Dogecoin enthusiasts are marking “Dogeday” on April 20 — a community celebration that began in 2021 — just as the memecoin faces a potentially pivotal moment with the U.S. SEC reviewing multiple Dogecoin ETF filings.
Despite being often labeled a “joke coin,” Dogecoin ($DOGE ) holds firm as the eighth-largest cryptocurrency, boasting a $23.3 billion market cap. Its inflationary design, minting 14.4 million $DOGE daily, results in over $2.16 million worth of new tokens entering circulation each day — a point of criticism, but also part of its retail-friendly appeal.
Dogecoin thrives on community support, memetic culture, and celebrity endorsements, notably from Elon Musk. Its low price per unit continues to attract newcomers, even as critics highlight its lack of core blockchain utility.
Now, eyes are on the SEC, with four ETF proposals — including from Bitwise, Grayscale, 21Shares, and Osprey — currently awaiting decisions. Bitwise’s deadline is May 18, while Grayscale’s is May 21. The SEC could push final decisions out to October 2024.
Whether or not ETFs get the green light, Dogecoin’s meme-fueled momentum continues to defy expectations — and Dogeday 2025 might just hit harder.
