If this round of bull market really comes, the performance of Dogecoin and Pepe may carry the narrative continuity of their respective sectors.

For Dogecoin, 1 dollar is no longer just a simple price figure, but a psychological anchor point that has accumulated in the market over many years. In the last bull market, the "1 dollar target" became a consensus narrative. If in this round of frenzy it cannot even reach its previous high, and is still far from 1 dollar, the consensus that has been built up may loosen — after all, the story of "hitting 1 dollar" has been told for so long, if it cannot be realized, it will lack support to build new expectations in the next bull market (such as 10 dollars). More crucially, if the Dogecoin ETF launches in early October, institutional entry should be an opportunity to upgrade the narrative, but if it cannot even reach 1 dollar this time, will institutions want to "接盘" for an asset that has lost growth imagination? Conversely, if it can break through 1 dollar, a new price benchmark can be established, and the story of the next round will naturally have a foundation for continuity.

Looking at Pepe, as the new representative of meme coins in this bull market, its performance is to some extent related to whether the entire meme sector can break the label of "ephemeral." In the last bull market, Shiba Inu reached a peak market value. If Pepe can surpass this high point, it would essentially prove to the market: meme coins do not have just one lifecycle, but can give birth to new leaders in different cycles, forming a logic of "iterative relay." Once this logic is established, the next bull market may have new meme coins taking over the baton, allowing the narrative of the entire sector to continue. On the contrary, if Pepe cannot even reach the previous high of Shiba Inu, the market may gradually lose confidence in the meme sector, believing it lacks long-term growth potential, and this round of bull market may become the endpoint of the story for this track — but from the perspective of market cyclicality, this possibility seems unlikely.

Of course, the premise of all this is that there must be a real bull market as support. #doge⚡