As Bitcoin tumbles, Dogecoin fans want to make ‘DogeDay’ happen on April 20
With the price of Bitcoin slumping over the weekend, fans of the popular spoof cryptocurrency Dogecoin are hoping to make April 20 “Doge Day.”
Posts on sites like Twitter and Reddit are urging fans of Dogecoin to celebrate “Doge Day” by buying up the digital coins based on a meme starring a Shiba Inu, a dog breed with a fox-like appearance.
As of Monday morning, the price of Dogecoin is at 37 cents, up 24%, according to the digital currency exchange Coinbase.
“Don’t forget to buy your Dogecoin while it’s low! Buy and hold. Don’t panic sell. Together, we can get Dogecoin to the moon!,” reads a post on Reddit from a user who goes by the handle dngray.
The topic #DogeDay is trending on Twitter, with several posts urging support for Dogecoin.
Waking up to see #Doge going to the 🚀 bc #DogeDay420#DogeDay like:
It is never too late to get into the Doge community.
We support everyone. The individuals joining at $0.42 and just as important to us as the individuals who have been here since $0.004.#DogeDay420#DogeDay#dogecoinpic.twitter.com/g43f2LSTwt
🤪🤑🤪🤑🤡🤡🤣🤣🤣 tomorrow is going to be amazing #DogeDay#DogeDay420pic.twitter.com/1AxAQhZmh8
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Dogecoin – created as a joke poking fun at the rise of digital currency – has soared more than 400% in the past week and skyrocketed by more than 5,000% since the start of the year.
Meanwhile, Bitcoin’s price dropped 15% late Saturday days after hitting record highs. The plunge was the cryptocurrency’s biggest since February.
A screengrab from the dogecoin.com website. One of the Dogecoin founders told a cryptocurrency news site that the token's rise makes him worry about market excess. (Photo: dogecoin.com)
Jessica Menton contributed to this report. Follow Brett Molina on Twitter: @brettmolina23.
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