The Department of Efficiency established by Trump on its first day (DOGE) was dissolved in less than a year due to operational issues and legal problems. The department was named in the spirit of encryption culture, but its actual results fell far short of expectations, resulting in a significant waste. Its failure demonstrates that the combination of politics and encryption culture requires practical implementation and value creation, which should prompt deep reflection.

Elon Musk reiterated SpaceX's DOGE-1 lunar mission on November 4, sparking attention in the crypto market. Although the price of DOGE has limited rebound, it shows that investors are becoming more rational and starting to value project fundamentals. Under the current market pressure, a successful launch will mark a significant shift of DOGE from a meme coin to real commercial applications. The DOGE-1 mission has completed its technical review and is scheduled for launch in 2025, becoming a new milestone in the application of Crypto Assets.

Many people are saying that the Meme coin PING under the x402 protocol looks reminiscent of the 2023 BTC inscription craze. It indeed does seem similar. So where exactly does it resemble? Can it also follow a development trajectory similar to that of inscriptions?
The answer is: yes.
Core similarities: on-chain data + off-chain adjudication rights
How to play with inscriptions?
Users send transactions to the BTC mainnet, holding specific UTXOs. But there is a problem here— the BTC mainnet has no ability to determine whether a transaction is a "true inscription". What really matters is the Ordinals indexer. It acts as a third-party arbiter, scanning all transactions on the BTC chain and determining which ones count as valid inscriptions according to its own rules (such as "First is First").
What about PING?

The Government Efficiency Department (DOGE), named after the Dogecoin symbol, attempted bureaucratic reform through internet meme culture. Its early performance was remarkable, but it ultimately faded silently within 294 days. Although it claimed to save $160 billion in expenses, the actual results fell significantly short and triggered multiple lawsuits. DOGE's attempt, though unsuccessful, demonstrated the potential of symbolic economy in the political arena, but also emphasized the importance of practical effectiveness.

Solana confirms its Chinese name "索拉拉," symbolizing the spirit of creators and aligning with the rise of Chinese memes. This rebranding is not only a localization of the brand but also demonstrates the importance of Chinese users in the global crypto ecosystem, reflecting a shift in Web3 cultural integration. Understanding local culture has become key to the success of projects.

The article analyzes the current bear market situation, highlighting reduced market liquidity and the crisis in the altcoin ecosystem. MEME tokens fail to achieve long-term value, exchanges face threats from new tools, and the entire industry is in trouble with severe talent loss. The author emphasizes the need for technology-driven innovation to reshape industry value.

These past few days, the most frequently asked question has been: What are the $PING and $PAYAI projects doing? Instead of pumping the price, they are actually messing around—one is a MEME coin trying to launch a Launchpad platform, and the other is a utility token attempting to migrate and swap pools. Both seem to be heading towards abandoning their projects. It’s truly baffling.
Honestly, in this environment, no one has much confidence. I’ll share some observations that are easier to understand.
First point: These two actions are actually quite reasonable.
With a better market fundamentals, these operations would definitely be considered positive. The problem is—MEME coins’ biggest weakness is the lack of a sustainable empowerment mechanism, relying solely on consensus and sentiment. Utility projects have a low ceiling and relatively low technical barriers, which leads to both projects currently lacking the "confidence" support.
Recently, the actions of $PING and $PAYAI are actually about addressing their own shortcomings. $PING is trying to...