Hello DOGGO community members,

I’d like to provide a brief recap and supplement some valuable insights shared during our previous dog-themed Space held on December 4, 2024.
In that Space, we collaborated with ESTEE and KAI from Ethereum, DOUGY from Solana, and the distinctive DOGECHAIN. Below is a concise summary and an expansion on the key points discussed

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The Resurgence of Ethereum

During our meeting last month, I elaborated on the concept of memes and suggested that a wave of meme-driven fervor was imminent. Indeed, we’ve witnessed a surge in meme tokens, kick-starting the altcoin season. However, the type represented by pumpfun memes, as Murad described them, is essentially “hyper-gambling.” These are not tokens that transcend cycles; while some individuals do profit, the underlying model is clear: there are no real communities, just market makers or “whales.” Their sole purpose is to drive up prices to earn profits and exit. The result is that around 90% of retail participants end up being “harvested,” leaving only about 10% who might trigger new rounds of FOMO. Although “pumpfun” may become a permanent fixture in crypto, once the average retail investor realizes it’s a game rigged by market makers to siphon off value, interest will wane. People will seek true value opportunities instead.

We maintain that the real bull market will begin in 2025, and Ethereum surpassing 4,000 USD is just the start. The logic is simple: currently, there are only two ETFs that are approved—Bitcoin and Ethereum. While some may be excited about a potential Solana ETF, its probability of approval is low due to centralization concerns and the SEC’s tendency to view it as a security. Even if Solana’s ETF were approved, history suggests a short-term price drop following the “sell the news” effect. Conversely, Ethereum is seeing a gradual increase in ETF inflows now after institutional players like Grayscale have distributed their holdings. We know Bitcoin’s bull run was propelled by ETFs, and Wall Street money currently has only two prime targets: Bitcoin and Ethereum.

Ethereum remains the most decentralized Layer 1 blockchain. When U.S. Treasuries faced pressure to be sold on-chain, the chosen platform wasn’t any other Layer 1 but Ethereum—specifically via Ondo Finance. This past week, Ethereum broke through a major weekly resistance level. Reaching the year’s high and even its all-time high is merely a matter of time. When that happens, the entire Ethereum ecosystem—including its meme and VC sectors—will flourish. So trust in Ethereum’s strength. As the next cycle unfolds, Ethereum will go wild. Our DOGGO community, one of the few genuinely community-driven projects on Ethereum, has endured through the lowest valleys and is prepared to thrive in the coming surge.

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Dog-Themed Memes as the Eternal Trend and the Key to External Liquidity

Let’s pivot to a recent piece of news: When Bitcoin surpasses 100,000 USD, Trump celebrates publicly. Earlier this year, when Trump spoke at the Bitcoin conference, he said, “Never sell your Bitcoin.” Soon after, Bitcoin tumbled to 50,000, which many saw as the beginning of a major downturn. Yet, for those who bought in at 50,000, their wealth has since doubled. In hindsight, 50,000 was a bargain. This is the power of understanding trends. As community members and retail investors, recognizing the trend is crucial.

Our current trend is the mass adoption of cryptocurrencies. CZ and Vitalik frequently emphasize this point, and it’s becoming increasingly evident. Analysts predict that X (Twitter) may soon launch a crypto platform—perhaps not a centralized exchange, but something similar to a Telegram-like crypto wallet. I believe Elon Musk is already working on this and will roll it out in the near future.

What does this mean for us? Recall the TON ecosystem’s explosive growth earlier this year, driven by brand-new users who had never before touched crypto. Now imagine if X, Instagram, or even TikTok embraced crypto. That level of mass adoption would bring an enormous inflow of external liquidity.
How does this tie into dog-themed memes?The answer is simple:  Why is DOGE the king of memes, the “Bitcoin” of meme tokens? Because dogs are an eternal, universal theme—humanity’s best friend. Globally, one in every three households owns a dog. DOG imagery resonates with people from all walks of life, serving as the perfect bridge between the crypto world and traditional Web2 audiences. DOGE proved it, Shiba Inu proved it, Neiro proved it and DOGGO will prove it. The same story will repeat, again and again. Dog memes will forever reign supreme in the meme realm, whether in Web3 or Web2.

As mass adoption unfolds, we must focus on capturing external liquidity, leveraging our community’s strengths. As DOGGO, we stand out with our meme uniqueness. We are unique without the “Ethereum or Solana” problem, without capitalization issues. When we’re trying to push our community, to push our charts,we should focus on bringing in external liquidity—new money and new people, by our dog memes, by our crypto combined culture—not just recycling the same internal liquidity that switches from one project to another. Pump today, dump tomorrow—that’s not sustainable.

We believe in DOGGO, and I believe in our community’s ability to transcend this bull cycle and thrive.

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DOGGO CTO

2024-12-07