Dogecoin (DOGE) has garnered a name for itself beyond just the crypto market. The “Doge” meme that started an online movement has now gone on to become one of the most recognised mascots in the internet’s history. The meme inspired the creation of Dogecoin in December 2013, the original memecoin. Since its launch, DOGE’s value has risen by a substantial amount. Let’s discuss how Dogecoin has turned early investors into millionaires.
Early Dogecoin Investors Become Millionaires
According to Changelly’s ROI (Return On Investment) calculator, if you had invested $1500 in Dogecoin (DOGE) on Dec. 16, 2013, the investment would have been worth more than $1.1 million today. Your money would have grown by about 74,081%.
Dogecoin (DOGE) hit an all-time high of $0.7316 on May 8 of 2021. The asset is currently down by 63.5% from its 2021 peak. If you had sold your DOGE tokens when the memecoin was at its peak, you would have made more than $2.7 million in profits. In this scenario, your investment would have grown by 184,998.5%.
Can You Still Make It Big With The Original Memecoin?
Dogecoin (DOGE) has struggled to gain substantial momentum over the last few years. The lackluster performance is likely due to the general bearish market environment over the last three years. While Bitcoin (BTC), Ethereum (ETH), BNB, XRP, etc., have hit new all-time highs, memecoins have not had the same luck.
Also Read: Dogecoin’s Rounding Bottom Nears Completion: DOGE Price Eyes $1
Dogecoin (DOGE) is still, nonetheless, expected to surge over the coming years. Many anticipate Elon Musk’s X social media platform to enable DOGE payments in the future. If Dogecoin (DOGE) is accepted on X, the memecoin will likely garner a massive adoption spike. Such a scenario could lead to the memecoin’s price skyrocketing. There is also a DOGE ETF application awaiting approval at the SEC. If a DOGE ETF is approved, the project may see a surge in institutional interest.
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