Recently, an interesting viewpoint has been raised in the crypto assets community: the main influencer of DOGE, Elon Musk, may have liquidated his holdings. This claim has sparked some discussion, but we need to take a more comprehensive look at the issue.

First, we must recognize that, aside from Bitcoin, most Crypto Assets may be seen as supporting roles. In this fast-changing market, short-term hot spots and small-scale alternative coins are emerging one after another. However, DOGE, as a well-known and long-established alternative coin, has a large trading community and ample liquidity, making it a very attractive trading target.

Even if some believe that Musk may be manipulating the market, this does not fully explain the price trend of DOGE. When DOGE was at $0.05, $0.08, or $0.1, how many investors seized the opportunity? Even if they bought in, how many could stick to holding long-term?

We also need to note that established coins like Ripple (XRP) and Cardano (ADA), although they have high chip concentration, concluding that large holders have withdrawn solely based on price declines or relative stagnation may be an oversimplification.

Similarly, we must also reflect on the FUD (fear, uncertainty, and doubt) that Ethereum has faced, as well as the serious scrutiny that Binance experienced when Zhao Changpeng was arrested. These events remind us that market sentiment often seeks reasons to explain price fluctuations, whether they are rising or falling.

Overall, the analysis of the crypto assets market needs to be more objective and comprehensive. We should be wary of overly simplistic explanations and instead consider multiple factors, including technological developments, regulatory environments, market sentiment, etc., to gain a more accurate understanding and prediction of the market.