What Is Dogecoin Day? DOGE Price Could Hit $1 On April 20

What started as a meme cryptocurrency is now a sensation. And on Tuesday, Dogecoin will have its own holiday.

With an astonishing surge in the past week, supporters of Dogecoin are marking April 20 as a celebratory holiday, dubbed Doge Day. The event hopes to see the cryptocurrency hit a high of $1 from just $0.90 last week.

Traders said they started promoting “Doge Day” after seeing a new advertising campaign from Slim Jim on Twitter, Fortune noted.

The packaged meat brand, which frequently uses memes to create buzz online, said it planned to launch "DogeSlimJim" and asked the “DogeArmy” to spread the word. Notably, its account was plastered with memes of the Shiba Inu dog, the meme which inspired the creation of Dogecoin.

In anticipation of the event, "DogeDay" was a top trending topic on Twitter. As of this writing, "Doge420" is the top 5 trending topic.

Several posts have encouraged users to invest in the rising cryptocurrency. Big brands like chocolate brand Snickers have also joined the movement, tweeting about Dogecoin.

Dogecoin has already made headlines for hitting several financial landmarks that didn’t seem plausible at first. The coin, which for over seven years was only priced at $0.05, has surged by 18,450% in just a year, Coinbase data shows.

Its market value has reached an all-time high of $50 billion, making it even bigger than Ford or Marriott. If it hits its target on Dogecoin Day, it could even outpace the growth of some blue-chip companies, like Advanced Micro Devices Inc., CVS Health Corp. and General Motors Co.