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Table of Contents
Can Dogecoin still rise? Analysis of the influence behind Musk's tweets
1. The origin and market positioning of Dogecoin
2. Musk and Dogecoin: The influence of the tweet "leader"
Classic Tweet Case:
3. Key factors for future rise of Dogecoin
1. Application implementation and payment scenario expansion
2. Community activity and developer support
3. Macro environment and market sentiment
4. Risk warning: The fragile logic behind the rise
5. Conclusion: It can still rise, but you need to look at it rationally
Home web3.0 Can Dogecoin still rise? Analysis of the influence behind Musk's tweets

Can Dogecoin still rise? Analysis of the influence behind Musk's tweets

Jul 17, 2025 pm 11:42 PM
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Can Dogecoin still rise? Analysis of the influence behind Musk's tweets

1. The origin and market positioning of Dogecoin

Dogecoin was originally created in 2013 by engineers Billy Markus and Jackson Palmer. It is a "teeth coin" with the original intention of being funny. Its mascot originated from Doge emoticons.

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Although there is no technological innovation like Bitcoin, Dogecoin has gradually accumulated a certain user base in online rewards and small payments due to its low threshold, strong community atmosphere and fast transfer speed .

2. Musk and Dogecoin: The influence of the tweet "leader"

Elon Musk has mentioned Dogecoin on social platforms many times since 2020, which has attracted widespread attention from the market. Its tweets often become the fuse for the short-term surge in Dogecoin prices .

Classic Tweet Case:

  • February 2021: "Dogecoin is the people's crypto" → Soared by nearly 50% in the day
  • May 2021: Hosted by the "SNL" show, the currency price rose first and then fell sharply, reflecting the violent emotional fluctuations
  • April 2023: Twitter Logo replaced with dog icon → DOGE rose by more than 25% in a single day

Analysis: Musk has a huge social influence, especially in the "meme culture" circle. However, the impact of its tweets on Dogecoin is mainly concentrated in short-term speculation , and long-term value support still requires project fundamentals and practical applications to be implemented.

Can Dogecoin still rise? Analysis of the influence behind Musk's tweets - php Chinese

3. Key factors for future rise of Dogecoin

1. Application implementation and payment scenario expansion

  • Dogecoin has been accepted as a payment method by many e-commerce platforms (such as some products on Tesla’s official website).
  • If it can be further integrated with more payment networks, it will increase its actual usage needs.

2. Community activity and developer support

  • After Dogecoin development stagnated for a period of time, the core update was restarted under the call of the community, and active contributions have been made since 2022.
  • Developer ecological construction is still in its primary stage and still lacks the basic capabilities of smart contracts and DeFi

3. Macro environment and market sentiment

  • Meme coins are hyped in the bull market cycle, and capital attention is rising
  • Fragile performance in bear markets and lack value anchorage

4. Risk warning: The fragile logic behind the rise

  • Musk has a strong influence but it is difficult to continue to form a "basic plate"
  • The project lacks business models and incentive mechanisms, and the inflation mechanism is relatively radical (5 billion DOGEs are added every year)
  • The price is extremely strongly driven by news and is easily used by dealers to create a "pull-shipment" trap

5. Conclusion: It can still rise, but you need to look at it rationally

Musk's tweets did boost Dogecoin's hype, but relying solely on the celebrity effect cannot support prices in the long run . Whether it will continue to rise in the future depends on whether it can expand real application scenarios, increase payment penetration rate, and maintain community activity.

Investment advice: Treat Dogecoin as a high-risk meme asset. Positions must be strictly controlled in the short term, and long-term layout must be judged based on actual implementation progress. Treat the "memories" rationally and don't blindly follow the trend.

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