$DOGE Is Dogecoin really viable? Is it completely hopeless without Musk? We need to be objective about this.
Indeed, Musk is the 'number one spokesperson' for DOGE, and a single tweet from him can cause DOGE to surge. Without him, DOGE might not be as popular.
However, DOGE does not rely entirely on him. It has its own advantages: an active community that many young people like; low transaction fees, making it suitable for small tips; institutions like Grayscale are still pushing for ETFs, which could bring in more funds if approved.
But the problems with DOGE are also quite apparent: unlimited issuance every year puts long-term pressure on the price; outdated technology, with almost no ecosystem; significant price volatility, easily influenced by news, often trapping retail investors.
So can DOGE rise to $1 or even $10?
In the short term, if Musk continues to promote it or if Tesla actually uses it for payments, reaching $1 is possible. However, getting to $10 is very difficult, and surpassing Bitcoin's market cap is unrealistic.
For retail investors, what to do is not to take it too seriously: don’t bet too heavily, just participate with spare cash; consider selling in batches during big spikes, don’t be greedy;
Dogecoin has been something I have always been optimistic about. I started positioning with fans around 0.18, and the trend has been relatively stable. Even if a bull market comes, there won't be explosive growth; it won't rise too much, peaking around 1u, and in the short term, the focus is on 0.23.
Follow Brother Fa to flip the position and collect profits!
