Dogecoin holders celebrate ‘Dogeday’ 4/20 as ETF decision draws near
Despite over $2 million in daily inflation, Dogecoin remains the dominant memecoin as ETF decisions from the SEC approach.
Dogecoin holders worldwide celebrate “Dogeday” on April 20, as the memecoin’s community awaits upcoming deadlines for Dogecoin-related exchange-traded fund (ETF) applications.
Dogeday marks the unofficial holiday of the Dogecoin
$0.1538
community. It gained traction in the memecoin community four years ago, in 2021, during International Weed Day on April 20.
Despite its reputation as a joke token, Dogecoin remains the eighth-largest cryptocurrency by market capitalization, currently valued at $23.3 billion, according to CoinMarketCap.
Dogecoin’s tokenomics have often been criticized for issuing 14.4 million worth of new DOGE into circulation per day, giving it a daily inflation rate of over $2.16 million.
Dogecoin community awaits DOGE ETFs deadline in May
The Dogecoin community is closely watching the US Securities and Exchange Commission as it weighs several DOGE-related ETF applications.
There are four Dogecoin ETF filings awaiting approval: the Bitwise Dogecoin ETF, the Grayscale Dogecoin ETF, the 21Shares Dogecoin ETF and the Osprey Fund Dogecoin ETF.
Grayscale’s ETF application is due for a response on May 21 after the SEC delayed its decision on multiple crypto ETF filings.
