One of the most popular voices behind the meme cryptocurrency that is Dogecoin DOGE/USD is Tesla Inc. TSLA CEO Elon Musk. The CEO has repeatedly tweeted about the Shiba Inu-themed cryptocurrency and often caused valuation spikes. Cryptocurrency meme remains one of Musk’s favorite topics on Twitter Inc. TWTR.
Here’s a look at how much you’d 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 levels. April 2, 2019 Musk replied to a tweet saying “Dogecoin might be my favorite cryptocurrency. That’s really cool.” The answer came from a poll that garnered 3,581 votes and declared Musk the winner as CEO of Dogecoin with 49% of the vote.
Dogecoin might be my favorite cryptocurrency. It’s really cool.
— Elon Musk (@elonmusk) April 2, 2019
Musk beat Viatalik Buterin, the founder of Ethereum ETH/USDwho got 9% of the votes, Charlie Lee (@SatoshiLite), the creator of Litecoin LTC/USDwho got 8% of the votes and Marshall Hayner, the founder of Metal, who got 33% of the votes.
The other jumping off point is the first time Musk tweeted about Dogecoin, which as far as this author knows happened on July 17, 2020, when Musk share a Dogecoin meme passing the global financial system saying, “It’s unavoidable.” Musk even replied to the tweet recently on April 16 with a watchful eye emoji.
It’s inevitable pic.twitter.com/eBKnQm6QyF
— Elon Musk (@elonmusk) July 18, 2020
Related Link: “I Mainly Support Doge”: Elon Musk Loves Dogecoin Memes, Dogs & Sense of Humor
Return Dogecoin: Dogecoin negotiated at $0.002552 on April 2 around the time of Musk’s tweet. If you bought $100 worth of 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 $0.003084 on July 17 at its highest price. If you bought $100 worth of Dogecoin at that time, you would have 32,425 coins. The present 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.