Dogecoin holders worldwide celebrate “Dogeday” on April 20, as the memecoin’s community awaits upcoming deadlines for Dogecoin-related exchange-traded fund (ETF) applications.
Dogeday marks the unofficial holiday of the Dogecoin (DOGE) community. It gained traction in the memecoin community four years ago, in 2021, during International Weed Day on April 20.
Source: Bitget
Despite its reputation as a joke token, Dogecoin remains the eighth-largest cryptocurrency by market capitalization, currently valued at $23.3 billion, according to CoinMarketCap.
Dogecoin’s tokenomics have often been criticized for issuing 14.4 million worth of new DOGE into circulation per day, giving it a daily inflation rate of over $2.16 million.
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Top 10 cryptocurrencies by market capitalization. Source: CoinMarketCap
Dogecoin’s staying power “stems from