Benzinga - Investing just $100 in Dogecoin (CRYPTO: DOGE) at its lowest price point in May 2015 would have resulted in significant financial growth, reflecting the coin's substantial increase in value to its current price.
What Happened: Dogecoin's Meteoric Rise With Dogecoin's price hovering around $0.1375, up 10% on Friday, a $100 investment when the coin was at its lowest point would be worth an astounding $1.5 million today.
This represents a staggering 1,531,866.7% increase in value.
Meanwhile, the crypto community on Twitter is alive with discussions about Dogecoin's recent performance.
Bluntz Capital, previously skeptical, acknowledges the coin's bullish divergence signals and is considering adding Dogecoin to their portfolio.
Tesla Model Doge highlighted Dogecoin's current surge towards 14 cents, while Paymeincrypto expressed astonishment at the coin's climb to $0.137 and speculated about it reaching 15 cents by the weekend.
An Elon Musk parody account celebrated Bitcoin's (CRYPTO: BTC) rally and Dogecoin's "ascent to Mars".
Also Read: Is Bitcoin's Bull Run Stumbling? Record Grayscale Outflows Signal Potential Shift
Altcoin Sherpa provided a nuanced analysis, predicting significant numbers for Dogecoin this cycle, despite not expecting it to outperform newer meme coins due to its market cap.
They note Dogecoin's solid consolidation over 600 days and its potential as a good liquidity option, suggesting it could lead the meme coin cycle alongside Shiba Inu (CRYPTO: SHIB).
Future Outlook Dogecoin's established market position and community support suggest it may continue to experience growth.
Despite this, its performance relative to newer cryptocurrencies remains a subject of speculation.
Price Action Dogecoin is currently experiencing a 10% increase over the past 24 hours, trading at $0.1375, according to data from Benzinga Pro.
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