One of the most prominent proponents of memetic cryptocurrency dogecoin Doge/US Dollar over the years Tesla CEO Elon Musk.
Musk first mentioned Dogecoin in 2019, with more mentions in 2020 and 2021.
Let’s take a look at the cryptocurrency’s performance after Musk’s most famous Dogecoin-related tweet.
what happened: History of Musk with Dogecoin twitter Dating back to April 2, 2019. It’s so cool. “
The reaction led to a poll that Musk was the winner of the fictitious title of CEO of Dogecoin.
Musk’s first tweet about Dogecoin, not a reply, was on July 17, 2020. Sharing a meme about Dogecoin going through the global financial system, Musk said, “It’s inevitable.”
Musk tweeted about Dogecoin many times in 2020, but one of the most famous mentions was on December 20, 2020. murmured “One word: Doge”
The tweet has over 207,000 likes and over 23,000 retweets. Dogecoin has had a memorable year in 2021 for him, hitting all-time highs and trending as his one of the hottest topics around the world.
The coin’s price will rise from $0.0047 to $0.1705 throughout 2021, hitting an all-time high of $0.7376 in May 2021.
Musk endorsed Dogecoin in a tweet and made several of his companies, including Tesla, accept cryptocurrencies to pay for goods.
Related link: How to buy Dogecoin
Invest $1,000 in Dogecoin: Dogecoin price reached its all-time high of $0.004678 on December 20, 2020. Then Musk shared one of his famous tweets about meme cryptocurrency.
Dogecoin often surged in 2020 and 2021 when Tesla’s CEO mentioned cryptocurrencies.
A $1,000 investment in Dogecoin on December 20, 2020 could have bought 213,766.57 DOGE. Based on his Dogecoin price of $0.08787 at the time of writing, that his Dogecoin today is worth him $18,783.67.
Dogecoin hits all-time high of $0.7376 in May 2021. Musk’s investment in Dogecoin since the date of his 2020 tweet was worth $157,674.22 at the cryptocurrency’s peak price.
Musk said there was only one word, but anyone who invested in Dogecoin in December 2020 may have more than one to describe the return on investment.
There is no guarantee that Dogecoin will trade higher in the future. As shown above, memetic cryptocurrencies are often traded in response to the tweets of Elon Musk, the second most followed person on Twitter.
READ NEXT: Exclusives: Wait for Dodgecoin or Dogecoin? Many Americans Don’t Know the Difference
Photo: Dunk courtesy of flickr