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+ 2.21%
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What Is 'Doge Day' And Why Is It Today?

April 20, 2021 2:05 pm
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What Is 'Doge Day' And Why Is It Today?

The following of popular meme cryptocurrency continues with people circulating today as "Doge Day."

What Happened: Followers and traders of Dogecoin labeled April 20 as Doge Day, a likely nod to the day being the unofficial holiday for marijuana.

Given the popularity of Dogecoin being a meme cryptocurrency and based on jokes, Doge Day coinciding with the official holiday of marijuana.

Why It’s Important: Several companies have latched on to DogeDay as a way to promote their social media followings.

Online tech retailer Newegg Inc announced it would accept Dogecoin as an official payment method. The announcement was timed around Doge Day.

Related Link: If You Invested $1,000 In Dogecoin On Jan. 1, 2021, Here's How Much You'd Have Now 

Mars Inc used Doge Day to promote its Snickers brand with a tweet showing a Snickers bar with a picture of the popular Shiba Inu dog from Dogecoin with hashtags like #dogecoinrise and #dogeday in its tweet. The company also promoted its Milky Way brand by saying Doge could rise not just to the moon but to the Milky Way, a take on traders calling for Doge to go to the moon.

Benzinga was first to report that Webull would roll out Dogecoin trading to all users for Webull Crypto to coincide with Doge Day.

Conagra Brands (NYSE:CAG) has been using Dogecoin memes to help grow its Slim Jim brand's Twitter following. The company announced the launch of Dogecoin NFTs on April 20.

“In honor of Doge Day on 4/20, Slim Jim is taking the Doge philosophy of Doing Only Good Everyday even higher with its first-ever NFT,” the company said.

DOGE Price Action: Dogecoin trades at $0.3533 at the time of writing.

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