Millions Celebrated Dogeday — But Dogecoin’s Price Barely Moved!

Updated

April 21, 2025

Gambar Millions Celebrated Dogeday — But Dogecoin’s Price Barely Moved!

Jakarta, Pintu News – On April 20, Dogecoin fans around the world united to celebrate Dogeday, a community-driven celebration in honor of the world’s most famous meme coin.

While the celebration successfully showcased community loyalty and cemented Dogecoin’s place in popular culture, the euphoria was unable to drive any meaningful price movement in the market.

So, how is the Dogecoin price moving today?

Dogecoin Price Rises 1.12% in 24 Hours

On April 21, 2025, Dogecoin (DOGE) saw a modest uptick, rising 1.12% over the past 24 hours to trade at $0.1609, or approximately IDR 2,698. During the day, DOGE hit a low of IDR 2,577 and peaked at IDR 2,709.

At the time of writing, Dogecoin’s market cap stands at around $23.89 billion, with trading volume rising 70% to $805.05 million within 24 hours.

Dogeday Fails to Boost Dogecoin Price, Traders Liquidate $2.8 Million

Instead of getting a boost of positive sentiment, Dogecoin was the worst performing asset among the top 20 cryptocurrencies in the last 24 hours on April 20, 2025.

Based on data from BeInCrypto, the price of Dogecoin fell by more than 2.5% during the period, while the crypto market in general moved relatively stable.

This disappointing performance led to the liquidation of around $2.8 million, with most of the losses – more than $2 million – incurred by traders who went long in the hope that Dogecoin’s price would rise, according to data from Coinglass.

Despite Weakening Price, Dogecoin Remains an Important Player in the Crypto World

While Dogecoin’s price movements have not been particularly encouraging, its presence in the crypto ecosystem remains indispensable. Launched in 2013 as a parody of Bitcoin , DOGE has now evolved far beyond its origins as a mere meme.

Currently, Dogecoin ranks as the ninth largest crypto by market capitalization, with a value of approximately $23.89 billion, according to data from CoinMarketCap (4/21/25).

Dogecoin’s growth has been fueled by support from big names. Tesla CEO and advisor to the president of the United States, Elon Musk, as well as billionaire entrepreneur Mark Cuban, have publicly shown their support for DOGE.

This support helped change the public’s view from seeing Dogecoin as a joke to a legitimate digital asset and payment alternative.

Institutional Interest in Dogecoin Grows Stronger

On social media, Dogecoin remains the center of conversation in the memecoin category. According to a report from CryptoRank, DOGE has been the most mentioned memecoin on X (formerly Twitter) over the past month.

With only ~$150M market cap, $DOG landed among the most hyped meme coins on X.

Other viral contenders include $FARTCOIN, $TRUMP, and $SPX, as well as the OGs $DOGE and $SHIB.

According to X Radar, these are the most mentioned meme coin tickers on X over the past 30 days: pic.twitter.com/XbgTKGoUWX
— CryptoRank.io (@CryptoRank_io) April 18, 2025

This popularity continues to drive community engagement and increase investor interest in Dogecoin.

In addition to community support, institutional interest in Dogecoin is also on the rise. A number of large asset managers such as Bitwise, Grayscale, 21Shares and Osprey have filed paperwork with the United States Securities and Exchange Commission (SEC) to launch a spot Dogecoin ETF.

If approved, this investment product will be the first ETF entirely focused on meme-based coins.

Given this development, crypto gamblers on the Polymarket platform estimate the chances of such an ETF being approved at more than 55% this year. This optimism reflects the growing belief that Dogecoin will soon find a place in mainstream financial markets.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

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