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#DogeDay Has Taken Over The Internet On 4/20 As Cryptocurrency Holds Strong

by : Emily Brown on : 20 Apr 2021 09:12
#DogeDay Has Taken Over The Internet On 4/20 As Cryptocurrency Holds StrongPA/Flickr CC BY 2.0

Calls of ‘HODL’ and exclamations of ‘stonks’ are flying across the internet as the Dogecoin cryptocurrency holds strong on what has been dubbed ‘#DogeDay’. 

Meme culture is alive and well among amateur investors who have sunk their money into Dogecoin, the cryptocurrency that started as a joke but has since risen to new heights thanks to sheer determination, Elon Musk, and commitment to the meme.

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After passing the 10 cents milestone last week, Dogecoin reached a staggering high of 43 cents on Friday, April 16, with the market rally pushing its overall value above $50 billion and making it among the top five most valuable cryptocurrencies in the world.

The price then dropped slightly, but managed a 25% increase in 24 hours and reached 42 cents on this morning, April 20.

Investors are now encouraging others to hold – or ‘HODL’, as Musk would say – or invest even more in Dogecoin in an effort to increase its share price to 69 cents, apparently for no reason other than the connotations of that particular number, or even to the impressive milestone of $1.

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The focus on Dogecoin has come to a head today, April 20 – or 4/20 – with fans of the cryptocurrency dubbing the event ‘#DogeDay’.

The hashtag is currently trending on Twitter in the UK with more than 265,000 tweets, many of which include memes paying tribute to the Doge meme that inspired the cryptocurrency in the first place.

One post showed Doge in place of Leonardo DiCaprio in The Wolf of Wall Street, branded with the words ‘I’m not f*cking selling’ and accompanied by the caption: ‘We hold and do not sell as an army.’

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Another tweet read: ‘LADIES AND GENTS WE ARE LIFTING OFF,’ while a third user replaced Marvel’s Thanos with Doge alongside the caption: ‘I am inevitable.’

The poster added: ‘It wont stop rising, get in while you still can.’

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Many users have expressed their determination to send Dogecoin ‘to the moon’, a milestone spurred by SpaceX CEO Musk’s endorsement of the cryptocurrency and his declaration earlier this month that his company was ‘going to put a literal Dogecoin on the literal moon.’

Musk doesn’t appear to have directly commented on Dogecoin’s impressive rise in recent days, though he seemed to allude to its success at the weekend when he tweeted: ‘Everything to the moon!’

With so many hours of #DogeDay still stretching out in front of us, only time will tell whether Dogecoin really does make it to the moon.

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Emily Brown

Emily Brown first began delivering important news stories aged just 13, when she launched her career with a paper round. She graduated with a BA Hons in English Language in the Media from Lancaster University, and went on to become a freelance writer and blogger. Emily contributed to The Sunday Times Travel Magazine and Student Problems before becoming a journalist at UNILAD, where she works on breaking news as well as longer form features.

Topics: Technology, cryptocurrency, Doge, Dogecoin, Elon Musk, Investment, Now, stocks