Dogecoin had a phenomenal run in the indices in 2020 and early 2021 after Elon Musk announced that he invested in the meme currency. DOGE spiked tenfold until May 2021, making early investors millionaires overnight. The unprecedented run made headlines around the world and attracted millions of new and first-time investors to the cryptocurrency markets.
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In this article, we will highlight how much money you could have made today if you invested $1,000 in Dogecoin five years ago, in September 2018.
Dogecoin: $1,000 Invested In DOGE 5 Years Ago is Now Worth…
Dogecoin was trading at $0.0068 five years ago in September 2018, and investors got to accumulate close to 150,000 coins. However, DOGE spectacularly deleted its zeroes in early 2021 and jumped to an all-time high of $0.73 in May of the same year. If you had held on to the coin through all its ups and downs until today, you’d be in profits now, but not with life-changing gains.
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A $1,000 investment in 2018 in Dogecoin would be worth $9,422 today, while DOGE is trading at $0.06. That’s an uptick and return on investment (ROI) of approximately 845% in the last five years. However, if you had sold when it reached its ATH in 2021, you could have earned $109,500 with the $1,000 investment.
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Nonetheless, while Dogecoin had a stellar run a few years ago, its rally has now come to a screeching halt. The meme currency is among the least-performing cryptocurrencies in 2023 and is only generating losses for investors. The ones who purchased the meme coin during its peak rally are all underwater now. Read here for a realistic price prediction on when DOGE might breach the $1 mark.
At press time, Dogecoin was trading at $0.06 and was down 0.7% in the 24-hour day trade. DOGE is also down close to 92% from its all-time high of $0.73, which it reached in May 2021.