If You Invested $1,000 In Dogecoin When Elon Musk Said “One Word: Doge,” Here’s How Much You’d Have Now

One of the outstanding supporters of meme cryptocurrency Dogecoin DOGE/USD over time has been Tesla CEO Elon Musk.

Musk’s first point out of Dogecoin got here in 2019 and lots of extra references appeared in 2020 and 2021.

Right here’s a take a look at the efficiency of the cryptocurrency after one in all Musk’s most well-known Dogecoin-related tweets.

What Occurred: Musk’s historical past with Dogecoin on Twitter dates again to April 2, 2019. Musk replied to a tweet by saying, “Dogecoin is perhaps my fav cryptocurrency. It’s fairly cool.”

The response got here to a ballot that noticed Musk the winner of the fictional title of CEO of Dogecoin.

Musk’s first tweet about Dogecoin that wasn’t a reply got here on July 17, 2020, when Musk shared a meme of Dogecoin passing the worldwide monetary system saying, “It’s inevitable.”

Whereas Musk tweeted a number of instances about Dogecoin in 2020, one of many extra well-known mentions was on Dec. 20, 2020, when Musk tweeted “One Phrase: Doge.”

The tweet has over 207,000 likes and greater than 23,000 retweets. Dogecoin had a 2021 to recollect, hitting all-time highs and trending as one of the talked-about subjects worldwide.

The coin’s value went from $0.0047 to $0.1705 from begin to end in 2021, hitting all-time highs of $0.7376 in Could 2021.

Musk supported Dogecoin with tweets and had a number of of his firms together with Tesla settle for the cryptocurrency for cost on merchandise.

Associated Hyperlink: How To Purchase Dogecoin 

Investing $1,000 in Dogecoin: The value of Dogecoin hit a excessive of $0.004678 on Dec. 20, 2020, when Musk shared one in all his extra well-known tweets in regards to the meme cryptocurrency.

Dogecoin usually noticed spikes in 2020 and 2021 when the Tesla CEO talked about the cryptocurrency.

A $1,000 funding in Dogecoin on Dec. 20, 2020, may have bought 213,766.57 DOGE. That Dogecoin can be value $18,783.67 as we speak, primarily based on a value of $0.08787 for Dogecoin on the time of writing.

Dogecoin hit an all-time excessive of $0.7376 in Could 2021. The Dogecoin funding from the day of Musk’s 2020 tweet would have been value $157,674.22 on the crypto’s peak value.

Whereas Musk mentioned there was just one phrase, anybody who invested in Dogecoin in December 2020 may need a number of phrases for describing the return on their funding, together with, “A lot WOW!”

There isn’t any assure that Dogecoin will commerce larger sooner or later. As proven above, the meme cryptocurrency can usually commerce in response to tweets from Elon Musk, who’s the second most adopted individual on Twitter.

Learn Subsequent: Unique: Wait Dodgecoin Or Dogecoin? Many Individuals Do not Know The Distinction 

Picture: Courtesy of Dunk on flickr