Dogecoin drops 20 percent despite fans' 'Doge Day' attempts to push up price

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Twitter and Reddit were filled with memes this week but the online hype seemingly failed to sent the coin to the moon.

remains the top crypto. For comparison, a single bitcoin is currently priced at more than $55,000.

In a financial note on April 20, Edward Moya, senior market analyst for the brokerage Oanda, echoed the stance that price hype may have differed from the reality. "Some were eyeing $0.50 as an area to take profit, with others having outlandish hopes of a skyrocketing move to the $1 mark. Current retail fervor probably won't completely give up on dogecoin, but a sell-the-event reaction could be in the cards."

 

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