DOGE is the granddaddy of all meme coins. It started with a Shiba Inu—almost a decade earlier than the later frogs and penguins.
It already existed in 2013. It was originally just a joke—two programmers made a coin using the Shiba Inu meme image pack that was all the rage back then, just to mess around. As it turned out, the joke became the longest-lasting meme in crypto. Supported by the community and Musk occasionally shouting a couple times every so often, it stubbornly lived on and grew into a mainstream coin among the top by market cap.
Now its situation is worth pondering. This past year, it went through every step of “normalization.” Regulators classified it as a commodity, not a security. In the U.S., several spot DOGE ETFs were also approved—institutions can buy whenever they want. A joke coin ended up seated at the same compliance table as Bitcoin.
So what’s next? Those ETFs combined only pulled in about $20 million—roughly speaking, nobody really cared. The coin is at $0.072, down from a high of $0.73, a 90% drop.
This is the same idea as what was written earlier about LTC and PEPE—maybe even more extreme. The ETFs got approved, and its identity was “cleaned up,” but at its core it’s still a meme: no product, no cash flow. Its price movements depend on whether the community is still excited and whether Musk is still bringing it up. Put a joke coin in a suit, and it’s still a joke coin. People wearing suits wouldn’t suddenly want to buy it because of that.
What’s more, it keeps issuing more. Every year, another more than five billion new coins are minted, with no cap. An old joke needs fresh newcomers to keep it moving—that’s its biggest weakness.
DOGE proves one thing: in crypto, the “serious” label doesn’t necessarily mean it’s worth more than “fun.” #DOGE $DOGE
It already existed in 2013. It was originally just a joke—two programmers made a coin using the Shiba Inu meme image pack that was all the rage back then, just to mess around. As it turned out, the joke became the longest-lasting meme in crypto. Supported by the community and Musk occasionally shouting a couple times every so often, it stubbornly lived on and grew into a mainstream coin among the top by market cap.
Now its situation is worth pondering. This past year, it went through every step of “normalization.” Regulators classified it as a commodity, not a security. In the U.S., several spot DOGE ETFs were also approved—institutions can buy whenever they want. A joke coin ended up seated at the same compliance table as Bitcoin.
So what’s next? Those ETFs combined only pulled in about $20 million—roughly speaking, nobody really cared. The coin is at $0.072, down from a high of $0.73, a 90% drop.
This is the same idea as what was written earlier about LTC and PEPE—maybe even more extreme. The ETFs got approved, and its identity was “cleaned up,” but at its core it’s still a meme: no product, no cash flow. Its price movements depend on whether the community is still excited and whether Musk is still bringing it up. Put a joke coin in a suit, and it’s still a joke coin. People wearing suits wouldn’t suddenly want to buy it because of that.
What’s more, it keeps issuing more. Every year, another more than five billion new coins are minted, with no cap. An old joke needs fresh newcomers to keep it moving—that’s its biggest weakness.
DOGE proves one thing: in crypto, the “serious” label doesn’t necessarily mean it’s worth more than “fun.” #DOGE $DOGE