Recently, the cryptocurrency market has once again stirred up waves, with DOGE (Dogecoin) experiencing a significant rise of about 17%. This phenomenon has led many investors to reminisce about the DOGE frenzy triggered a few years ago by TSL CEO Elon Musk, when its price soared to nearly 1 dollar.

However, the current market environment is significantly different from the past. The number of cryptocurrencies has surged to tens of thousands, giving investors more choices than ever before. Although the probability of ETF approval is estimated to be as high as 94%, it remains uncertain whether this can drive DOGE to once again challenge the $1 mark.

It is worth noting that the cryptocurrency ecosystem has undergone significant changes today. Meme coins that rely solely on short-term speculation without sustained hot support may struggle to maintain long-term growth. Investors need to carefully assess and avoid blindly chasing prices.

Market analysts point out that given the current complex market environment, it may be wiser to adopt a strategy of gradually building short positions in the short term. However, investors should carefully formulate their investment strategies based on their own risk tolerance and investment objectives.

In addition to DOGE, other meme coins like Shiba Inu (SHIB) are also worth paying attention to. The price movements of these encryption currencies often influence each other, showing a certain degree of correlation.

Overall, the cryptocurrency market is constantly changing, and investors need to stay vigilant, closely monitor market trends and changes in the regulatory environment, and make rational investment decisions.