Here’s How Much $1,000 Invested In Dogecoin Would be Worth If You Invested When Elon Musk First Tweeted About DOGE

Here’s How Much Investing $1,000 In Dogecoin Would Have Been Worth If You Invested When Elon Musk First Tweeted About DOGE.

More than five years ago, Elon Musk first posted about Dogecoin (DOGE) on social media. Since then, the token has grown in popularity, reaching every corner of the internet and garnering tens of billions of dollars in investment. The first posts about DOGE appeared seemingly out of nowhere but had a huge impact on the price. Let’s take a look at what would have happened if you had the foresight to invest when Musk first tweeted about DOGE.

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Musk on April 2, 2019 Published on X, “Dogecoin might be my favorite cryptocurrency. Pretty cool.” The post has only received 11,000 likes to date; That’s a small fraction of the hundreds of thousands of likes Musk will regularly receive in 2024. But this small, innocent post will spark a memecoin revolution.

At the time of the tweet, DOGE was worth approximately $0.003, or less than 1/30 of a cent. However, at the highest level in May 2021, the price of DOGE reached $0.7376. This represented an increase of approximately 24,500% in just over two years. So, if you invested $1,000 in DOGE on April 2, 2019, it would be worth $245,860 at the 2021 high.

DOGE’s price has since dropped to around $0.16. But that’s still an increase of over 5,000% from Musk’s initial tweet, and a $1,000 investment is now worth over $50,000. This represents a compound annual growth rate (CAGR) of over 120%.

Trend: Dogecoin millionaires are on the rise – Investors with more than $1 million in DOGE have emerged!

Musk played a big role in DOGE’s success. Although the initial tweet did not have much of an impact on the price, Musk continued to post about DOGE over the next few years, helping to raise awareness about the token. In 2021, DOGE came into its own, exploding on social media and experiencing exponential growth. In 2022, Tesla began allowing customers to pay with DOGE for certain products (mostly commercial products). This announcement also provided a small boost to the DOGE price.

Most recently, in March 2024, Musk said, “We must make it possible,” when asked about the possibility of purchasing a Tesla car with DOGE during his visit to the huge factory in Berlin. Additionally, Musk’s social media platform X is in the process of securing payment licenses in US states and potentially offering DOGE payments on the platform.

Musk played a pivotal role in helping DOGE become not only the biggest meme coin but also one of the largest cryptocurrencies. Musk has made huge gains since he started posting about the token, gaining tens of billions of dollars in market capitalization and being larger than nearly half the companies in the S&P 500. Musk doesn’t seem to be done with DOGE either. he has the potential to continue incorporating this into his many business ventures.

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