Dogecoin holders celebrate April 20 as "Dogeday" while the SEC reviews ETF applications.
Dogecoin holders celebrated April 20 as "Dogeday," a community celebration that began in 2021 and coincides with International Marijuana Day. This date has become an annual event for the Dogecoin community, which has maintained its presence in the cryptocurrency market despite criticism for its lack of utility and inflationary structure.
With a current value of $23.3 billion, Dogecoin ranks as the eighth-largest cryptocurrency by market capitalization. It incorporates approximately 14.4 million new coins into circulation every day, resulting in a daily inflation of over $2.16 million. This amounts to an annual addition of around 5 billion coins. This token economy has generated criticism, but it also seems to contribute to the coin's appeal in the retail market by keeping prices relatively low, often below $1.
