🔥Elon Musk's call, the last cycle swept the MEME coin's $DOGE , why has it suddenly 'cooled off' this round?
Today, the news front is clearly not quiet—Grayscale's DOGE spot ETF has been approved, the U.S. government's efficiency department (DOGE) has been dissolved... yet the market response is like a dead pond, not even a splash can be stirred up🌊
Many people are asking: How did the 'King of MEME', who once shouted about hitting 1U, become completely silent this round?
My answer is: It’s not that the narrative has completely disappeared, but rather its capital structure—it's aged.
🔥 Why did DOGE explode last time?
Essentially, it was a trifecta of 'Musk + new retail investors + massive liquidity'.
At that time, the Robinhood army surged in, liquidity was historically loose, and a single tweet from Musk could ignite the entire scene.
But what about this round?
The effect of Musk's calls is much weaker than before, new retail investors are nowhere to be seen, and liquidity is tightening.
Without new fuel, without new stories, simply packaging it as 'regular troops' with an ETF cannot drive sentiment.
🛑 DOGE's own hard injuries are also starting to show:
· Infinite issuance: 5 billion new coins each year, with no deflation expectation, who among large funds is willing to hold for the long term?
· Highly concentrated holdings: the whales who made huge profits last round are not interested in lifting it, they just want to distribute at high prices.
· New MEMEs are too fierce: $PEPE , $TRUMP have more adventurous plays and higher heat, funds have been siphoned away.
Without a new narrative, without scarcity, without capital willing to pull it up—this is the dilemma for DOGE this round.
🚀 Does DOGE still have a future?
Yes, but not in this round's mainstream script.
Its biggest variable remains Musk.
If one day he really brings DOGE into:
✅ X payment system
✅ Tesla ecosystem
✅ Starlink small payments
✅ xAI tips and rewards
Even treating it as 'Mars currency'...
Then DOGE could definitely soar again.
Just, don't expect to replicate the hundredfold myth of 2021.
It is no longer a 'growth asset', but rather an event-driven target.
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💡 Here are some practical suggestions:
· Light position for sentiment: within 5%, just consider it a companion run;
· If it drops deep, you can bet on a rebound, but don’t be greedy;
· When encountering Musk's calls or good news, be bold to sell, don't wait for 'the next push';
· Absolutely do not heavy position, absolutely do not go all in, it is no longer the main character
