#美SEC促进加密创新监管体系 DOGE's Silent Period: When Sentiment Meets the Awkwardness of Reality

Recently, DOGE's performance has left people puzzled.

Two things happened on Monday: the NYSE approved Grayscale's DOGE spot ETF listing—this is the first time a MEME coin has gotten a ticket to Wall Street; at the same time, that hype-chasing US efficiency department announced its dissolution. With both topics combined, it should have caused a stir, but the price didn't move at all, like a dead pond.

Remember before? Musk could send out a random tweet and DOGE would surge 50%. Now even with an ETF launch, the market shows no reaction. What's the signal behind this contrast?

Looking back at the last bull market, DOGE took off thanks to three things: Musk's social media influence, retail FOMO, and overflowing global liquidity. What about now? Musk's tweets have long lost their effect, new capital prefers chasing stories of new coins, and the old narrative just doesn't work anymore.

What's even worse is the token's fundamental flaw—a fixed annual issuance increase of 5 billion, with no burn or deflationary mechanism. Big money sees this design and steers clear. On-chain data shows whales are only selling, with very few new buy-ins. It's been ten years, the same old playbook, who wants to keep paying for sentiment?

The current strategy is simple: if you still hold DOGE, keep your position under 5% and treat it like a lottery ticket. If the price drops to the historical support range of 0.12-0.14, you can consider picking up some, but when it rebounds 15-25%, it's time to exit. If by any chance there’s major news like X platform payment integration or Tesla accepting DOGE payments, be cautious—in most cases, good news being realized is actually a top signal.

Don't exhaust your main funds on a single asset. There are projects on the market with deflationary designs, solid ecosystem development, and evolving narratives that deserve more attention. Sentiment is fine, but don't let it hijack your wallet.