From a joke to a financial product, the narrative of DOGE has undergone a fundamental change.

The listing of the DOGE ETF on NASDAQ essentially marks a leap in the DOGE narrative. In the past, DOGE's core labels were "joke," "anti-elite," and "community hype," but now it is packaged as a financial product that can be legally purchased and integrated into account systems. Changes in narrative are often more important than price.

This means that DOGE is no longer just serving the crypto community but is beginning to exert influence externally. For investors outside the circle, they do not care about DOGE's origins; they only care about three questions: Is there enough liquidity? Is awareness high? Is there volatility? Precisely on these three points, DOGE is the most "financially friendly" asset in the Meme track.

Of course, this does not mean that DOGE will replicate BTC's long-term logic. DOGE's advantages lie in sentiment and the speed of consensus diffusion, rather than scarcity. But the emergence of the ETF at least allows DOGE to shed the label of "only for speculation, not for holding." This is a price ceiling breakthrough for the entire Meme track.