On “Doge Day,” SEC Commissioner warns Dogecoin traders: “Don’t come complaining to the government if you lose money”

For those of you who have been following Dogecoin, today, April 20, is the day Dogecoin traders set aside as the ‘Doge Day.’ At the time of writing, the #DogeDay hashtag is now trending with over 327,000 tweets.

One Dogecoin fan said on Twitter, “Retweet If You’re Ready For Tomorrow.”

#dogecoin #DogecoinToTheMoon #doge420 pic.twitter.com/RD0Zd9uznJ

— Amer Saadi (@AmerSaadi15) April 19, 2021

Dogecoin started as a joke in December 2013 based on the popular “doge” meme represented by a Shiba Inu dog as its logo, literally taken from the “Doge” meme. Just a week ago. Today, Dogecoin is now the fourth most popular cryptocurrency in the world with a price hovering around $0.37. Just this week, Dogecoin soared 300%, making some Reddit users overnight Dogecoin millionaires. Since then, the price has fluctuated back and forth.

Dogecoin’s market capital has topped $50 billion, making it bigger than Ford or Marriott. Even with all the good news about the sudden rise in the price of Dogecoin, SEC Commissioner Hester Peirce is warning people about what they are investing in.

In an appearance on CoinDesk’s “First Mover,” Peirce reacts to the price surge in Dogecoin. Peirce said:

“Don’t come complaining to the government if you lose money.”

You can watch the video at Coindesk by clicking below.

It’s ironic that on Doge Day, Dogecoin lost 19.62% of its value settling at $0.310529 as of the time of writing.

Meanwhile, the rise of Dogecoin is partly due to support from popular figures like Elon Musk. Last week, Musk, a staunch supporter of Dogecoin, tweeted: “Doge Barking at the Moon,” likely in reference to the popular crypto slang phrase “to the moon.”

Doge Barking at the Moon pic.twitter.com/QFB81D7zOL

— Elon Musk (@elonmusk) April 15, 2021