March to November, the entire memecoin sector skyrocketed from $15 billion to $90 billion, with DOGE rising 210%, valued at nearly $70 billion. It was the 'star' of the crypto world at that time.

At that time, the ratio of DOGE to BTC even increased by 107%, Dogecoin was once a paradise for speculators.

But what about now? This ratio has been declining since the end of May, dropping over 30%. What does this indicate? Funds no longer enjoy playing with memes but are more willing to return to 'mainstream value'.

✅ Conclusion: This wave is not a bubble; it is capital 'seriously selecting people'.

It's not that the market has cooled down, but that money has become smarter. The performance of mainstream coins indicates that there is still hope for the market; it's just that liquidity is being locked up by 'top assets' like BTC and ETH.

High-volatility coins like Dogecoin used to be the 'vanguard during market surges', but now they are starting to fall behind. This means that meme coins are no longer the 'universal entry point for quick arbitrage' but must face more competition and neglect.

🎯 To summarize:

  • Funds in BTC and ETH remain stable, and the bullish logic is still in place.

  • DOGE: Being marginalized, hot money withdraws, suffering severe losses.

  • Meme coins: Cooling down, funds are severely diverted, and it's hard to return to the spotlight in the short term.

Thinking of quickly doubling your investment with memecoins in the short term? That may not be realistic right now. It might be better to look at mainstream coins, manage some positions, and perhaps be more stable 📈.

✍️ DYOR, manage risk well, and may everyone set sail in the crypto world! 🌊

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