If You Invested $1,000 in Dogecoin on January 1, 2021, How Much Would You Have Now

Two years ago, one of the trending topics on social media was Dogecoin. doge/usdA meme cryptocurrency.

In 2022, Dogecoin saw less volatility, resulting in fewer mentions on social media amid a cryptocurrency bear market that was exacerbated by the bankruptcies of many Cryptocurrency platforms like FTX.

What happened: In 2021, Dogecoin became one of the biggest stories in crypto, with retail investors actively trading and discussing the coin. Public Companies Backing Crypto, Like With Billionaires Tesla CEO Elon Musk And Mark Cuban.

In 2022, Dogecoin failed to continue its breakout and traded in the range of $0.04972 to $0.2032.

Cryptocurrencies See Multiple Spikes in 2022, Including Some Notable Moves Related to musk twitter acquisition And expects integration with social media platforms.

Dogecoin hit an all-time high of $0.7375 in May 2021, which came around the time Musk was the special guest host of an episode of “Saturday Night Live.” Investors who bought into Dogecoin shortly before the episode aired, or in late 2022, could bottom out at their current positions.

Here’s a look at how early stage investors fared in early 2021, when Dogecoin was a major trending topic.

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Investment in 2021: If you were lucky enough to invest a little money in Dogecoin in early 2021, the cryptocurrency could be one of the best performing assets in your portfolio.

Dogecoin opened January 1, 2021 for trading at $0.00468 and reached a high of $0.005685 on that day. At that time an investment of $1,000 could buy 175,901 DOGE based on the highest price of the day.

A $1,000 investment in Dogecoin would be worth $13,338.57 after two years, based on a price of $0.07583 for Dogecoin at the time of writing.

This represents a notional return of 1,233.9% over the last two years and two months.

At its peak price of $0.7375, a $1,000 investment in Dogecoin would have been worth $129,726.99.

Whether an investor sold during the run-up to the all-time high or is currently holding, if they bought Dogecoin in early 2021, they would be likely to say “very wow”.

Read further: Very wow! If You Had Invested $100 When Elon Musk First Tweeted About Dogecoin, How Much Would You Have Now

Photo: AI generated on Shutterstock

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