This Bull Market's biggest Alpha: Musk's trading drives DOGE, PUNT... to a legendary surge.

Recently, DOGE has once again become the focus. Trump announced the appointment of Musk as the leader of the newly established 'Department of Government Efficiency,' which shares the same name as DOGE, sparking a wave of enthusiasm for DOGE. This article will explore the origin of this department, the connection between Musk and DOGE, and the impact of this event on the encryption market. This article is based on the article 'The Origins and Development of Department 'DOGE'' by Ah Ray, organized and translated by Block Beats. (Background: Musk's 'DOGE Efficiency Committee' may lead to the largest layoff in U.S. government history? Also wants to abolish the Fed?) On November 13th, at 9:30 in the morning, Trump released a proclamation announcing the appointment of Musk to lead the Department of Government Efficiency (DOGE) to eliminate government bureaucracy, reduce overregulation, cut wasteful spending, and reorganize federal agencies. Subsequently, Musk also released the logo of the Department of Government Efficiency and stated that 'let the government become more interesting.' Since then, a brand new government department named after memecoin has appeared on the political stage in the United States. Where did the department 'DOGE' come from? The past and present of the department 'DOGE' The ancestor of meme coin: DOGE DOGE (Department of Government Efficiency) and the ancestor of meme coin, Dogecoin, share the same name (also known as DOGE in Chinese). DOGE (DOGE), as the ancestor of meme coin, was inspired by the popular 'Doge' internet memes (originally based on a Shiba Inu named Kabosu). DOGE was established in 2013 by software engineers Billy Markus and Jackson Palmer. At the beginning of its creation, they hoped to create a relaxed and happy cryptocurrency to satirize the speculative craze in the cryptocurrency market at that time. After the launch of DOGE, it immediately gained tremendous success, was warmly welcomed on websites such as Reddit, and was even used as a tip for tipping. Meanwhile, Musk also has a deep relationship with DOGE. In April 2019, Musk stated on Twitter that Dogecoin is his favorite cryptocurrency and that DOGE is 'cool.' In the May 2021 episode of 'Saturday Night Live,' Musk referred to himself as the 'Dogefather' and called Dogecoin the 'people's cryptocurrency.' Over time, Musk gradually became linked to Dogecoin Depth and even became the public image spokesperson for Dogecoin. To date, DOGE has experienced four bull and bear cycles but still firmly holds a place in the top ten of the encryption market cap. However, the protagonist of today's story is not DOGE, but the government department 'DOGE' with the same name. The origin of D.O.G.E. The story began on August 20th this year, when Trump announced that if elected president, he would appoint Musk to the cabinet or as a government adviser. At a time when there was much discussion about Musk's possible position, the Twitter account of Sir Doge of the Coin responded that Musk could serve as the Department of Government Efficiency, abbreviated as 'DOGE.' Subsequently, Musk followed and retweeted the post, saying 'this is a perfect name.' Since then, the story of DOGE has unfolded with the election campaign. On October 26th, in Pennsylvania, Musk likened the government's opaque financial spending to a swamp and mentioned: 'We (DOGE) will be very open and transparent, and very clear about what we are doing with the Department of Government Efficiency, what the existing problems are, and how the expenses are calculated.' 'We need to drop spending. If someone has a better way to drop spending, please tell us. But if we don't do this, we will go bankrupt. So, we have to do something. And we have to take some pretty big steps.' Not only did Musk himself speak about his views on the 'Department of Government Efficiency' in many speeches, but Trump also listened to Musk's suggestions. Trump stated in a speech on September 6th that he would establish the 'Department of Government Efficiency' after winning the election and that Musk would lead the work of the department. With Trump and Musk's mutual efforts, the second creation and mass movement based on the Department of Government Efficiency (DOGE) began to flourish. Americans began to realize the 'importance of government efficiency,' and social media was filled with condemnations of government resource waste: 'The U.S. Treasury Department reported that there were $24.5 billion in 'unchecked transactions' in the past year,' 'Department of Agriculture employees abused government-issued credit cards, spending millions of dollars on concert tickets, tattoos, underwear, and cars,' 'Transgender monkey research cost $33.2 million.' Whether on X, INS, or TikTok, if you care about politics and the election, you can see a continuous stream of works related to government efficiency. Since then, DOGE has not only been simply named after Dogecoin but has become a powerful weapon and cultural symbol for Trump supporters to oppose the Democratic Party's financial opacity and chaotic government expenditure in the election campaign. The biggest Alpha of this bull market: Musk trade In this cycle, 'Musk trading' has become particularly important. Unlike 'Trump trading,' which is more focused on U.S. stocks and the era of encryption β, 'Musk trading' is almost the strongest Alpha to emerge after the election. Any cryptocurrency related to Musk, such as DOGE and PNUT, has led the encryption market since the election. DOGE, as the largest market cap meme coin, is considered by most investors to have an overinflated market cap and a price-to-effectiveness ratio that is not as good as other 'small cap' meme coins. However, in the past 14 days, DOGE has achieved a 120% increase, with a 96% increase in the past 7 days. DOGE's outstanding performance is attributed to Musk's substantial support for Trump in the election, which the market generally regards as a huge Favourable Information if Trump wins. Additionally, Musk's potential use of Dogecoin in the payment system is also considered Favourable Information. At the same time, it's worth noting that on November 3rd, Robinhood Crypto has supported the transfer and withdrawal of DOGE tokens. PNUT The squirrel image of PNUT originates from a squirrel named 'Peanut' adopted by an engineer named Mark 7 years ago. Mark frequently shares interaction videos with Peanut on IG and gradually gains tens of thousands of fans. However, nearby residents complained to the New York State Department of Environmental Conservation (DEC) that Peanut was carrying an infectious disease. Surprisingly, DEC raided Mark Longo's home and took Peanut away without a search warrant. As a result, Mark Longo posted on social media...