Dogecoin community celebrates Dogeday (20/4) with hope for SEC approval of Dogecoin ETF, opening doors for traditional investment capital.
On April 20, Dogecoin holders worldwide are enthusiastically celebrating "Dogeday" – an annual event marking the community's connection and loyalty to the most iconic meme cryptocurrency. This year's celebration is even more special with increasing expectations about Dogecoin ETF approval.
The term Dogeday became popular in 2021, linked to April 20 – also known as "International Weed Day" – which has long carried a countercultural spirit. Since then, the Dogecoin community has transformed this day into an annual occasion to show support, share memes, and honor the cryptocurrency's development milestones.
Dogecoin ETF – A New Gateway for Traditional Investment Capital
Although meme culture and celebration remain the focus of Dogeday, this year's event carries a special significance: expectations of approving the first Dogecoin ETF. Currently, the US Securities and Exchange Commission (SEC) is reviewing multiple Dogecoin ETF applications from major asset management companies like Bitwise, Grayscale, 21Shares, and Osprey Funds.
According to the schedule, Grayscale's application has a deadline on May 21, while the decision on Dogecoin ETF could come as early as May 18, although the SEC retains the right to delay until October. Applications from 21Shares and Osprey are still awaiting official response.
If approved, the Dogecoin ETF would enable traditional investors like pension funds and banks to access Dogecoin through the stock market, opening up significant new capital for this meme coin market. After the SEC approved the first Bitcoin spot ETF in January 2024, many in the crypto world remain cautiously optimistic that Dogecoin could be the next name.
Created in 2013 as a satirical Bitcoin product, Dogecoin has now become the 8th largest cryptocurrency by market capitalization, with a valuation of around $23.3 billion, according to CoinMarketCap data.
Experts note that Dogecoin's core strength comes from its loyal user community. The mechanism of releasing about 5 billion new coins annually keeps Dogecoin at a low price, making it easy for small investors to own large quantities of coins.
"Bitcoin and Ethereum have a fixed supply, while Dogecoin has mild inflation – which allows small investors to hold more," blockchain advisor Anndy Lian commented.
On this year's Dogeday, hashtags like #Dogeday2025 and #DogecoinToTheMoon became trending on social media X. Elon Musk – founder of Tesla and SpaceX – remains the most influential figure for Dogecoin. Musk has repeatedly called Dogecoin the "people's crypto", and each time he tweets about Doge, the price typically surges dramatically.
With near-term ETF expectations, Dogeday providing spiritual momentum, and continued strong media influence from Elon Musk, 2025 could be a pivotal moment for the Dogecoin community. While the market remains uncertain, the $DOGE community is full of hope that the "people's coin" will soon enter a new phase: recognition in the traditional financial market.
