Dogecoin enthusiasts around the globe commemorated today as “Dogeday,” an increasingly popular annual tradition that highlights the meme cryptocurrency’s passionate fan base. Celebrated on April 20, this marks the fourth year of expansion for what was initially an online joke turned eighth-largest cryptocurrency by market cap.
Community Spirit Fuels $23 Billion Market Cap
What started as a joke project in 2013 has become a serious money player with a market capitalization of about $23.3 billion, based on Coingecko data.
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Analysts attribute the success of Dogecoin to its robust community. “Bitcoin or Ethereum is capped supply, while inflation in Dogecoin helps small investors carry big bags,” stated Anndy Lian, a blockchain advisor.
The coin introduces around 5 billion new coins annually, maintaining entry fees low for
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