The cryptocurrency market at 3 a.m. once again staged a shocking rally. When a tech entrepreneur posted a Shiba Inu meme on social media with the caption "To the mooooonnn!!", Dogecoin (DOGE) surged 800% in just ten minutes. Platform traffic skyrocketed, community discussions exploded, and retail investors' phones were flooded with continuous price increase alerts—this is not the first time witnessing the impact of individual influence on the market.

The story of DOGE is actually quite interesting. This "joke coin" born in 2013 was originally circulated only within niche communities, but gradually moved into the spotlight through a series of actions by this tech enthusiast: from a tweet in 2021 that triggered an 800% surge, to changing social platform logos to Shiba Inu images and claiming support for DOGE payments. Every move precisely triggered market reactions. Data shows that related tweets can drive an average instantaneous increase of 23.6%. An emoji or a pun is enough to completely trigger retail investors' FOMO emotions.

But the problem is, behind this seemingly nationwide carnival, there is another set of game rules. Institutions quietly accumulated positions 18 hours in advance, with 120,000 robot orders per second at the peak, followed by phased dumping to cash out. Ultimately, 600,000 retail investors were liquidated, and $6 billion in wealth vanished within hours. Ironically, when this influential figure changed tone and called DOGE a "scam," the coin's price plummeted by 34%.

From a historical cumulative increase of 2,306 times to a one-night market cap halving, DOGE's trajectory reflects a deeper issue in the current market: when individual influence can override fundamentals, when a single image is enough to determine the flow of hundreds of billions in assets, is this still investing? Or is it more like a modern speculative feast— the crazier the celebration, the more embarrassing the aftermath.