Dogecoin ETF Buzz Grows as Holders Celebrate Dogeday 4/20 With New Hope

On April 20, the Dogecoin community once again united to celebrate “Dogeday,” a fan-driven tradition that combines crypto enthusiasm with online culture. Coinciding with International Weed Day, this event, born in 2021, has evolved into a meme-rich movement highlighting the unique identity of Dogecoin holders. But this year’s Dogeday celebration carried a different energy. It wasn’t just about jokes and memes; it was also about potential legitimacy.

The buzz surrounding the Dogecoin ETF filings has added fuel to the meme coin’s momentum. As investors gathered virtually and in-person to mark Dogeday 4/20, many were closely tracking four ETF applications under review, submitted by Bitwise, Grayscale, 21Shares, and Osprey Fund. The combination of internet-driven enthusiasm and increasing regulatory attention has thrown Dogecoin into the spotlight again, despite ongoing criticism about its lack of real-world utility.

The Dogecoin Phenomenon: From Meme to Movement

What makes Dogecoin particularly unique is its tokenomics. It adds approximately 14.4 million new coins into circulation every day, contributing to a daily inflation rate of around $2.16 million. This results in an annual supply increase of roughly 5 billion coins. While many investors view inflation as a red flag, others believe it keeps Dogecoin accessible. Its price remains low, usually under $1, making it an easy entry point for new retail investors.

Dogeday 4/20: More Than Just a Meme Holiday

April 20 has become an unofficial holiday for Dogecoin supporters. What began as a lighthearted celebration of memes and cannabis culture now serves as a marker of Dogecoin’s staying power. Despite constant mockery from traditional finance, the Dogecoin community has remained loyal and loud.

Blockchain expert Anndy Lian explains that Dogecoin’s strength lies in its passionate, internet-savvy following. “The community enthusiasm, low entry barriers, and speculative fun are what drive Dogecoin,” he said. “It’s a coin that belongs to the people, not institutions.” This sentiment was reflected in this year’s Dogeday 4/20 events, which included online campaigns, meme contests, and celebratory videos shared across platforms like X (formerly Twitter) and TikTok.

Anndy Lian: “Unlike Bitcoin or Ethereum, Dogecoin’s inflationary supply ,  adding roughly 5 billion coins annually ,  keeps prices accessible, typically under $1, making it psychologically appealing for retail investors.” (Via @Cointelegraph)

— Anndy Lian (@anndylian) April 20, 2025

Dogecoin ETF Applications: A New Chapter Begins

While the Dogecoin community partied, attention quietly shifted toward something more serious: the possibility of a Dogecoin ETF becoming a reality. Two key applications, from Bitwise and Grayscale, are currently under SEC review, with final decisions expected by October 2025. These are not small players. Both firms have experience in launching crypto-based financial products and could bring a significant wave of institutional interest to Dogecoin if approved.

Meanwhile, ETF proposals from 21Shares and the Osprey Fund are still in earlier stages, awaiting progress on their 19b-4 filings. No decision dates have been set, but the mere existence of these applications signals increasing recognition of Dogecoin’s staying power in the meme coin market.

The SEC’s eventual rulings will be pivotal. If any of these applications are approved, it would mark a major turning point in how Dogecoin is viewed, not just as an internet joke, but as a legitimate crypto asset worthy of investment through traditional markets.

What Lies Ahead for Dogecoin and the ETF Push?

The growing interest in a Dogecoin ETF raises important questions about the future of meme coins. Will institutional money flood in if regulatory green lights are given? Or will Dogecoin remain the quirky, unpredictable rebel of the crypto world?

For now, the Dogecoin community is content celebrating its unique culture and legacy. Dogeday 4/20 proved, once again, that Dogecoin is more than a currency; it’s a movement. And with the SEC’s decision on the horizon, it might soon become more than just a meme.

Whether the ETF filings succeed or not, Dogecoin continues to play a pivotal role in shaping how we understand internet-driven financial movements. From jokes to market charts, from memes to meetings with the SEC, Dogecoin’s journey remains one of the most unpredictable and exciting stories in the crypto world.