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If You Invested $100 When Elon Musk First Tweeted About Dogecoin, Here's How Much You'd Have Now

Published 04/09/2022, 15:17
Updated 04/09/2022, 16:10
© Reuters. If You Invested $100 When Elon Musk First Tweeted About Dogecoin, Here's How Much You'd Have Now

One of the most popular voices behind the meme cryptocurrency that is Dogecoin (CRYPTO: DOGE) is Tesla Inc (NASDAQ: NASDAQ:TSLA) CEO Elon Musk. The CEO has tweeted about the Shiba Inu-themed cryptocurrency many times and often caused spikes in the valuation. The meme cryptocurrency remains one of Musk's favorite topics on Twitter Inc (NYSE: NYSE:TWTR).

Here is a look at just how much you would have if you invested $100 when Musk first tweeted about Dogecoin.

See Also: How To Buy Dogecoin

First Tweet: To get a starting value for Dogecoin, we will look at two price points. On April 2, 2019, Musk replied to a tweet saying “Dogecoin might be my fav cryptocurrency. It’s pretty cool.” The response came to a poll that had 3,581 votes and declared Musk the winner as the CEO of Dogecoin with 49% of the vote.

Musk beat out Viatalik Buterin, the founder of Ethereum (CRYPTO: ETH), who got 9% of the vote, Charlie Lee (@SatoshiLite), 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.

The other starting point is the first time Musk tweeted about Dogecoin, which to this author’s knowledge came on July 17, 2020, when Musk shared a meme of Dogecoin passing the global financial system saying, “It’s inevitable.” Musk even replied to the tweet recently on April 16 with a watching eyes emoji.

Related Link: 'I'm Mainly Supporting Doge': Elon Musk Likes Dogecoin's Memes, Dogs And Sense Of Humor

Dogecoin Return: Dogecoin traded at $0.002552 on April 2 around the time of Musk’s tweet. If you bought $100 in Dogecoin at that time, you would have 39,185 coins. The current value of the $100 investment would be $2,449.85 based on a current Dogecoin price of $0.06252.

Dogecoin traded at $.003084 on July 17 at its highest price. If you bought $100 in Dogecoin at that time, you would have 32,425 coins. The current value of the $100 investment would be $2,027.21.

Price Action: Dogecoin was trading at $0.06252 at the time of writing. Dogecoin hit an all-time high of $0.7376 in May 2021.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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