#DOGE Brief

Dogecoin remains stable, and the market is ignoring Elon Musk's announcement of X Money. Interest in ETFs continues to decline. Here are the main news:

Internal launch of X Money (December 12, 2025) — Musk confirmed that the X Money payment system is now operational within the company and is expected to be publicly released soon. Previously, news about the X Money beta in May 2025 drove DOGE up by 12.5%, but after the latest announcement, the price only dipped slightly by 0.1%, fluctuating between $0.137 and $0.15. This indicates that the market has become less sensitive to Musk's hype.

This means:
Neutral for DOGE. While the launch of X Money could enhance the coin's practicality, the lack of significant integration of cryptocurrencies into recruitment needs—("focus on fiat payments") and the declining “Musk premium”—suggests DOGE is becoming less dependent on speculative factors. (Bitcoinist)

2. The collapse of meme coin dominance (December 12, 2025)

Overview:
Due to waning retail interest, meme coins' market share has dropped to 0.04, returning to the levels seen at the end of 2022. Coins like Dogecoin and Shiba Inu have fallen approximately 60% from their highs in 2024, with no signs of investors shifting toward emerging meme themes.

This means:
Unfavorable for DOGE. The simultaneous decline across all meme coins indicates structural fund withdrawal rather than a temporary market cool-down. Before retail interest recovers, DOGE remains a high-volatility, high-risk asset, with cautious market sentiment. (AMBCrypto)

3. Issues with Dogecoin ETF (December 11, 2025)

Overview:
On December 10, Grayscale's DOGE ETF had only ( thousand units traded daily, with total ETF assets at ) million USD, while Chainlink ETF held ( million USD. Since its launch in November, Bitwise's DOGE fund has lost ) thousand USD in funds.

This means:
Unfavorable for DOGE. Low demand reflects institutional skepticism toward meme assets, despite DOGE being the first ETF in this category, which remains an advantage. Low trading volume could lead to a “zombie ETF” scenario, weakening long-term growth prospects. (Bitcoinist)

Conclusion

Dogecoin faces three challenges: weakening influence of Musk, industry decline of meme coins, and apathy toward ETFs. From a technical perspective, if buying interest recovers, a breakout above $0.18–$0.20 is possible, but the lack of new momentum makes DOGE vulnerable to further downside. Will Dogecoin break free from its meme coin label, or become a relic of past speculation?