The New Value Cycle of DOGE: Political Traffic Potential and Musk's "Department of Government Efficiency"

Recently, the MEME ecosystem has been thriving, with numerous projects achieving significant gains. However, while focusing on this sector, we should not be misled by survivor bias and must remain rational and ensure proper risk control. This article will focus on the leading project in the MEME sector, DOGE, exploring its latest developments and potential political traffic opportunities.

The Development History of DOGE: Growth Driven by Traffic

DOGE was co-founded in December 2013 by Billy Markus and Jackson Palmer, originally intended to satirize the hype surrounding the cryptocurrency market. Unlike Bitcoin, DOGE has no supply limit and is technically similar to Litecoin. Its development has largely benefited from strong community support, such as fundraising for the Jamaican bobsled team to participate in the Winter Olympics in 2014.

In 2017, when the cryptocurrency market exploded, DOGE also saw a brief rise. But it wasn't until 2020 that Elon Musk's support truly changed the fate of DOGE. Musk praised DOGE multiple times on social media, leading to extreme price fluctuations. In April 2021, the price of DOGE hit an all-time high, breaking through $0.70. Despite experiencing some fluctuations afterward, the popularity of DOGE has continued.

Musk's "Government Efficiency Department" and New Opportunities for DOGE

Recently, Musk proposed an initiative called the "Department of Government Efficiency" (D.O.G.E). This is a plan co-launched with Trump aimed at conducting a comprehensive financial audit of the federal government and making recommendations to reduce waste and unnecessary spending. Trump announced the plan during a speech in New York, and Musk expressed his willingness to participate without compensation.

The name of this initiative is inspired by the DOGE community. Musk responded to a suggestion from a DOGE supporter on social media, and subsequently posted an image expressing his willingness to serve this purpose. Trump also responded positively, stating that if elected president, he would work with Musk to create a government efficiency committee.

As the election approaches, the support rate for Trump's camp has reversed, and this initiative has attracted attention again. Musk discussed the D.O.G.E plan once more in his speech at the Pennsylvania town hall, which may be a major factor driving the recent increase in DOGE.

The Possibility of Musk Entering Politics and Its Impact

The possibility of Musk entering politics is relatively high. In this U.S. election, he has clearly expressed his support for Trump, not only acquiring a social media platform but also actively donating to Trump's campaign team. Trump has also repeatedly expressed a desire to invite Musk to enter politics or serve as an advisor.

Considering Trump's experience during his last term, he may be more inclined to choose political outsiders as allies. Musk, as a new face with broad influence, could play an important role in economic policy-making.

If the "Government Efficiency Department" is successfully implemented, its proposal to streamline government agencies will resonate with Trump's "small government" philosophy and is sure to attract widespread attention. This will provide DOGE with a new source of traffic - political traffic. For example, if in January 2025 the U.S. Government Efficiency Department (D.O.G.E) proposes a plan to cut 30% of government departments, it will undoubtedly create significant exposure opportunities for DOGE.

Therefore, DOGE may become an important hotspot for transactions related to Trump in the cryptocurrency industry. We will continue to monitor this development trend and its potential impact on the value of DOGE.