Dogecoin hasn’t been around for very long, but it’s already become a popular cryptocurrency. Now people are trying to make DogeDay 420 happen to celebrate this coin. Therefore, what is DogeDay 420, and why are social media users for Doge international day?
What is Doge Day 420, and Why is it Trending?
A day celebrating Dogecoin? That sounds like an exciting idea! April 20th, also known as 4/20 in cannabis culture and slang for “get high” or multiples thereof- has been set aside by DOGE supporters to celebrate all things crypto.
Dogecoin was created as a joke currency. It now has serious investors, and they want to see that value jump up. DOGE investors are laying plans to change the famous date celebrated by cannabis smokers into a DOGE date.
Dogecoin has been on an incredible ride, reaching new heights with every passing day. It isn’t likely that it will stop at $4.20, but who knows? With cryptocurrency experiencing such a boom, many people are still optimistic about the possibilities of DOGE’s success in 2021 and beyond.
Dogecoin has been making some serious moves in the past few days, and it’s about to get even more interesting. In less than a week, the value of Dogecoin has increased immensely. This is a cause for celebration for many crypto enthusiasts since it means their investment is paying off after all. Tesla CEO Elon Musk supports reaching an intermediate goal that would see its price at around 69 cents per coin.
In July 2020, Elon Musk tweeted that it was “inevitable” that Dogecoin would experience a boom. In his prediction, he foresaw a rise and said back then he didn’t know if his message would be tongue-in-cheek or not, given the meme crypto’s relative obscurity last year. But, since then (even though there have been many other tweets), his second prediction has come true. The value of one DOGE is up about 100% on BTC terms.
Doge Price Drop
Dogecoin has seen one of its lowest levels in over two years. The coin’s transaction count dropped to around 15000, a considerable decrease from before when it was at an average level close to 100k per day.
Mid May this year, the price of DOGE broke its ceiling at $0 .73. Yet, it has since dropped by over 70%. Currently, it stands at 0.21 – a significant decrease from where we were just last week. Experts agree that these fluctuations stem mainly due to China’s recent ban on crypto mining. Additionally, the announcements made earlier by both US FDA Commissioner Scott Gottlieb about plans for regulating crypto openly or clandestinely might be the cause.