Elon Musk's tweets have often shaken up markets, but one of the most notable cases was with Dogecoin. When Musk first tweeted about Dogecoin in December 2020, the meme coin was trading at around $0.0046. Many saw this as an internet joke, but those who believed in its potential—and Musk’s influence—could have seen a considerable return.
If you had invested just $100 back then, you’d have purchased roughly 21,739 Dogecoins. Fast forward to Dogecoin's peak price of around $0.73 in May 2021: your $100 investment would have surged to an astonishing $15,869, marking an impressive gain of 15,769% in a matter of months.
While Dogecoin’s price has fluctuated since then, this case shows the power of celebrity influence in the crypto space and how a little belief (and a bit of luck) can turn small investments into massive returns.