As Bitcoin tumbles, Dogecoin fans want to make 'DogeDay' happen on April 20
With the price of Bitcoin slumping over the weekend, fans of the popular spoof cryptocurrency Dogecoin are hoping to make April 20 "Doge Day."
Posts on sites like Twitter and Reddit are urging fans of Dogecoin to celebrate "Doge Day" by buying up the digital coins based on a meme starring a Shiba Inu, a dog breed with a fox-like appearance.
As of Monday morning, the price of Dogecoin was at 37 cents, up 24%, according to the digital currency exchange Coinbase.
"Don't forget to buy your Dogecoin while it's low! Buy and hold. Don't panic sell. Together, we can get Dogecoin to the moon!," reads a post on Reddit from a user who goes by the handle dngray.
The topic #DogeDay is trending on Twitter, with several posts urging support for Dogecoin.
The selection of April 20, or 4/20, is no coincidence. It's also the unofficial holiday celebrating marijuana; the term "420" is often used to refer to the act of smoking it.
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Waking up to see #Doge going to the 🚀 bc #DogeDay420 #DogeDay like:
pic.twitter.com/uUhumIwzCU— Danny Armstrong (@DArmstrong44) April 19, 2021
It is never too late to get into the Doge community.
We support everyone. The individuals joining at $0.42 and just as important to us as the individuals who have been here since $0.004.#DogeDay420 #DogeDay #dogecoin pic.twitter.com/g43f2LSTwt— Eric McLeish (@kinky_rhydon) April 19, 2021
🤪🤑🤪🤑🤡🤡🤣🤣🤣 tomorrow is going to be amazing #DogeDay #DogeDay420 pic.twitter.com/1AxAQhZmh8
— McAlhany (@AlhanyMc) April 19, 2021
Dogecoin, created as a joke poking fun at the rise of digital currency, has soared more than 400% in the past week and skyrocketed by more than 5,000% since the beginning of the year.
Meanwhile, Bitcoin's price dropped 15% late Saturday days after hitting record highs. The plunge was the cryptocurrency's biggest since February.
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Contributing: Jessica Menton. Follow Brett Molina on Twitter: @brettmolina23.
This article originally appeared on USA TODAY: Dogecoin price: As Bitcoin price falls, Dogecoin fans push for Dogeday