One of the most popular voices behind the cryptocurrency meme Dogecoin DOGE/USD is Tesla CEO Elon Musk. The Tesla CEO has tweeted about the Shiba Inu-themed cryptocurrency many times, and often caused spikes in valuation. The cryptocurrency meme remains one of Musk’s favorite topics on Twitter.
Here is a look at how much Dogecoin has grown in value since Musk first mentioned the cryptocurrency.
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.” Years later, Musk would acquire social media platform Twitter.
“It’s pretty cool.” The response came to a poll that voted Musk the winner of the fictional title of CEO of Dogecoin with 49% of the vote.
Musk beat out Ethereum ETH/USD co-founder Vitalik Buterinwho got 9% of the vote, Litecoin LTC/USD creator Charlie Leewho got 8% of the vote, and payment-processing platform Metal founder Marshall Haynerwho got 33% of the vote.
The other starting point is the first time Musk tweeted about Dogecoin, which was on July 17, 2020. On that fateful day, Musk shared a meme of Dogecoin passing the global financial system saying, “It’s inevitable.”
Related Link: ‘I’m Mainly Supporting Doge,’ Elon Musk Likes That Dogecoin Has The Memes, Dogs And A Sense Of Humor
Dogecoin Returns: Dogecoin traded at $0.002552 on April 2 around the time of Musk’s first tweet mentioning Dogecoin. If you bought $100 in Dogecoin at that time, you would have 39,185 DOGE today. The value of the $100 investment would now be $2,880.49 based on a current Dogecoin price of $0.07351.
Dogecoin traded at $0.003084 on July 17, 2020 at its highest price. A $100 investment on that day could have bought 32,425 DOGE. The value of the $100 investment would have grown to $2,383.56 today.
Dogecoin hit an all-time high of $0.7376 in May 2021. At its peak, these $100 investments in Dogecoin based off of Musk’s tweets would have been worth $28,902.86 and $23,916.68 respectively.
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