Behold, the estimable DOGE-1, a Solana-based meme token, hath experienced a most extraordinary ascent, soaring above 300% following the illustrious Elon Musk’s cryptic utterance of “It’s time” upon X. A most curious phenomenon, indeed, as traders, ever eager for folly, hastened to embrace this token with unseemly fervor.
The discourse commenced on the third of November, when the enterprising user DogeDesigner alluded to Musk’s 2021 pledge to “put a literal Dogecoin on the literal moon,” declaring, “No Highs, No Lows, Only DOGE.” Musk’s reply, though brief, ignited a firestorm of market enthusiasm, propelling DOGE-1 into a state of most unseemly exaltation.
It’s time 😀
– Elon Musk (@elonmusk) November 3, 2025
Previously, on the second of November, DogeDesigner had mused upon the possibility of lunar voyages with SpaceX, to which Musk, ever the visionary, affirmed his intent to “lean in big on the Moon.” Thus, the stage was set for DOGE-1’s meteoric rise.
Before this grand affair, DOGE-1 languished at a meager $0.000282, its all-time nadir. Yet, following Musk’s remarks, the price ascended past $0.0014, a most remarkable 350% increase. Presently, per CoinMarketCap, DOGE-1 hovers at $0.0012, having risen 11.5% in the last 24 hours, though its trading volume hath dwindled by 30% from the prior day.
The Venerable Dogecoin Faces Distress
While DOGE-1 revelled in its triumph, its progenitor, Dogecoin, found itself in a state of considerable distress. Wallets containing between 10 million and 100 million DOGE hath offloaded nearly a billion coins over the past week, a most alarming trend.
Dogecoin’s market cap hath plummeted from $55.7 billion at the close of October to a mere $24.4 billion in a week, a loss of roughly $30 billion. Its price hath dipped below $0.18, reaching a low of $0.1527, and is down slightly 1.45% in the last 24 hours. Over the past month, it hath fallen nearly 37%, suggesting the rebound may be but a fleeting mirage.
The broader crypto market, too, hath experienced a decline. Ethereum fell 5.5%, and Solana approximately 3%, while smaller memecoins like TRUMP stumbled slightly. Bitcoin’s dominance hath ascended to nearly 60% as investors consolidate their assets into the largest cryptocurrency.
Traders Embrace DOGE-1’s Momentum
The DOGE-1 price surge hath drawn the attention of prominent traders, including a certain individual, known by the pseudonym “god.sol” or “Mitch.” According to blockchain tracker Lookonchain, Mitch hath acquired 16.27 million DOGE-1 tokens during the rally, a most prudent investment.
According to Solscan, an on-chain data analytics tool for Solana, Mitch hath expended about 100 SOL, worth roughly $14,800, to secure his position. The investment hath already appreciated, with his holdings now valued at approximately $19,665.
Mitch hath previously amassed $2.8 million from short-term memecoin trades, illustrating how a select few may influence such volatile crypto rallies. A most curious spectacle, indeed.
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2025-11-05 16:06