If You Invested $100 In Dogecoin When The Meme Coin Launched, This is How A lot You’d Have At the moment
Began as a joke in 2013, meme cryptocurrency Dogecoin (CRYPTO: DOGE) stays probably the most invaluable and talked-about cryptocurrencies right now. Crypto and different cash within the sector have soared after Donald Trump received the 2024 presidential election, ushering in a probably extra crypto-friendly administration.
Right here’s a have a look at the historical past of Dogecoin and the way a lot fortunate traders who purchased again in 2013 would have now.
What Occurred: Dogecoin was created in 2013 by Jackson Palmer and Billy Markus. The coin was meant to be a satirical coin to mock Bitcoin (CRYPTO: BTC), however over time has gained help from a loyal group.
Palmer purchased dogecoin.com and linked with Markus, who had earlier expertise with altcoins, together with making a coin based mostly on the Bells foreign money within the Animal Crossing online game. The duo made the coin in only a couple hours, with Markus beforehand saying a lot of the time on growth was spent altering the font of the coin to Comedian Sans.
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The cryptocurrency was based mostly on the enduring Doge meme that stars Kabosu, a Shiba Inu canine.
A profile for Dogecoin was created on Bitcointalk.org on Dec. 6, 2013. A subreddit for Dogecoin (r/Dogecoin) was created on Dec. 8, 2013. The coin opened for buying and selling on Dec. 15, 2013.
One of many coin’s first makes use of was as a tipping bot on Reddit.
The worth of Dogecoin went from round $0.0002 to $0.002 in two weeks, marking a big return for early traders.
The coin noticed an increase in 2017 alongside different altcoins earlier than falling in worth by the tip of 2018.
One of many greatest public supporters of Dogecoin over time has been Tesla CEO Elon Musk. A 2019 Twitter publish that elected Musk because the fictional CEO of Dogecoin noticed the billionaire declare “Dogecoin could be my fav cryptocurrency.”
See Additionally: Dogecoin millionaires are growing – traders with $1M+ in DOGE revealed!
Musk has tweeted a number of occasions about Dogecoin since then, and a number of other of his corporations have even accepted the cryptocurrency as cost. Musk’s acquisition of social media platform Twitter, now referred to as X, has led to a number of worth spikes for Dogecoin, with some believing the coin will likely be built-in into the platform.
In 2021, Dogecoin hit all-time highs, a transfer that might have been helped by an look by Musk on “Saturday Night time Stay.”
These days, Musk could have helped increase the value of Dogecoin because of his name to be answerable for the Division of Authorities Effectivity, or D.O.G.E. for brief, beneath Trump.
Over time, one other vocal supporter of Dogecoin has been billionaire and NBA workforce proprietor Mark Cuban. The billionaire disclosed he owned some Dogecoin and had the Dallas Mavericks settle for the cryptocurrency for merchandise and tickets up to now.
Retailers and web sites started accepting Dogecoin as a type of cost because of its reputation. Cryptocurrency exchanges reminiscent of Coinbase and eToro added Dogecoin to their platform because of buyer demand.
Whereas Dogecoin doesn’t commerce close to its all-time highs set in 2021, many early traders are nonetheless having fun with sturdy returns.
Learn Additionally: If you happen to invested $100 in DOGE when Elon Musk first tweeted about it in 2019, right here’s how a lot you’d have right now.
Investing $100 in Dogecoin: On Dec. 15, 2013, Dogecoin started buying and selling, in response to knowledge from Coinmarketcap.
A have a look at the chart on Coinmarketcap reveals a worth of $0.0002993 for Dogecoin on Dec. 15, 2013.
An funding of $100 may have bought 334,112.93 DOGE on the time.
The funding could be value $119,545.06 right now, based mostly on a worth of $0.3578 for Dogecoin on the time of writing.
Dogecoin hit an all-time excessive of $0.7376 in Might 2021. The hypothetical $100 funding would have been value $246,441.70 at the moment.
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What’s Subsequent: Not each cryptocurrency funding will improve in worth, and the hypothetical funding was possible realized by few, if any.
A Trump victory has despatched cryptocurrency costs increased, with Bitcoin making a number of all-time highs all through the present buying and selling week.
Dogecoin hit a one-month and one-year excessive over the past 24 hours with a worth of $0.4359. The cryptocurrency has traded between $0.07028 and $0.4359 over the past yr. The cryptocurrency has did not return to its all-time excessive in recent times, with the present rally the closest the coin has been since then.
Optimism for Trump’s administration and Musk’s position for D.O.G.E. may proceed to place Dogecoin within the highlight.
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This text was beforehand revealed by Benzinga and has been up to date.
Picture created utilizing synthetic intelligence by way of Midjourney.
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