DogeDay 4/20 Memes Erupt as Dogecoin Investors Celebrate Cryptocurrency

Dogecoin investors are sharing jokes and memes to celebrate "Doge Day" on 4/20. Investors are hoping that the price of the meme-inspired cryptocurrency will be boosted today, with some aiming for the coin to reach $0.420, or $0.69. More ambitious investors are hoping it will reach $1.

April 20, or 4/20, is more widely known as "Weed Day," but DogeCoin investors are hoping to rebrand the day as "DogeDay."

At the time of writing, the price of DogeCoin is $0.416098, and according to Coindesk, the cryptocurrency had seen a spike of more than 11 percent in the last 24 hours.

Sharing jokes and memes on social media is an apt way for investors of a currency to communicate. There was also a spike in Dogecoin memes in January amid the GameStop shares boom, as Dogecoin investors hoped for similar success.

Now, on 4/20, the #DogeDay hashtag is currently trending third on Twitter in the U.S., behind "Happy 420" and #420Day, thanks to DogeCoin investors rallying on social media by sharing jokes and memes.

Ben Baller shared a GIF of a man with the Doge meme for a head throwing cash and said: "HAPPY #DOGEDAY everyone! Just know that BB loves you all #DogeArmy"

Twitter user @OnlyDoge shared a meme of a Shiba Inu head emerging from a cloud of dust with the caption "DogeDay 4/20" and said: "We become LEGENDARY today. #DogeDay"

Twitter user @itsALLrisky shared the "Bro Explaining" meme and said: "Yeah it's called #Dogecoin it's a dog-themed cryptocurrency and it's for the people, it's decentralized and coins are issued at a fixed rate, nah the top wallet is Robinhood so the whale is retail investors, @ElonMusk is a big fan, we're going to the moon' #DogeDay #420day #DOGE"

Max De Gillo shared an image of Elon Musk holding the doge meme dog while a rocket heads to the moon in the background and said: "This meme is actually so clean! #DogeDay #DogeDay420"

Although DogeCoin may be seen as a joke currency, major companies are showing support for the digital coin on DogeDay.

Mars brands Snickers and Milky Way have both shown their support for DogeCoin, with the former tweeting "Guess what day it is? #DogeDay. Tomorrow? #DogeDay420," and the latter tweeting: "CONGRATS TO THE #DOGEARMY FOR MAKING #DogeDay TREND. @DogecoinRise to the Milky Way not just the Moon!"

On Monday, online retailer Newegg announced that it now accepts the cryptocurrency as payment on its website. It described Dogecoin as "popular" and hailed the "excitement and momentum" building around cryptocurrencies.

Newegg joins a list of companies accepting DogeCoin as a valid currency, including Dallas Mavericks, airBaltic, and Post Oak Motor Cars.