Dogecoin Turns 4: ‘Dogeday’ Party Picks Up Steam On ETF Buzz
Dogecoin enthusiasts celebrated "Dogeday" on April 20, marking the fourth year of this tradition for the meme cryptocurrency, which has grown to a market cap of approximately $23.3 billion. Analysts credit Dogecoin's success to its strong community and inflationary model, allowing for around 5 billion new coins introduced annually, making it accessible for small investors. Current proposals for Dogecoin ETFs are under review by the U.S. Securities and Exchange Commission (SEC), with potential approvals for Bitwise and Grayscale expected in May. These ETFs could attract institutional investments, significantly increasing capital in Dogecoin. Elon Musk's support has been pivotal, with his endorsements causing notable price spikes. Critics argue that Dogecoin lacks technical features compared to Bitcoin and Ethereum, relying instead on social media hype. Despite skepticism, hashtags like #Dogeday2025 and #DogecoinToTheMoon reflect ongoing community enthusiasm.
