Dogecoin $DOGE , a meme-based cryptocurrency, has experienced huge price fluctuations over the years, largely influenced by Elon Musk's tweets. The recent price increase of DOGE has brought it back to levels not seen since early 2021. But what if you had invested in Dogecoin when Musk first expressed interest? Let's find out.
The first mention of Dogecoin by Elon Musk – The start of the hype
Elon Musk, the billionaire entrepreneur behind Tesla and SpaceX, first publicly mentioned Dogecoin on April 2, 2019. On that day, he replied to a tweet, calling Dogecoin 'the future currency of Earth', and jokingly stated that it was his 'favorite cryptocurrency'. This seemingly harmless comment sparked a surge of interest, drawing attention to the coin inspired by the Shiba Inu dog.
Shortly after, a Twitter poll was conducted where users humorously 'elected' Musk as the CEO of Dogecoin, with him receiving 49% of the votes, surpassing well-known figures like Vitalik Buterin from Ethereum and Charlie Lee from Litecoin. Although it was just a joke, it marked the beginning of Dogecoin's association with Musk, leading to increased price volatility.
"It's inevitable" – The mysterious tweet from Musk that changed everything
Let's skip to July 17, 2020 — Musk posted a meme suggesting that Dogecoin would eventually take over the global financial system. The simple phrase 'It's inevitable' became a rallying cry for Dogecoin believers, sparking a new wave of interest.
Then, in 2022, Musk's purchase of Twitter (now renamed X) fueled speculation that Dogecoin could become an integral part of the platform's payment ecosystem. This further solidified DOGE's reputation as the 'people's cryptocurrency'.
How much would a $100 investment in Dogecoin be worth today?
Now, let's dive into the numbers. Suppose you invested $100 in Dogecoin at key moments in its history. How much would that be worth today?
✅ April 2, 2019 – On this day, the price of DOGE was $0.002431 per coin. If you had purchased 41,125 DOGE with your $100, at today's price of $0.08176, your investment would now be worth $3,361.78. That's a 3,261.8% profit in just a few years.
✅ July 17, 2020 – By this time, the price of Dogecoin had risen to $0.003291. Investing $100 would have given you 30,384 DOGE. Today, with DOGE trading at $0.08176, that investment would now be valued at $2,485.23, reflecting a return of 2,385.2%.
✅ All-time high in May 2021 – At its peak, Dogecoin soared to $0.7376 per coin. If you had held on to your investment from April 2019, your 41,125 DOGE would have grown to $30,343.60. If you had bought in July 2020, your 30,384 DOGE would have reached $22,392.90.
Final thoughts – Is it still worth keeping an eye on Dogecoin?
Elon Musk's influence on Dogecoin is undeniable. Every time he tweets about DOGE, the market reacts. While it remains highly speculative, its integration into the digital payment system X could bring new utility to the token.
For early investors, Dogecoin has become a true financial rollercoaster. The numbers speak for themselves — what started as a meme has turned into one of the most influential cryptocurrencies in the market. As always, past performance does not guarantee future returns, but Dogecoin remains an intriguing example of how social media and celebrity influence can shape the world of cryptocurrency.
Would you still invest in DOGE today? 🚀
