One of the most popular voices behind the meme cryptocurrency that is Dogecoin (CRYPTO: DOGE) is Tesla Inc (NASDAQ: TSLA) CEO Elon Musk. Dogecoin and other cryptocurrency topics are one of the most tweeted about items by Musk, who has over 80 million followers on Twitter Inc (NYSE: NYSE:TWTR).
Tweets from Musk about Dogecoin can often lead to a spike in the price of the meme cryptocurrency.
Here is a look at just how much you would have made if you invested $100 when Musk first tweeted about Dogecoin.
First Tweet: The first time Dogecoin was mentioned on Twitter by Musk was on April 2, 2019. Musk replied to a tweet saying, “Dogecoin might be my fav cryptocurrency. It’s pretty cool.”
The response from Musk was to a Twitter poll that declared Musk the winner as the CEO of Dogecoin with 49% of the vote.
In the poll, Musk beat out Vitalik Buterin, the founder of Ethereum (CRYPTO: ETH), who got 9% of the vote, Charlie Lee, the creator of Litecoin (CRYPTO: LTC), who got 8% of the vote and Marshall Hayner, the founder of Metal, who got 33% of the vote.
Dogecoin might be my fav cryptocurrency. It’s pretty cool.The other starting point for Dogecoin is the first time Musk tweeted about the cryptocurrency on his own. The first Musk tweet about Dogecoin outside of the response was July 17, 2020, when Musk shared a meme of Dogecoin passing the global financial system saying, “It’s inevitable.”— Elon Musk (@elonmusk) April 2, 2019
It’s inevitable pic.twitter.com/eBKnQm6QyFRelated Link: The 7 Most Tweeted Topics By Elon Musk: How Do Tesla, SpaceX, Bitcoin ANd Dogecoin Rank— Elon Musk (@elonmusk) July 18, 2020
Dogecoin Return: Here’s a look at how Dogecoin has performed since the two mentioned tweets by Musk.
Dogecoin traded at $0.002552 on April 2, 2019. A $100 investment could have purchased 39,185 Dogecoin. The investment would be worth $6,081.51 today based on a current price of $0.1552 of Dogecoin.
Dogecoin traded at $0.003084 on July 17, 2020. A $100 investment could have purchased 32,425 Dogecoin. The investment would be worth $5,032.36 today.
Dogecoin has traded between $0.0632 and $0.7376 over the last year.
Musk has helped boost the performance of Dogecoin many times before with tweets about the cryptocurrency, an appearance on Saturday Night Live that included mentions of Dogecoin and the acceptance of Dogecoin as a payment option for Tesla merchandise.
While the potential strongest returns of Dogecoin could be in the past, many believe Musk will continue to support the coin and lead to more gains for the world’s favorite meme coin.
Photo: Courtesy of TED Conference on Flickr
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.