Musk said something about Dogecoin to the moon again yesterday, and of course everyone is waiting to see what will happen. But honestly? The market didn't even react that enthusiastically. DOGE stayed around $0.09, nearly 40% lower than last year and still well below the 2021 peak.

The funny thing is that five years ago, a single tweet from Musk would have sent the meme coin soaring. Not anymore. He responded with "maybe next year" to a message that reiterated his old promise from January 2021 — that SpaceX would place a literal dogecoin on the literal moon. That got hundreds of thousands of views, but the price hardly moved.

Musk and his companies have always supported Dogecoin a little. Tesla accepted DOGE payments for certain items, SpaceX did the same with merchandise. And then there's that DOGE-1 satellite mission, funded in Dogecoin, which was supposed to launch on a Falcon 9 rocket. That project has experienced multiple delays, but it remains one of the few real use cases.

But without concrete details or new initiatives, it feels more like nostalgia than something tangible. Elon Musk's son once said that his father likes to make big promises, and that's true here as well. Dogecoin is still in the shadow of its glory days, and even Musk's vague hints can't change that.