Author: Deep Tide TechFlow
BTC is nearing a breakthrough, and the ones suffering the most might be the secondary players who have been waiting for the altcoin market, with "following the drop but not the rise" being a true reflection of the secondary market in recent days.
However, while the exchange market is quite torturous, the on-chain market remains rich, and various themes and angles have not stopped gaining momentum.
The trend of Cult coins has not completely dissipated, and the Musk concept that recently swept through the ETH mainnet is stirring again. Some concept sectors, after a period of accumulation, have begun to rally once more.
Today, we will discuss the concept that Musk has mentioned multiple times on Twitter recently: "D.O.G.E," is this another "dog" concept coin? Let's explore through this article what this concept is all about and what participation looks like.
This "D.O.G.E" is not the same as "$DOGE"
At first glance, D.O.G.E seems to be a rehash of Musk's beloved Dogecoin $DOGE, with the only difference being a few separators. However, apart from the spelling of the letters being the same, D.O.G.E has no conceptual (or angle) connection to Dogecoin at all.
D.O.G.E stands for Department Of Government Efficiency, which refers to a planning idea about government departments that Musk mentioned during an online conversation with Trump on August 13. In the discussion, Musk stated: "I think we need a government efficiency committee to examine where we are spending money wisely and where we are not."
A few days after first mentioning this concept, on August 20, Musk posted an AI-generated image on his Twitter account, labeled "Department Of Government Efficiency," with the caption "I am willing to serve."
At this time, D.O.G.E was just emerging, with relatively poor liquidity in the on-chain market, and attention was more focused on the TRON chain and the Black Wukong narrative. The market may not have given much attention to this concept, and the related concept coins were basically fleeting, with very short lifespans.
However, it wasn't long before this concept was mentioned again by Musk: on September 7, Musk posted an AI image featuring the "D.O.G.E" characters on his Twitter account, captioned "Department Of Government Efficiency," and pinned this tweet. At that time, the heat on the ETH mainnet was reigniting, and market attention was focused on this, leading to a resurgence of previously launched but silent related concept coins, along with many similarly named coins emerging.
Wrong angle, all in for nothing
Through analysis, it is evident that D.O.G.E completely belongs to the "election" concept, rather than the "cats and dogs" concept. Each time Musk mentions D.O.G.E on Twitter, the market tends to misunderstand due to this information gap: after Musk's tweet related to D.O.G.E on September 28, many secondary players who were not familiar with the "angle" charm of the on-chain market thought this was a hint towards Dogecoin, and thus directly bought $DOGE, resulting in silent tears and losses.
Li Kui or Li Gui, a showcase of diverse angles
Of course, with the emergence of the D.O.G.E concept, it wasn't just the secondary players who loved $DOGE that ran to the wrong temple; the primary on-chain market also has its own "diversity." The angle dispute has also spread here, but this time the dispute over names is not limited to uppercase and lowercase letters, but also the correctness of punctuation: you buy the uppercase, I buy the lowercase; you rush for three points of D.O.G.E, I rush for four points of D.O.G.E. Each plays their own game, and taking over for you? That's impossible! The same concept has spawned no less than ten similarly named coins, and after layers of screening, Deep Tide has listed a few D.O.G.E concept coins that still have liquidity and some heat.
Note: Meme token prices are highly volatile and carry significant risks. Investors should fully assess risks and participate cautiously. This article is merely a sharing of information based on market trends, and the author and platform do not guarantee the completeness or accuracy of the content. This article does not constitute any investment advice.
1. $DOGE: The most popular and largest in scale, but the name is a bit off
Contract Address:
0x1121acc14c63f3c872bfca497d10926a6098aac5
24H Trading Volume: $4.4 million
Current Market Cap: $26.7 million
Highest Market Cap: $31.9 million
$DOGE was launched on August 20, right after the previously mentioned fleeting moment and then a resurgence. After three ups and downs, its market cap has surged, and the community is relatively active, currently providing some support at an 8M market cap. This token's market cap and community size are the largest in its category, but the token name lacks punctuation, making it look like a knockoff of Dogecoin, which is a point of criticism.
2. $D.O.G.E: The name is correct, but did the conspiracy group leave?
Contract Address:
0x46fdcddfad7c72a621e8298d231033cc00e067c6
24H Trading Volume: $264,000
Current Market Cap: $600,000
Highest Market Cap: $4.5 million
This $D.O.G.E was launched in September after Musk pinned the D.O.G.E concept tweet. It gives off a slight "conspiracy group" vibe. As a latecomer, it experienced extreme turmoil within three days of launch: "explosive rise—tenfold crash—re-rise—re-fall," until the wallet address that was sniping sold all its chips, and the coin price gradually stabilized. Currently, it ranks second in heat within the D.O.G.E concept, with a market cap fluctuating between $400k and $900k. Its downside is that the chips are relatively dispersed and trading volume is small, with consensus not yet solidified, leading to a slightly severe PvP phenomenon and large price fluctuations.
3. $D.O.G.E: Same name as the second player but created earlier, with average heat
Contract Address:
0xbb376e82b796ec9d5ba68b10b33f79cbe612dc07
24H Trading Volume: $11,600
Current Market Cap: $144,000
Highest Market Cap: $798,000
This token shares the same name as the previous one, but its advantage lies in its earlier creation date (those who like OG concepts are in luck). However, its current market cap and trading heat seem relatively poor, and the community is not active, performing average among the same concept.
4. $D.O.G.E.: Four points, a particularly unique name angle
Contract Address:
0x0ccf34d2233e5c203b7047aa57be82eea985d128
24H Trading Volume: $525,000
Current Market Cap: $400,000
Highest Market Cap: $712,000
Unlike other tokens, this $D.O.G.E. has four points and no duplicate tokens, with a clear upward trend recently. Its downside is also that the trading volume is too small, and the community is not very active.
Conclusion
The D.O.G.E concept is completely unrelated to Dogecoin, but it happens to be almost identical in name to Dogecoin, which is personally associated with Musk. Does Musk really not know the impact his mention of this concept will have on DOGE or crypto players?
However, whether it is coincidence or intentional may not matter; which ticket can rally may be what everyone truly cares about.
As market participants, it is important to keep a keen eye on any market trends and not to blindly get carried away~
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