Here’s How Much $100 Invested In Dogecoin Would Be Worth Today If You Invested When Elon Musk First Tweeted About It

If You Invested In Dogecoin When Elon Musk First Tweeted, How Much Would $100 Investing Be Worth Today?

Elon Musk (CEO of Tesla and SpaceX) is undoubtedly one of the most influential contemporary figures. Musk’s influence on cryptocurrency, especially Dogecoin (DOGE), is undeniably impressive. Musk’s first DOGE tweet was over five years ago, in April 2019. Since that original tweet, DOGE has taken the financial world by storm, proving to be lucrative for many investors.

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With a market cap of over $15.5 billion, DOGE has earned its place as the most popular meme coin. Here’s how much your DOGE would be worth today if you had invested $100 when Musk first tweeted about DOGE.

On April 2, 2019, Musk posted about DOGE on X (formerly Twitter), saying, “Dogecoin might be my favorite cryptocurrency. Pretty cool.” Musk had nearly 25 million followers when he tweeted this, but his post has only received 11,000 likes to date. Given the cryptocurrency’s lack of popularity in 2019, his post has had little impact on DOGE’s price in the foreseeable future. In hindsight, Musk was driving one of the biggest crypto revolutions ever.

At the time of Musk’s tweet, DOGE was priced at just $0.003 and had a market cap of just $300 million. DOGE remained dormant until early 2021, when it saw its first major rally. In February 2021, DOGE’s price rose by nearly 3,000% to $0.088. But that was just the beginning. DOGE consolidated for months until DOGE began its parabolic run in April. In May 2021, DOGE reached new all-time highs, jumping to $0.7376, an increase of nearly 25,000% since Musk’s first tweet.

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After this peak, DOGE faced a rapid decline and continued this trend until the bear market. DOGE remained quiet until the cryptocurrency’s most recent comeback in early 2024 when it conquered new all-time highs with the help of Bitcoin (BTC) ETF approval. With more fear entering the market recently, DOGE’s current price has fallen by about 56% from its March 2024 peak of $0.228. DOGE is currently at about $0.10, a 3,233% increase since Elon’s first tweet. This means that if you had invested $100 in DOGE when Musk first tweeted, you would currently have about $3,233.

However, it is important to understand the risks associated with crypto. These significant market uptrends and corrections can lead to significant losses just as quickly as they can lead to gains. For example, if you look at how much you would have lost if you had bought DOGE during Musk’s SNL appearance, you would currently be down more than 80%. It is very important to pay attention to market conditions and navigate this unforgiving space with caution.

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Analysts say DOGE has promising aspects that could see it return to all-time highs. Most notably, Musk is the biggest advocate of DOGE, reaching 189.5 million followers on X. Musk’s purchase of Twitter, which was rebranded as X in 2022, has also sparked speculation about DOGE integration for the platform’s payment system. Despite DOGE having minimal utility and falling significantly from its peaks, it remains one of the most talked-about digital currencies and will always have a name in crypto.

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This article, Elon Musk’s First Tweet Reveals How Much $100 Invested in Dogecoin Would Be Worth Today If You Invested In It, was originally published on Benzinga.com

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