ExtraOrdinal Daily #127 | Could D.O.G.E Re-Kickstart the Bull Run?

19th Feb 2025 ||| Issue #127
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Table of Contents

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Todays Top Stories

Could D.O.G.E Re-Kickstart the Bull Run?

Elon Musk and Donald Trump’s proposed “DOGE Dividend”—a direct payment to U.S. taxpayers funded by savings from the Department of Government Efficiency (DOGE)—has reignited discussions about whether this could lead to retail’s return and another crypto-fueled bull run powered by government assistance.

If approved, the proposal would send $700 per citizen (or more per taxpayer), raising the question: would history repeat itself?

The last time the U.S. government handed out free money, crypto went parabolic. During the COVID-19 pandemic, stimulus checks arrived in three waves—$1,200 per adult in early 2020, $600 in late 2020, and $1,400 in 2021. A large chunk of these funds ended up in crypto, with estimates suggesting billions of dollars flowed into Bitcoin, Ethereum, and other assets.

At the time, ultra-low interest rates, inflation fears, and a rapidly growing retail trading culture fueled a speculative frenzy. Bitcoin, which sat at around $7,000 in early 2020, soared to nearly $69,000 by late 2021—driven in part by fresh retail money chasing massive gains. Stories of stimulus-funded crypto windfalls (and wipeouts) became legendary. Now, with the DOGE Dividend on the table, some wonder if it could spark a similar wave of enthusiasm.

Would it have the same impact? It’s possible, but the landscape has shifted dramatically. The market is more mature, the cost of living is far higher, and many who might have gambled their stimulus in 2021 would now be forced to use it just to get by. Public skepticism toward meme coins has also grown sharply, especially after this past week’s grotesque unfolding of events in the crypto space.

However, if history has proven anything, it's that retail traders can’t resist a good gamble—especially when "free money" is involved. Whether DOGE can truly ignite another bull run remains to be seen, but if past trends hold, a fresh injection of capital could send at least some corners of the market soaring once again..

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Daily Bites: Today’s Top Articles

Todays Markets

Ordinals

OrdiFrogs are the standout winner today—but what exactly are they, and where did they come from?

The socials page on the Magic Eden collection links confusingly to @RunestoneBTC, while the Ordzaar mint page links to a now-deactivated @OrdiFrogs_ account.

A deeper search for OrdiFrogs yields no new answers, adding to the mystery surrounding their sudden surge. Given the rest of today’s price action, this is about as exciting as it gets.

Perhaps it’s worth mentioning that Bitcoin Frogs, once trading close to 0.5 BTC per unit, have now dropped to under 0.1 BTC—roughly $860 each. Given their historical significance as one of the first major Ordinals projects, are these severely undervalued, or are we witnessing their slow fade into irrelevance? Hopefully the former.

Runes (Bitcoin Memecoins)

$DOG is up 12% today, but with it going live on Solana in just a few hours, buyers do not seem to be fearful that Solana traders will do their favorite and crush it to zero within minutes of launching. A good sign.

$MIM holds second place, even after its fresh migration yesterday, but fails to dethrone the undisputed leader that has dominated Runes from the start.

$GIZMO, after its weekend surge, has unfortunately retraced a fair bit, while $LOBO clings to 10th place with an 11.5% gain.

Riveting stuff. A catalyst rally can’t come soon enough.

Todays Opportunities

Giveaways

There are currently three raffles live, so join the Discord below and make sure you have notifications on so you don’t miss out!

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Nothing in this or any other ExtraOrdinal Daily publication should be construed as financial or investment advice.

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