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$DOGE pricing power is NOT in spot market — many still haven't realized this. Contract volume is ~5x spot volume for years. Behind $1 of spot, there is $5 of perps competing. The main battlefield for price discovery is perpetuals, spot just follows. Look at this 1M+ K-line structure: Aug 22: Perp volume spiked to $70B+ in a single day — price peaked same day above $0.10. After that, volume steadily shrank to a few billion since September, price faded layer by layer to ~$0.080. Volume is the