The performance of DOGE this time is really a bit hard to understand.

On Monday, Grayscale's DOGE spot ETF was approved for listing on the New York Stock Exchange, marking the first time a MEME coin has received a ticket to Wall Street. Coincidentally, on the same day, the US government's efficiency department, which was riding the wave, announced its dissolution. With these two events combined, one would expect the topic's popularity to explode, right? Yet the price remained utterly unchanged, as if the market had collectively lost its voice.
Do you remember before? When Musk casually tweeted, DOGE could soar by 50% instantly. How crazy it was back then. Now that ETFs have been introduced, the price is like a dud, and this contrast makes one ponder—has it really cooled off, or is it brewing something?
Looking back at the last bull market, what did DOGE rely on to create a myth of a hundred times? Musk's endorsement, retail frenzy, and global liquidity flooding. All three engines were running at full capacity. But what about now? Musk's tweets are no longer effective, new retail investors are hardly interested, and all the traffic has been taken away by those newly emerged coins.
What's worse is the inherent flaws of DOGE itself. It has a fixed annual issuance of 5 billion coins, no burn mechanism, and no deflationary expectations, which makes it risky for large funds to invest heavily. Long-term holders will only sell at a high price, and it's rare to see anyone actively buying. The story is still the same as it was ten years ago; who is willing to keep paying for sentiment?
To put it bluntly, it's basically unrealistic for DOGE to return to its peak. At most, there will be occasional movements from Musk that bring short-term fluctuations.
If you still hold DOGE, it is recommended to keep your position within 5% and treat it like a lottery. You can consider buying a little when the price drops to the support range of 0.12 to 0.14, and quickly sell if it rebounds by 15% to 25%. If there really is a major positive news like X payment integration or Tesla accepting DOGE payments, remember to sell decisively—often, the peak is reached when good news is fully priced in.
Don't get stuck with the main funds on DOGE. Take a look at those projects that have deflationary mechanisms, ecological construction, and new narratives; the opportunities might be greater.