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EveryoneâÂÂs favourite Shiba Inu cryptocurrency just got its own day, because why notâÂÂitâÂÂs 2021.ÃÂ
On Tuesday, aka 4/20, fans of the cryptocurrency used #DogeDay and #DogeDay420 hashtags on social media sites like Reddit, TikTok, and Twitter to declare a special day for the cryptocurrency to drive up its price in celebration.ÃÂ
âÂÂThe timing is impeccable given Dogecoinâs recent rise. Letâs bring Dogecoin to new heights on 4/20!â said a post from Reddit user dngray.
Dogecoin has been making headlines for originating as a joke but is now worth nearly as much as TwitterâÂÂno laughing matter. The joke ended up being on the Doge Army, with the cryptocurrency falling 21% by the end of Doge Day to 34 cents.
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Posts on Reddit Forum r/Dogecoin On Doge Day
DOGE was on the top spot in the list of top ten trending tickers as compiled by Stocktwits.
Why It Matters: DOGE fans on social media colloquially referred to as the “Doge Army” took screenshots of Dogecoin crossing the 420 milestone in the $0.420 levels. The Doge Army has been gunning for the meme-based cryptocurrency to hit 69 cents in the day, but the milestone remains far away.
The social media push is themed around 4/20 a number more popularly associated with cannabis.
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Tesla Inc (NASDAQ:TSLA) CEO Elon Musk often tweets about Dogecoin and has at times mentioned 420 in various contexts.
Dogecoin (DOGE) and several other cryptos are continuing to shoot up.
What Happened: The apex cryptocurrency traded 7.13% lower at $56,528.65 at press time. BTC has fallen 6% over a seven-day trailing period.
Some other cryptocurrencies including DOGE did not follow BTC’s lead and were seen trading in the green at press time.
DOGE was up 6.76% at $0.31.
Neo (NEO) soared 31.29% at $125.44 and
Solana (SOL) shot up 27.06% to $32.16.
Ethereum (ETH) is largely mirroring BTC’s decline and has fallen 11.6% since its Friday highs. As of press time, the second-largest cryptocurrency by market cap traded 4.57% lower at $2,252.33 in a 24-hour period.
Last week, both BTC and ETH hit their all-time highs. BTC and ETC traded 12.52% and 11.55% below those levels at press time.
Meme cryptocurrency
Dogecoin (DOGE) has run up nearly 80% in a 24-hour period and is trading above the psychologically important 10 cent mark.
What Happened: DOGE traded 79.9% higher at $0.13 at press time and has gained over 104.28% on a seven-day trailing basis.
The Shiba Inu-themed cryptocurrency crossed the 10-cent barrier on Tuesday and touched a new all-time high of $0.138 a quarter of an hour before press-time on Wednesday.
For the year, DOGE has soared a spectacular 2,556.81%, outshining gains of the apex cryptocurrency
Bitcoin (BTC) which is up 120.23% in the same period.
BTC traded 6.26% higher at $64,586.52, also touching a new all-time high of $64,717.01 nearly forty minutes before press time.
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