Recently, Musk has frequently mentioned that Dogecoin brings traffic and exposure. However, from the price, I can clearly see that the conversion of this exposure into buying power is diminishing returns. So why, in such an unfavorable situation, do I still hold Dogecoin? What is my logic and what positive outlook do I expect?
When talking about Dogecoin, one cannot avoid mentioning Musk.
In October 2022, Musk had enough of Twitter at the time and renamed it X. This name holds a lot of significance for Musk, embodying the 'disruptive financial system' he initially wanted to achieve (which later merged into today's PayPal, ultimately ending without success as Musk was kicked out of the company).
The future of Dogecoin is actually closely tied to the future of X.
Musk has mentioned multiple times that he wants to 'turn Twitter into a great platform for user-generated content,' and 'if publishers want visitors to pay, they can also be compensated.' He has also mentioned WeChat multiple times, 'we need to keep up with the functions of WeChat.'
So Twitter must inevitably add better payment features. What kind of connection can there be between payments and Doge?
First of all, I do not believe that Doge will become a major payment method. For more widespread use, it should mainly integrate fiat payments. At the same time, most of us have already filled out our bank information when purchasing memberships, which lays the foundation for further payments. However, for other features, such as 'tips', 'wealth management', and 'content subscriptions', whether Dogecoin can be chosen as a payment method, I believe this part is possible. The pursuit of timeliness in these three functional areas is relatively low and is more likely to be realized on the blockchain.
Therefore, the next major positive shockwave cannot rely on mere words; it depends on implementation. Dogecoin ETF?
Perhaps it won't happen in the near future. As of December 14, 2024, no company has officially submitted an application for a spot ETF for Dogecoin (Dogecoin, DOGE). ETFs like $XRP and $SOL may pass first. The prospects for a Dogecoin ETF are 'brighter than ever', and it is suggested that December 31 is the best time to apply for a Dogecoin ETF. ETF Store President Nate Geraci points out that against the backdrop of the Trump administration's support for crypto-friendly policies, the approval paths for more spot crypto ETFs may become clearer.
Department of Government Efficiency, abbreviated as D.O.G.E, brings related traffic.
This department will be co-led by Tesla and SpaceX CEO Elon Musk and entrepreneur Vivek Ramaswamy. As the newly established federal government department requires Congressional approval, D.O.G.E will operate as an advisory committee to the president, providing advice rather than direct executive power. In conclusion, after saying so much, Doge indeed has a gambling element, betting that Musk can launch Doge-related products during a bull market cycle, and betting that larger buying power will come in.
That's all for today. During the bull market phase, many people hope for a free exchange. If you really can't navigate the crypto world on your own, don't force yourself; come find me to learn, understand the latest information, strategize, embrace the bull market, and improve your winning rate, saying goodbye to being trapped at a high position.
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