If you had invested $100 in Dogecoin at the time Elon Musk first tweeted about the coin in 2014, you would have seen an extraordinary increase in the value of that investment.
Context of Elon Musk's First Tweet:
Elon Musk began interacting with the Dogecoin community on Twitter more prominently in 2018, but his first notable tweet about the currency was in 2014. At that time, Dogecoin was still a “memecoin,” a currency based on an internet meme , without a clear proposal for use or valorization.
Valuation Scenario:
• Value of Dogecoin in 2014: In 2014, the price of Dogecoin was around $0.0002 (two tenths of a cent).
• Current Value of Dogecoin: In 2021, when Dogecoin reached its highest valuation, it reached $0.70 per unit, with temporary peaks well above that.
Investment Calculation:
• If you invested $100 in Dogecoin in 2014 when the price was $0.0002:
• $100 / $0.0002 = 500.000 Dogecoins.
• If you held this investment until the 2021 peak when the price reached $0.70:
• 500.000 Dogecoins x $0,70 = $350.000.
Therefore, $100 invested in Dogecoin in 2014 could have become $350,000 at its peak in 2021, representing a 350,000% increase in the value of your investment.
Conclusion:
This example illustrates how Elon Musk’s endorsement and the growing community interest in Dogecoin, often fueled by his Twitter posts, can have surprising results. Of course, the cryptocurrency market is highly volatile, and Dogecoin’s rise has been accompanied by periods of great instability, but for those who invested early and held on, the returns have been impressive.
