Honestly, discussing the future of DOGE in this circle is a bit painful right now. But seeing so many people still all in on this coin, as someone who has been immersed in the market for years, I have to speak my mind.

What worries me the most isn't really the technical issues, but the fact that the fundamental support logic of this coin has already begun to shake.

**Sentiment is its lifeblood, but sentiment is also the most fragile**

Just think about DOGE's performance over the past few years — a tweet from a big V can trigger a surge, while months of silence can smash it down to the floor price. This reliance on consensus and emotion, in today's increasingly rational market participants, is becoming ineffective. Once the public's aesthetic fatigue hits a tipping point, the speed at which consensus disperses will be so fast that you won't be able to react.

**The trap of unlimited supply is deeper than you think**

From an economic perspective, DOGE having no supply cap is fundamentally problematic. Comparing it to scarce assets, what does unlimited issuance mean? It means no deflationary expectation; as long as market demand stagnates, it becomes a piece of paper printing infinite money. The essence of the Meme Coin track is, frankly, a race of who can run faster — the later entrants are just taking over from the earlier ones. This logic becomes especially glaring in a bear market.

**The lack of ecosystem is exposing itself**

Over the years, DOGE has been emphasizing its payment function, but what is the reality? Besides buying some merchandise, what else can you do with it? Looking at the current market, Layer 2 solutions are rapidly being implemented, AI sectors have numerous application scenarios, RWA is bringing real-world assets on-chain — every track is building solidly. And DOGE? It’s still stuck in the same place. Without an ecosystem moat, even the most dazzling story will gradually fade over time.

**How to choose**

If you're still holding a heavy position in DOGE, my advice is straightforward: stop fooling yourself. Gradually reduce your holdings and switch to underlying public chains or leading projects with real value support. We entered this market to make money, not to cling to a meme.

Risks always reveal themselves last. It’s smarter to adjust your positions now while there’s still time, rather than regret when your account is wiped out.