Dogecoin holders celebrate ‘Dogeday’ 4/20 as ETF decision draws near
Dogecoin holders celebrate "Dogeday" on April 20, coinciding with anticipated deadlines for Dogecoin-related ETF applications. Dogeday, an unofficial holiday for the Dogecoin community, originated in 2021. Dogecoin is the eighth-largest cryptocurrency by market cap, valued at $23.3 billion. The tokenomics of Dogecoin face criticism for a daily issuance of 14.4 million DOGE, leading to a daily inflation rate exceeding $2.16 million. Community-driven enthusiasm and low entry barriers contribute to Dogecoin's appeal, particularly among retail investors. The upcoming deadlines for ETF applications include Bitwise and Grayscale, with responses expected on May 18 and May 21, respectively. Other pending applications from 21Shares and Osprey lack set deadlines. Social media endorsements, particularly from Elon Musk, have influenced Dogecoin's market performance.
