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The Dogecoin (DOGE) market was the highlight of the month. The OG meme cryptocurrency pocketed major gains following Donald Trump’s victory. DOGE surged by over 167% throughout the past 30 days. After this enormous uptick, the meme coin seems to have slowed down.
Amidst this, several were revisiting DOGE’s growth over the years while reconsidering their past investment. This article dives into the potential growth rate of DOGE if a meager $100 was invested back when Elon Musk first tweeted about the asset.
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How High Is Dogecoin Trading Today?
After witnessing a triple-digit uptick and rising to a high of nearly $0.43, DOGE was seen declining. It should be noted that through this, the meme coin hit a three-year high. At press time, Dogecoin was trading at $0.3828 following a nearly 3% dip over the past 24 hours.
The momentum of Dogecoin is frequently fueled by publicity and excitement. The notable effect on its asset’s price might lessen as the rumors about Elon Musk’s proposed Department of Government Efficiency (D.O.G.E.) and the excitement around Donald Trump’s election victory fade.
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Looking Back At Elon Musk’s First Interaction
Musk has brought about major changes in the dynamics of the cryptocurrency industry. He has particularly influenced the Dogecoin market in more ways than one. But his very first interaction with DOGE occurred back in 2019. Musk responded to a tweet on April 2, 2019, stating, “Dogecoin might be my fav cryptocurrency.”
When Musk first mentioned Dogecoin in a tweet on April 2, 2019, it was trading at $0.002552. An investor would have 39,185 DOGE if they had purchased $100 worth of Dogecoin during that time. This meager investment would have surged to a high of $15,000 at today’s price. While this might not be a lot, it is still a massive uptick from a dainty $100.
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