4/20 means Doge Day! For Dogecoin Day 2022, we have prepared a special little prayer for better times ahead. Read more!
Every April 20, the crypto world celebrates Dogecoin Day. To remind us of the less serious origins of Dogecoin, the community chose this date to honor the 420 memes. But you don’t need to get excited to have fun with Doge, so…what can we expect for Dogecoin Day 2022?
Let’s ask Doge’s inventor:
That doesn’t sound too upbeat. But the truth is that since Doge Day 2021, Dogecoin has had a brutal twelve months. Shortly after Doge Day, the price hit its all-time high but has lost 80% of its value since.
But why did that happen?
First of all, Dogecoin’s mascot, Elon Musk, is now busy with other things like trying to buy Twitter. So he has less time and interest in DOGE. But even before that, Elon lost a lot of his price-pumping magic.
Second, Dogecoin has lost a lot of its memecoin appeal. After the incredible run in 2021, many copycats (or shall we say copydogs) appeared and the money started flowing into other coins. The most well-known, of course, is Shiba Inu (SHIB). SHIB has pulled in a lot of Dogecoin’s former fans, so it is becoming increasingly difficult for the original to stay ahead. And even though SHIB has also lost a lot of its value since the all-time high, it is still in better shape than DOGE.
Finally, Dogecoin is just not innovating. Where Shiba Inu has come up with new products like a Shiba stablecoin, a Shiba DEX, and even a Shiba layer-two, Dogecoin has nothing comparable. Its founder had the following proposal for DOGE:
Maybe Dogecoin should go back to its roots. Maybe it needs innovation. But it definitely needs to do something to stay relevant in the crazy-fast crypto world.
So let us sit down and pray for Doge. May the memes bless us with another year of laughter and hopefully a better future for all DOGE holders.
Our Doge, who art in heaven, hallowed be thy meme;
thy Dogecoin standard come;
thy will be done on earth as it is in heaven.
Give us this day our daily gain;
and forgive us for use of leverage, just as we forgive those who don’t hold DOGE.
And do not lead us into temptation, but deliver us from SHIB.
Because the meme is yours,
the jokes and the profits,
for ever and ever.