Dogecoin enthusiasts around the world are celebrating “Dogeday” on April 20 as they eagerly anticipate the upcoming deadlines for Dogecoin-related exchange-traded fund (ETF) applications. Dogeday has become an unofficial holiday for the Dogecoin (DOGE) community, gaining popularity four years ago during International Weed Day. Despite being considered a joke token, Dogecoin remains the eighth-largest cryptocurrency with a market capitalization of $23.3 billion, as reported by CoinMarketCap. Critics often point out Dogecoin’s inflationary tokenomics, which introduce 14.4 million new DOGE into circulation daily with an inflation rate exceeding $2.16 million. Anndy Lian, an intergovernmental blockchain expert, attributes Dogecoin’s appeal to its community-driven enthusiasm, low entry barriers, and speculative nature. The token’s inflationary supply of roughly 5 billion coins annually keeps prices low, making it attractive to retail investors. The meme-driven branding of Dogecoin also resonates with younger, internet-savvy investors, further enhancing its popularity. Memecoins like Dogecoin typically rely on social media traction and retail hype rather than underlying blockchain use cases for value. Dogecoin’s community is now eagerly awaiting the US Securities and Exchange Commission’s decision on several Dogecoin-related ETF applications, including those from Bitwise, Grayscale, 21Shares, and Osprey Fund. The SEC’s response to these applications is expected in May, with Grayscale’s ETF application due for a decision on May 21. Bitwise’s application could also receive a response on May 18, while 21Shares and Osprey’s filings are still under review with no specific deadline set by the regulator. The Dogecoin community is anxiously watching these developments as they could significantly impact the future of the popular memecoin.