20-04-2021 – Doge Day! In his day, Dogecoin has to go up 150% from the current price to reach a dollar.
It is almost impossible to predict when, how, if, or when a specific cryptocurrency will fire. No one could ever imagine that the Dogecoin cryptocurrency would get where it is now, but there are some aspects that are a little easier to understand, such as the fact that the cryptocurrency market could somehow appreciate after the most popular US brokerage was listed on the stock exchange.
But who imagined that Dogecoin would reach $ 0.10 a day?
Or worse, what kind of maniac could imagine that the digital asset could reach the bizarre $ 0.40 mark?
Why is the value unimaginable? Dogecoin is a coin made as a joke, has infinite supply, and was made to be nothing more than a joke. It has no technical foundation. What is happening to the asset is a phenomenon in the universe of memes.
Despite that, the currency shot up more than 15,000% in the span of a year and took everyone by surprise – except for Elon Musk, who tweeted days before anything went to the moon (a term used in the crypto market when a currency is going to go up).
The billionaire did not specify what currency he was talking about, but now we can say for sure that it was DOGE.
What is Doge Day?
The Shiba Inu dog-faced currency now has a market capitalization of 50 billion dollars.
Although 99.9% of market experts point out that it is in a bubble, that its price is not sustainable and that it will collapse, now dog lovers want to bring the asset to US$1 dollar.
The date? This Tuesday, 20/04, in what is being called DOGE DAY (Doge’s Day).
The date 4/20 – American format – is an unofficial holiday that celebrates marijuana, the term “420” is often used in the United States to refer to cannabis smoking.
Devout fans of the digital asset are getting together to push the currency in any way to at least US$0.69.
April 20 is not just a special ‘pothead’ date, but some also consider it “Elon Musk Day”, because it is supposed to be the billionaire’s favorite day of the year as he invested in this cryptocurrency before.
If you’re lost, here’s an image to refresh your memory:
Will Dogecoin reach a dollar?
It is practically impossible to know with certainty whether the asset will reach the dollar mark. The type of event that will take place, which is supported by various celebrities and companies may indeed help the currency appreciate, but given the supply of cryptocurrencies – 129 billion DOGEs – the asset would have to earn an additional $ 80 billion in market value .
Dogecoin has to go up, therefore, 150% from the current price to reach the target.
The truth is that no one knows where Dogecoin is going. What we do know is that anything can happen in the world of cryptocurrencies and memes. The two met and it looks like it matched.
Dogecoin, despite being a joke, would have been important in any investor’s portfolio. The currency has been rising since mid-2020 and has appreciated by almost 8,000% this year.
This means that anyone who invested $ 500 in assets in early 2021 now has about $ 40,000.
However, it is worth remembering, Dogecoin is a joke and should not be considered a serious investment. Therefore, any invested value can be lost in the blink of an eye.
Far beyond a bunch of lunatics saying they are going to pour $ 420 into the digital asset, several people believe Elon Musk will make some kind of DOGE-related announcement tomorrow.
In addition, some popular companies are endorsing the date, even the chocolate brand SNICKERS has made a publication about the digital asset.
Despite the event, it is always a good idea to conduct your own research and not make financial decisions based on memes that you saw on Twitter. In the social network, there are already tons of images spreading with reference to #dogeday.
What we have left is to see the memes and wait for the moment.
Are you a Dogecoin holder or investor?
What do you think about this Doge Day?
Tell us about it in the comments below.
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