DOGE struggles to reach 1 dollar: trading enthusiasm declines, Token selling pressure hard to alleviate

After last year's U.S. election, Dogecoin was once in full swing - rising as much as 152%, and the price even approached a high of $0.4846, driven by the craze triggered by Trump's appointment of relevant departments. But this wave of market did not last.

To put it simply, the problem lies in two aspects. First, the token economics itself has its weaknesses: with an annual selling pressure of about 5 billion DOGE, it would take a market cap of 147 billion dollars to reach the 1 dollar target, which is indeed quite a pressure. Second, the market enthusiasm has cooled rapidly - the trading volume has dropped sharply from 15 billion dollars a day to 6.6 billion dollars, showing a significant decline in popularity.

Looking again at the new US spot ETFs launched this year, by the end of the year, they only attracted a scale of 5.4 million dollars, far from becoming a new support point for the market. Weak demand coupled with supply pressure, this situation is indeed not optimistic.