Grayscale DOGE Spot ETF Listing Irony: What Is the "Silence" of the Crypto Dog Really About?

Question

Last Monday, the New York Stock Exchange officially approved the listing of Grayscale DOGE Spot ETF, marking the first time that Dogecoin has landed on Wall Street as a formal player. Coincidentally, on the same day, the U.S. government’s “Efficiency Department DOGE” announced its dissolution. The double layers of meme content should have triggered a market explosion—but reality gave everyone a slap in the face. As of the latest data, DOGE’s current price remains at $0.13, with a 24-hour increase of only +2.16%. This coin, which once could surge 50% on a single tweet, now can’t even be stirred by institutional-level news like a spot ETF.

The Harsh Truth: Crypto Dog Isn’t Falling, It’s Completely “Fading Out”

The underlying facts behind this phenomenon are even more alarming. The Dogecoin myth was built on three pillars:

Elon Musk’s continuous hype and trending topics
Retail investor gathering on platforms like Robinhood
Liquidity flood from global central banks

Now, all three conditions have failed. Looking solely at Musk’s influence, a single tweet no longer moves the price by 5%. And what about new retail investors? They’ve long been attracted by new forces like PEPE, TRUMP, SPX, GOAT, leaving crypto dog gradually as a “last cycle” memory.

The Core Issue Lies in Its Structural Flaws

The more fatal problem is DOGE’s economic model itself. This coin has a fixed annual issuance of 5 billion tokens, with no burning mechanism or deflationary expectations, meaning its market cap always bears a “dilution pressure.” Large institutional investors are deterred by this design—why bet on an asset without supply constraints?

Meanwhile, early whale holders have already taken profits at high levels, and in this bull market, they only sell, not buy. The story has been the same old “Dog goes to the Moon” routine for ten years, and retail investors are tired of hearing it.

Practical Roadmap at the Current Price of $0.13

For those still holding crypto dog positions, here are some clear suggestions:

Position Management: Reduce DOGE holdings to below 5%, treating it as a small speculative chip rather than a core asset.

Technical Support: Around the key support zone of $0.12–$0.14, consider small-scale adding. Once a rebound occurs, target a 15-25% increase, and then decisively reduce positions—don’t expect a doubling.

Handling Major News: If Elon Musk truly advances the X payment ecosystem or Tesla officially accepts DOGE payments, it might be better to take profits—because such expectations are often fully priced before realization, and the moment the news hits, it’s usually a top.

Fund Flow Shift: Don’t let institutional funds get trapped here. Coins with deflation mechanisms, real ecological applications, and the ability to tell new stories are the true opportunities in this cycle.

Redefining the Role of Crypto Dog in Your Portfolio

Crypto Dog has objectively shifted from a “faith coin” to an “event coin.” It may experience short-term volatility due to hot news or official announcements, but its long-term value support has been seriously weakened.

The current bull market favors coins that can tell new stories and have new ecosystems. While crypto dog deserves respect, it’s no longer worth chasing with heavy capital. Recognize its historical status, maintain a moderate “sentimental allocation,” and focus on the next-generation opportunities—that is the rational choice.