Dogecoin enthusiasts across the globe commemorate \u201cDogeday\u201d on April 20, as the memecoin\u2019s community anticipates imminent deadlines for Dogecoin-associated exchange-traded fund (ETF) submissions.<\/p>\n
Dogeday<\/a> signifies the unofficial celebration of the Dogecoin (DOGE<\/a>) community. It gained popularity within the memecoin circles four years back, in 2021, coinciding with International Weed Day on April 20.<\/p>\n In spite of its status as a humorous token, Dogecoin holds the position of the eighth-largest cryptocurrency by market capitalization, presently valued at $23.3 billion, as per<\/a> CoinMarketCap.<\/p>\n Critiques have often emerged regarding Dogecoin\u2019s tokenomics for introducing 14.4 million DOGE daily into circulation, resulting in a daily inflation figure exceeding $2.16 million.<\/p>\n Related: <\/strong><\/em>Altseason 2025: \u2018Most altcoins won\u2019t survive,\u2019 CryptoQuant CEO states<\/strong><\/em><\/a><\/p>\n The durability of Dogecoin \u201coriginates from a combination of community-driven passion, minimal entry barriers, and speculative allure,\u201d stated Anndy Lian, author and intergovernmental blockchain authority.<\/p>\n Lian further mentioned that Dogecoin\u2019s inflationary tokenomics may also enhance its retail allure, adding:<\/p>\n \u201cIn contrast to Bitcoin or Ethereum, Dogecoin\u2019s inflationary supply \u2014 which introduces about 5 billion coins each year \u2014 maintains prices accessible, usually under $1, making it mentally attractive for retail investors.\u201d<\/p><\/blockquote>\n \u201cThe appeal to retail consumers is heightened by Dogecoin\u2019s meme-centric branding, which connects well with younger, internet-literate investors,\u201d Lian elaborated.<\/p>\n Related: <\/strong><\/em>Solana, XRP ETFs could draw billions in fresh investments \u2014 JPMorgan<\/strong><\/em><\/a><\/p>\n Memecoins like Dogecoin typically lack foundational blockchain use cases and generally surge based solely on social media influence and retail enthusiasm.<\/p>\n In November 2024, Dogecoin eclipsed Porsche\u2019s<\/a> market capitalization, fueled by ongoing social media endorsements from billionaire Elon Musk<\/a>.<\/p>\n The Dogecoin community is attentively observing the US Securities and Exchange Commission as it deliberates on multiple DOGE-related ETF applications.<\/p>\n There are four Dogecoin ETF filings pending approval: the Bitwise Dogecoin ETF, the Grayscale Dogecoin ETF, the 21Shares Dogecoin ETF<\/a>, and the Osprey Fund Dogecoin ETF.<\/p>\n Grayscale\u2019s ETF application is expected to receive a decision on May 21 following the SEC’s postponement<\/a> of its judgment on numerous crypto ETF filings.<\/p>\n Bitwise\u2019s submission may receive a response by May 18, which concludes the SEC\u2019s 75-day initial review timeframe after the 19b-4 filing. However, the 240-day review period could allow the regulator to postpone its decision until October 2024 for both filings.<\/p>\n The ETF submissions from 21Shares and Osprey are still awaiting review for their initial 19b-4 filings, with no specified deadline from the securities regulator.<\/p>\nThe Dogecoin community anticipates DOGE ETFs deadline in May<\/h2>\n