Musk makes a bold move! On June 1st at midnight, he announced the launch of 'green mining' upgrade for Dogecoin, aiming to triple transaction speed and eliminate fees, targeting everyday payment scenarios! This operation feels familiar — in May 2021, when he first proposed 'speeding up and reducing costs,' the coin's price briefly surged over 20%. Currently, Dogecoin is in a horizontal range of $0.17 to $0.72, and this news could be the key catalyst to break the resistance level of $0.7.

The upgrade directly addresses two major pain points: transitioning to a low-energy consensus mechanism (similar to Chia's hard drive mining) to respond to environmental concerns, and sprinting from 40 TPS to 400 TPS, with plans to expand partnerships with merchants like JD.com. However, risks remain: the infinite inflation mechanism with an annual issuance of 5 billion coins has not changed, and the efficiency of a development team consisting of only four part-time members is questionable, coupled with the tightening regulatory risks from the U.S. SEC regarding celebrity endorsements of cryptocurrencies.

The market is in a fierce tug-of-war: bulls are betting on Tesla/SpaceX accepting payments, calling for a year-end target of $1 or even $2.5 predicted by AI models; bears emphasize the diversion of emerging meme coins, uncertainties in technology implementation, and caution against prices dropping below $0.2. In the short term, it may test the $0.6-$0.7 range over the next 1-3 months, while the long-term trend depends on the progress of the upgrade and the effectiveness of ecological expansion.

Key signals to watch include: when Musk's companies will accept DOGE payments, the frequency of code updates by the development team, and SEC regulatory policy trends. Can Dogecoin create waves again with the 'green upgrade'? Stay tuned, share your thoughts in the comments, and forward this to friends interested in the crypto world! #doge