One tweet stirred up a market value of tens of millions. What is DOGE that Musk has repeatedly called?

Original author: TechFlow

BTC is on the verge of a breakthrough, and the ones who may be the most uncomfortable are the secondary players who have been waiting for the copycat market. “Follow the decline but not the rise” is the true portrayal of the secondary market in recent days.

However, although the exchange market is very difficult, the on-chain market is always rich, and various themes and angles have not stopped exerting efforts.

The craze for Cult coins has not completely dissipated, and the Musk concept that has swept the ETH mainnet in the past period of time is stirring again. After a period of accumulation, some concept sectors have begun to pull up the market again.

The concept we are going to discuss today is DOGE, which Musk has mentioned repeatedly on Twitter recently. Is this another Dog concept coin? Lets learn about this concept and what are the ways to participate in it through this article.

This “DOGE” is not that “$DOGE”

At first glance, DOGE seems to be a re-mention of Musks beloved Dogecoin $DOGE, with the only difference being a few more separators. But in fact, apart from the same spelling letters, there is no conceptual (or angular) connection between DOGE itself and Dogecoin.

DOGE stands for Department Of Government Efficiency, which is a planning concept about government departments mentioned by Musk in an online conversation with Trump on August 13. In the conversation program, Musk mentioned: I think we need a government efficiency committee to examine where we are wise to spend money and where we are not wise.

A few days after first mentioning the concept, on August 20, Musk posted an AI-generated image on his Twitter account with the label “Department Of Government Efficiency” and the caption “I’m Willing to Serve.”

At that time, DOGE had just emerged, and the liquidity of the on-chain market was relatively poor. At that time, more attention was paid to the TRON chain and the Black Wukong narrative. The market may not have paid more attention to this concept. The related concept coins were basically short-lived and had an extremely short life cycle.

However, it wasn’t long before Musk mentioned this concept again: On September 7, Musk posted an AI picture with the word “DOGE” on his Twitter account, with the caption “Department Of Government Efficiency” and pinned this tweet. At that time, the ETH mainnet chain was in a period of renewed popularity, and the market focused on it. The related concept coins that were launched earlier but disappeared exploded again, and many coins with the same name also emerged.

Wrong angle, all in vain

After sorting out, it is obvious that DOGE completely belongs to the concept of election rather than cats and dogs. Every time Musk mentions DOGE on Twitter, the market will also cause some similar misunderstandings due to such information gap: After Musk posted another DOGE-related tweet on September 28, many secondary players who did not understand the charm of the angle on the chain thought that this move was hinting at Dogecoin, so they directly bought $DOGE, and the final result was silent tears and leaving the market at a loss.

Li Kui or Li Gui, a variety of angles

Of course, once the DOGE concept came out, it was not just the secondary players who loved $DOGE who went to the wrong temple. The primary chain market had its own diversity. The angle dispute also spread here, but this time the name dispute was not limited to uppercase and lowercase, but also the correctness of punctuation: you buy uppercase and I buy lowercase, you go for three-point DOGE and I go for four-point DOGE, each playing their own game, and you take over? Thats impossible! The same concept has derived no less than ten coins with the same name. After layers of screening, Deep Tide has counted several DOGE concept coins that are still liquid and have a certain degree of popularity.

Note: Meme token prices fluctuate drastically and there is a high risk. Investors should fully assess the risks and participate with caution. This article only shares information based on market hotspots. The author and the platform do not guarantee the completeness and accuracy of the content of the article. At the same time, this article does not contain any investment advice.

1. $DOGE: The most popular and largest, but the name is a bit confusing

Contract address:

0x1121acc14c63f3c872bfca497d10926a6098aac5

24H trading volume: $4.4 million

Current market value: $26.7 million

Peak market value: $31.9 million

$DOGE was launched on August 20th. It is the token mentioned above that was short-lived and then revived. After three ups and downs, its market value has risen. The community is relatively active and it currently has some support at 8 M market value. The market value and community size of this token are both the first in the track, but there is no punctuation in the name of the token, which looks like a copycat Dogecoin, which is also a point of criticism.

2. $DOGE: The name is right, but the cabal is gone?

Contract address:

0x46fdcddfad7c72a621e8298d231033cc00e067c6

24 H trading volume: $264,000

Current market value: $600,000

Peak market value: $4.5 million

This $DOGE was launched in September, just after Musk pinned the DOGE concept tweet. The trend has a bit of a conspiracy group feeling. As a latecomer, it experienced extreme torture of explosive pull-plummet tenfold-pull again-plummet again within three days of its launch. It was not until the sniper wallet address sold all the chips that the coin price gradually stabilized. It is currently the second most popular DOGE concept, and its market value fluctuates between 400k and 900k. The disadvantages are that the chips are relatively scattered and the trading volume is small. The consensus has not yet been formed, the PvP phenomenon is slightly serious, and the price fluctuates greatly.

3. $DOGE: Same name as No. 2 but created earlier, average popularity

Contract address:

0xbb376e82b796ec9d5ba68b10b33f79cbe612dc07

24 H trading volume: $116,000

Current market value: $144,000

Peak market value: $798,000

It has the same name as the token above, but the advantage is that this token was created earlier (good news for those who like the OG concept). However, it seems that the current market value and trading popularity are relatively poor, the community is not active, and its performance is average among similar concepts.

4. $DOGE: Four points, a unique name

Contract address:

0x0ccf34d2233e5c203b7047aa57be82eea985d128

24 H trading volume: $525,000

Current market value: $400,000

Peak market value: $712,000

Unlike other tokens, $DOGE has four points and no duplicate tokens. Its recent upward trend is obvious. Its shortcomings are also small trading volume and not very active community.

summary

The concept of DOGE has nothing to do with Dogecoin, but the name is almost the same as Dogecoin, which is associated with Musk himself. Does Musk really not know the impact that his mention of this concept will have on DOGE or crypto players?

However, whether it is a coincidence or intentional may not be important. What everyone really cares about is which ticket can pull the market higher.

As a market participant, you should keep your eyes open in any market hotspots and dont blindly follow them.