The $1 dream of Dogecoin, is it a fairy tale forgotten by Musk, or has it always just been a large meme?

Let me give you a wake-up call: when Bitcoin just touched $110,000 and Ethereum steadily stood above $5,000, the former 'Dog King' was rolling on the floor at $0.14 like a forgotten old toy. There’s a full five times abyss from the peak of $0.73 in 2021.

This is not a fluctuation; this is stark abandonment. Why can't it get up? The truth is harsher than you think: first, Wall Street is voting with real money: they are not optimistic. The Grayscale Dogecoin ETF has launched, but the net inflow is almost zero.

The old money has a clear scale in their hearts— in their eyes, DOGE is still a 'meme' and not an asset. Second, Musk's hype is losing its effect. In the past, a single 'to the moon' from him could make Dogecoin rise 20% in a minute, but now? It rises and then vomits, like getting off a roller coaster and wanting to throw up.

The market has learned to treat his tweets as background noise; unless DOGE is really integrated into X payments, no one takes it seriously anymore. Third, the community is almost on the brink of civil war. In prediction threads, one side is drawing targets shouting for $2, while the other side is directly editing images of graveyard grass. This kind of tearing itself shows: faith is shattered, only gamblers are left rolling the dice.

Does it still have one last chance to go crazy? Yes, but it must have the right timing, location, and people: Bitcoin has to surge completely, flooding every stone with capital; Musk needs to pull out a killer move and give Dogecoin a solid story to 'survive'; retail investors worldwide need to collectively lose their minds, plunging into FOMO mania like in 2021.

Lacking any one of these, Dogecoin is likely just a sidekick when the market rises and the scapegoat when the market falls. So, who can send it back to the sky in the next round?

Is it Musk's one statement, 'I mean it',

or will we collectively be pure fools again? @加密黄哥