Dogecoin (DOGE) has seen a meteoric rise in value since its launch in 2013. The original memecoin has come a long way in its 11-year history. The asset recently witnessed a price spike after Elon Musk revealed that Tesla will soon enable DOGE payments for its vehicles. The asset has rallied 7.8% in the daily charts, 23.3% in the weekly charts, 45.4% in the 14-day charts, and 126.1% over the previous month. Moreover, the memecoin’s price has risen by 158% since March 2023.
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Dogecoin (DOGE) is also notoriously famous for turning many early investors into multi-millionaires. If you had invested $1000 every month since 2014, you would have put in about $121,000 till now. However, the portfolio’s value would have risen to $18.15 million, a rise of about 14,900%.
Moreover, if you had invested $1000 monthly till Dogecoin (DOGE) hit its all-time high in May 2021, you would have invested $86,000. However, the portfolio’s value would have skyrocketed to $132.26 million, a rise of 153,697.9%.
Can you still become a millionaire with Dogecoin (DOGE)?
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DOGE is currently down by over 74% from its all-time high of $0.7316, which it attained in May 2021. Moreover, many DOGE fans and investors anticipate the asset to eventually surpass $1. In such a scenario, we may see the emergence of several DOGE millionaire wallets.
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Furthermore, many expect Elon Musk’s Tesla and X to enable Dogecoin (DOGE) payments soon. Users can already pay for Tesla merchandise using DOGE. If X enables DOGE payments, we may see a sudden spike in adoption, leading to a price rally.