Dogecoin (DOGE) experienced a significant setback due to the failed test launch of SpaceX's Starship rocket on 20th of April, as well as a drop in the overall crypto market. The rocket, featuring the Dogecoin mascot on its side, disintegrated four minutes after launch, causing disappointment in the Dogecoin community.

However, Elon Musk and other SpaceX employees remained optimistic, cheering for another test in the future. This event followed Musk's recent Twitter stunt where he briefly changed the platform's logo to the Dogecoin mascot. The Dogecoin community had high expectations for the rocket launch.

According to data from Coinglass, despite the decrease in prices, the open interest (OI) volume for Dogecoin futures contracts is still higher than the January 2023 high, at 470 million USD. OI volume refers to the number of open positions in the futures market.

After Twitter changed its logo to a Shiba Inu, the breed of dog used to represent Dogecoin, the OI volume for Dogecoin spiked to a yearly peak of 580 million USD. This logo change created significant volatility for the DOGE/USD pair, which rose by over 21% to a new yearly peak of 0.10 USD. However, both the price and OI volumes decreased considerably after the social media platform reverted to its original blue bird logo.

Sources: 

https://www.investing.com/news/cryptocurrency-news/dogecoin-price-limps-below-a-key-support-after-dogeday-turns-into-a-sellthenews-event-3062216

https://cointelegraph.com/news/dogecoin-price-limps-below-a-key-support-after-dogeday-turns-into-a-sell-the-news-event

https://www.advfn.com/stock-market/COIN/DOGEUSD/crypto-news/90829481/dogecoin-price-limps-below-a-key-support-after-dog