Doge Day 420 is taking over Twitter and Reddit, with the #DogeDay420 hashtag trending as a result of the continued popularity of Dogecoin. So what is DogeDay 420, and why are social media users attempting to give Doge its own international day?
What is Doge Day 420 and why is it trending?
Doge Day 420 is an event planned by Dogecoin investors and supporters, with them attempting to make April 20 (a.k.a. 4/20) an international day of celebration for the Doge cryptocurrency.
Given that Dogecoin’s roots lie in it being a meme cryptocurrency, investors want to transform what has traditionally been a date celebrated by cannabis smokers into a date for Doge. On this day, investors also want to increase the value of Dogecoin to $0.69, a sizable increase over its current $0.39 standing on the market and yet another meme number.
Dogecoin investors are then looking to continue increasing its price all the way until 6/9, or June 9, where they hope it will hit the $4.20 mark. Such dramatic increases may seem unlikely at this juncture, but with cryptocurrency experiencing a tremendous boom its supporters believe that it’s still a possibility.
— TheGrimShiba (@TheGrimShiba) April 19, 2021
In less than a week, Dogecoin’s value has risen from $0.12 to just under 40 cents, a meteoric rise for the cryptocurrency. The current plan is to get its value to stick at 69 cents, a goal which has been supported by Tesla CEO Elon Musk.
Musk has been a vocal supporter of Dogecoin, with his tweets about the crypto having been a factor in its continued rise. Back in July 2020, Musk tweeted that it was “inevitable” that Dogecoin would experience a boom, and while this tweet may have been tongue-in-cheek given that the meme crypto was relatively overlooked last year, he tweeted again this week in order to point out his somewhat prophetic message.
— Elon Musk (@elonmusk) April 16, 2021
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