Currently, in terms of market attention, the popularity of Ethereum is not as high as that of DOGE. Although Ethereum has invested heavily in technological evolution, the biggest problem is that it has not been able to effectively retain users.

The transition from PoW to PoS mechanism upgrade has led to a gradual loss of the global user base of GPU miners; in terms of ecology, although there are numerous Layer 2 networks, their development is fragmented and lacks coordination, which has intensified internal competition, resulting in a significant outflow of resources and funds.
In addition, Ethereum has provided almost no support in the Meme sector, leading to a significant flow of speculative funds into the Solana ecosystem. The slow progress of system upgrades, combined with the continuous asset sell-off by the officials, has gradually weakened the confidence and enthusiasm of early supporters.