Dogecoin, the joke cryptocurrency token (DOGE-USD) gained momentum in the last day of trading against dollar as fans on the internet were celebrating “Dogeday 4/20.” Some are hoping to increase the price up to $0.69 (PS0.49) While others believe it can be as high as $1. The currency was at $0.4200 in the early hours of Tuesday, before retracing back to $0.3819 approximately 2.2 percent.
Some supporters have been dubbed 20 April “Dogeday 4/20” in addition to being International Weed Day. It’s not clear who’s behind this and what the reason is for why this day was picked however Twitter as well as Reddit users are participating in the festivities. Snickers as well as Milky Way, manufactured by the parent company Mars Inc, have tweeted their support. So has the online retailer Newegg.
“The enthusiasm and excitement surrounding cryptocurrency is evident, and the recent increase in Dogecoin’s value highlights the necessity of making it simpler for consumers to purchase items using the most popular cryptocurrency,” Newsweek quoted Andrew Choi, Newegg’s senior brand manager, in a statement. One theory is that 20th April was Tesla ( TSLA) the company’s founder Elon Musk’s most-loved day. Musk has always been a fan for the concept of currency.
Musk has previously tweeted about the cryptocurrency, starting using the term “Doge,” followed by “Dogecoin is the cryptocurrency of the masses,” and “No highs No lows, just Doge.”
He also posted the Lion King meme of him standing with the dogecoin as if it was Simba. And just four days ago, the tweet read: “Doge Barking at the moon” that increased the value of the cryptocurrency at that moment.
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Twitter user @itsALLrisky The user, who has over 50,000 fans and owns a blog about cryptocurrency Twitter user @itsALLrisky tweeted: “This #DogeDay is dedicated to the man the legend, the myth The Technoking of Tesla the Imperator of Mars The destroyer of Shorts, the Master of Memes King of Twitter Humanity’s Best The One and Only: @ElonMusk“
They posted on Twitter: ” #Dogecoin is growing into a popular phenomenon. Brands are accepting it as a form of payment exchanges have begun listing it memes are being created around it. The media is talking about it Your friends are asking questions about it. Your dog is a constant reminder of it every day is “#DOGEDAY!”
The cryptocurrency has attracted a lot of attention from supporters, like Elon Musk who frequently tweets about the coin, which has also been the subject of numerous memes that feature it’s Shiba Inu dog who named it.
In a similar vein there are some Elon Musk fans have also officially declared April 20 to be “Elon Musk Day” in the honor of the inventor they admire most.