Will Yang|Sep 20, 2026 04:09
Dogecoin has most likely been sidelined by Musk. The best way for Musk to make a comeback in the crypto space is to launch a new coin.
With ZEC's market cap skyrocketing to around $25 billion and entering the top 10, DOGE has been pushed down to 11th place, with its market cap now only about $13 billion.
At its peak in 2021, DOGE's market cap once reached $88 billion, ranking 4th globally. At that time, Musk's net worth on the Forbes list was about $151 billion, peaking at around $340 billion in November.
Back then, a single tweet could move an asset with a market cap comparable to a significant portion of his net worth. It not only garnered global attention but also generated traffic for Tesla, payments, and his personal brand.
But now, Musk's net worth is close to $900 billion, and DOGE's market cap is only about 1.5% of that. More importantly, Dogecoin doesn't fully belong to Musk—he can't control its protocol, supply, or most of the tokens. Even if he hypes DOGE up again, it would be hard for him to directly capture most of its value.
So, from a profit perspective, instead of spending energy on an old project, a more efficient approach would be to create a new narrative that can directly capture value.
For example:
Tesla ecosystem coin
SpaceX or Mars-themed coin
This is just my speculation—there's currently no evidence that Musk is planning to launch a coin.
But I wouldn't be surprised if, the next time Musk returns to the crypto market, he brings not Dogecoin, but a brand-new project that truly belongs to him.
#Dogecoin #ElonMusk #Crypto #ZEC #Tesla #SpaceX #Mars #CryptoNews
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