Was #DogeDay420 Part of a Pump and Dump?

Elon Musk, the leading cheerleader of Dogecoin, had been accused of a Bitcoin pump and dump in mid-April after Tesla sold 10% of Bitcoin holdings.

Dogecoin

If you are a DOGE lover, you may be wondering whether the #DogeDay420 is part of a pump and dump strategy by the Dogearmy. The day, which falls on April 20, was created as a holiday for the DOGE community. Considering that DOGE launched as a meme currency, it only makes sense that there would be a holiday associated with it.

Interestingly, April 20 is also Elon Musk Day. We all know that Elon Musk is the leading supporter of Dogecoin. The Tesla CEO often creates tweets about Dogecoin, and these tweets usually make the crypto community go abuzz with expectations of higher prices. Some developers have even created bots that buy as soon as Elon Musk mentions cryptocurrencies.

A Strategy by DOGE Lovers

Dogecoin has been doing quite well, all thanks to the support by Elon Musk. The crypto is now trading at $0.66, which is around 20% higher than what was reported the previous day. It had also been doing well in April, save for the market crash that affected the entire crypto market value.

#DogeDay420, just like all other strategies used by the crypto community, is aimed at boosting awareness for the crypto. Because of this day, the Doge community will probably grow, which will increase the value of the crypto.

Nevertheless, this is not to say that DOGE lovers will dump the coin after that. If there is one crypto whose future looks good, it is Dogecoin. The altcoin has been making headlines, and those who hold it may not let go anytime soon as they wait for the value to increase. Besides, who would want to dump a coin promoted by the lead veteran for cryptocurrencies, Elon Musk?

What do you think, will Dogecoin reach $1 by the end of Q2 2021?

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