$DOGE

On April 20, Dogecoin enthusiasts around the world united to celebrate Doge Day, a community-led holiday to honor the most famous meme currency in the world.

While the celebrations showcased the loyal fanbase of the currency and its cultural significance, they failed to create any meaningful market movement.

Doge Day failed to lift the price of Dogecoin as traders faced a liquidation of $2.8 million.

Instead of riding a wave of positive sentiment, Dogecoin was the worst-performing asset among the top 20 cryptocurrencies over the past day.

According to data from BeInCrypto, the token fell by more than 2.5% during the reporting period compared to the market’s overall quiet performance.

This disappointing performance led to a liquidation of about $2.8 million, with traders betting on an upward price movement losing more than $2 million, according to Coinglass figures.

However, even with the lackluster price movement, Dogecoin remains an undeniable presence in the crypto ecosystem. Launched in 2013 as a kind of joke on Bitcoin, DOGE has grown beyond its meme origins.

The digital asset is now the ninth-largest cryptocurrency by market capitalization, currently valued at around $22.9 billion, according to CoinMarketCap.