If You Invested $100 In Dogecoin When The Meme Coin Launched, Here’s How Much You’d Have Today
Started as a joke in 2013, meme cryptocurrency Dogecoin (CRYPTO: DOGE) remains one of the most valuable and talked-about cryptocurrencies today. Crypto and other coins in the sector have soared after Donald Trump won the 2024 presidential election, ushering in a potentially more crypto-friendly administration.
What Happened: Dogecoin was created in 2013 by Jackson Palmer and Billy Markus. The coin, meant to be a satirical coin to mock Bitcoin (CRYPTO: BTC), has gained support from a loyal community.
Palmer bought dogecoin.com and connected with Markus, who had previous experience with altcoins. The duo made the coin in just a couple of hours, spending much of the time changing the font of the coin to Comic Sans.
The cryptocurrency was based on the iconic Doge meme that stars Kabosu, a Shiba Inu dog. A profile for Dogecoin was created on Bitcointalk.org on Dec. 6, 2013, and a subreddit for Dogecoin (r/Dogecoin) was created on Dec. 8, 2013. The coin opened for trading on Dec. 15, 2013.
One of the coin’s first uses was as a tipping bot on Reddit, and the price of Dogecoin went from around $0.0002 to $0.002 in two weeks, providing significant returns for early investors. The coin saw a rise in 2017 alongside other altcoins before falling in price by the end of 2018.
Elon Musk, CEO of Tesla, has been one of the biggest public supporters of Dogecoin. Musk’s tweets and support have led to several price spikes for Dogecoin, with some believing the coin will be integrated into his social media platform X.
In 2021, Dogecoin hit all-time highs, possibly triggered by Musk’s appearance on “Saturday Night Live.” Musk’s call to be in charge of the Department of Government Efficiency (D.O.G.E.) under Trump has further boosted Dogecoin’s price.
Mark Cuban, billionaire and NBA team owner, has also been a vocal supporter of Dogecoin. The Dallas Mavericks previously accepted Dogecoin for merchandise and tickets.
Retailers and websites have begun accepting Dogecoin as a form of payment due to its popularity, and cryptocurrency exchanges like Coinbase and eToro have added Dogecoin to their platform.
Investing $100 in Dogecoin on Dec. 15, 2013, could have purchased 334,112.93 DOGE, which would be worth $119,545.06 today based on the current price of $0.3578. Dogecoin reached an all-time high of $0.7376 in May 2021, making the hypothetical $100 investment worth $246,441.70 at that time.
While Dogecoin may not trade near its all-time highs set in 2021, early investors are still enjoying strong returns. The current price rally following a Trump victory and Musk’s influence on D.O.G.E. may continue to put Dogecoin in the spotlight.
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