Dogecoin (DOGE) fans on social media are gunning for the theme-centric cryptocurrency to hit 69 cents on Tuesday, April 20, which some are declaring to be the "Doge Day."
What Happened: The Shiba Inu-themed cryptocurrency, often a subject of tweets by Tesla Inc TSLA CEO Elon Musk, is experiencing a social media push.
A post on the Reddit forum r/Dogecoin also asked as “many people as possible in designing memes and graphics to rebrand 420 as doge day.”
See also: How to Buy Dogecoin (DOGE)
“$1 is inevitable, and we can take a pit stop at the moon, sure, but our lord and savior doge ought not be limited by such small goals,” wrote u/oracleofdoge.
DOGE has risen 6,932.93% so far this year beating the year-to-date returns of Bitcoin (BTC), which gained 95.41%.
DOGE traded 22.14% higher at $0.35 at press time. BTC traded 0.26% higher at $57,251.37.
Why It Matters: The reference to 4/20 is significant as Musk often mentions the number and is more prominently associated with Cannabis. Recently, Musk demanded 420 million DOGE from the artist Beeple for an NFT song on non-fungible tokens but later changed his mind.
According to LunarCrush, which measures social listening for cryptocurrencies, Social Dominance for DOGE was at 31.23% on Sunday and has eclipsed BTC’s 30.4% number.
Here we go again? $DOGE Social Dominance is accelerating today with a current 31.23% share of all social mentions across all of crypto, eclipsing current $BTC social dominance of 30.4%. https://t.co/Cwwlyk4jgw #dogecoin pic.twitter.com/f8nSA4LZ6y— LunarCRUSH Social Listening for Cryptocurrencies (@LunarCRUSH) April 18, 2021
Musk has not recently made any reference to either DOGE or 4/20, but one of his recent tweets broached the subject of sending “Everything to the moon!”
Everything to the moon!— Elon Musk (@elonmusk) April 17, 2021
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