DOPE project introduction

Recently, the U.S. government made significant adjustments to its official media agencies. President Trump signed an executive order to dissolve the U.S. Agency for Global Media (USAGM), the parent company of Voice of America (VOA) and Radio Free Europe/Radio Liberty (RFE/RL), which was responsible for LGBT, far-left, and “woke” propaganda in Eastern Europe and the Middle East. This move quickly attracted widespread attention, and VOA employees filed a lawsuit against the Trump administration, questioning the decision to shut down the agency, arguing that it could weaken America’s global influence and deprive the country of a vital assets.

This adjustment has sparked broad discussions on the functions and roles of government-funded media institutions. Supporters argue that dissolving such agencies would help streamline the federal budget and prevent the inefficient use of taxpayer funds. On the other hand, opponents express concerns that this move could undermine the U.S.’s ability to disseminate information globally, especially amid increasing geopolitical competition, potentially impacting the shaping and distribution of America’s foreign discourse.

Subsequently, Musk publicly supported the closure of these media organizations on social media, calling them a “waste of taxpayer money” and sarcastically renaming them the “Department of Propaganda Everywhere (DOPE).” This quickly caught the attention of the crypto community, directly giving rise to DOPE Coin, inspired by this narrative, highlighting the strong intersection between political discourse and crypto culture.

DOPE related project tweets (image source:https://x.com/elonmusk/status/1901010987655852369)

Project link:

X (Twitter):https://x.com/Dopeon_Sol

Telegram:https://t.me/Dopeonsol_Portal

Dexscreener:https://dexscreener.com/solana/26dRTrJjKH9pKCNHzZyj8u3B8NqrNn6SoSfWRbPpdDRS

Solscan:https://solscan.io/token/26dRTrJjKH9pKCNHzZyj8u3B8NqrNn6SoSfWRbPpdDRS

Trading entrance:https://www.gate.io/zh/pilot/solana/department-of-propaganda-eve-dope

DOPE related news

On March 14, local time, U.S. President Trump signed an executive order aimed at eliminating waste and reducing excessive government power. The order targets federal bureaucracies, including the U.S. Agency for Global Media (USAGM), which oversees several government “mouthpieces,” such as Voice of America (VOA).

On the same day, the White House issued a briefing stating that this executive order eliminated the “illegitimate functions” of these agencies and reduced the statutory functions of “unnecessary government entities” to those strictly within “legal requirements.” At the same time, USAGM took action by terminating its contracts with the three major news agencies—AP, Reuters, and AFP—and instructed VOA journalists to stop using materials from these agencies.

US International Media Agency Logo (Image Source: https://www.usagm.gov/）

According to reports, USAGM will save $53 million through this move. The New York Times pointed out that since Trump’s return to the White House, billionaire Musk and his ‘Government Efficiency Department’ have been attempting to reshape the federal government by reducing personnel and projects. Previously, he also posted on the X platform, stating that media organizations such as ‘Voice of America’ and ‘Radio Free Europe,’ which serve as the U.S. government’s ‘mouthpieces,’ waste significant taxpayer money and should be completely shut down.

$DOPE Token Information

Token name: Department of Propaganda Everywhere (DOPE)

Release time: March 15, 2025

Total supply: 1,000,000,000 coins

Token Type: SPL

Contract Address: 26dRTrJjKH9pKCNHzZyj8u3B8NqrNn6SoSfWRbPpdDRS

$DOPE on-chain information (Image source:https://solscan.io/token/26dRTrJjKH9pKCNHzZyj8u3B8NqrNn6SoSfWRbPpdDRS）

$DOPE Market Performance

In the early stages of its launch, $DOPE quickly gained popularity driven by Musk’s social media tweets. The strong political satire and topical nature sparked speculative enthusiasm in the market, driving up buying sentiment. The price saw a sharp rise in a short period, with the candlestick chart showing a long bullish candlestick with a single-day surge, accompanied by a huge influx of trading volume. However, at this stage, there was a lack of substantial fundamental support, clearly indicating emotion-driven speculation.

After reaching its peak on the same day, the price quickly dropped, forming a series of significant bearish candlesticks, showing a typical ‘waterfall decline’ pattern. This indicated that profit-taking funds were exiting in large amounts, and the market’s ability to absorb the selling pressure was weak. After March 18, the price stabilized, but its downward momentum continued. Trading volume continued to shrink, and market sentiment became tepid. The price remained in a very low range of consolidation, lacking the momentum for an effective rebound.

03/15 - 03/26 period $DOPE trend (source: https://dexscreener.com/solana/26dRTrJjKH9pKCNHzZyj8u3B8NqrNn6SoSfWRbPpdDRS)

As of the time of writing on March 26th, the price of $DOPE was approximately $0.0001959, a drop of over 90% from its peak, giving back most of its gains since listing. The current market reflects a typical ‘post-hype’ pattern, with market enthusiasm fading and a lack of new capital entering. Short-term investors should monitor the remaining trading activity and changes in social volume, while medium- to long-term investors should focus on whether the asset has a sustained narrative and substantial on-chain applications.

$DOPE Risk Warning

As a project recently launched in the cryptocurrency market, investors should fully understand the potential risks associated with DOPE tokens. First, the price volatility of DOPE tokens is high, and drastic price fluctuations may occur in the short term, meaning investors must have appropriate risk tolerance. Secondly, as an emerging token, DOPE may have insufficient liquidity, which could result in difficulties with buying and selling or cause trading slippage. Additionally, information regarding the actual use, technical implementation, and team background of the DOPE project may be limited, so it is recommended that investors only invest funds they are willing to lose.

The skyrocketing popularity of the DOPE token is driven by celebrity public opinion (Image source:https://x.com/Steazytf/status/1904740859104682368）

Conclusion

The rise of DOPE reflects the significant influence of social media public opinion in the cryptocurrency market. Its popularity is not only a reflection of political events on-chain but also an expression of the humor inherent in crypto culture. However, meme projects that lack fundamental support often fade quickly. Investors should approach the price fluctuations driven by short-term emotional speculation with caution, maintaining risk awareness in their trading strategies, and avoid blindly chasing highs. It is also crucial to consider asset allocation before participating. For users looking to gain a deeper understanding of the interaction between Web3 public opinion and market sentiment, DOPE serves as a typical case to observe.