If You Invested $100 When Elon Musk First Tweeted About Dogecoin, Here's How Much You'd Have Now
One of the most popular voices behind the meme cryptocurrency that is Dogecoin (CRYPTO: DOGE) is Tesla Inc (NASDAQ:TSLA) CEO Elon Musk. The CEO has tweeted about the Shiba Inu-themed cryptocurrency many times and often caused spikes in the valuation.
Ahead of Elon Musk’s appearance on "Saturday Night Live" airing on Comcast Corporation's (NASDAQ:CMCSA) NBC network, many believe Dogecoin could continue its run. Others wonder if the cryptocurrency will fall after Musk’s appearance. Musk has hinted that Dogecoin will be featured on the episode.
Here is a look at just how much you would 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 points. On April 2, 2019, Musk replied to a tweet saying “Dogecoin might be my fav cryptocurrency. It’s pretty cool.” The response came to a poll that had 3,581 votes and declared Musk the winner as the CEO of Dogecoin with 49% of the vote.
Dogecoin might be my fav cryptocurrency. It’s pretty cool.
— Elon Musk (@elonmusk) April 2, 2019
Musk beat out Viatalik Buterin, the founder of Ethereum (CRYPTO: ETH), who got 9% of the vote, Charlie Lee (@SatoshiLite), the creator of Litecoin (CRYPTO: LTC), who got 8% of the vote and Marshall Hayner, the founder of Metal, who got 33% of the vote.
The other starting point is the first time Musk tweeted about Dogecoin, which to this author’s knowledge came on July 17, 2020, when Musk shared a meme of Dogecoin passing the global financial system saying, “It’s inevitable.” Musk even replied to the tweet recently on April 16 with a watching eyes emoji.
It’s inevitable pic.twitter.com/eBKnQm6QyF
— Elon Musk (@elonmusk) July 18, 2020
Dogecoin Return: Dogecoin traded at $0.002552 on April 2 around the time of Musk’s tweet. If you bought $100 in Dogecoin at that time, you would have 39,185 coins. The current value of the $100 investment would be $27,793.92 based on a current Dogecoin price of $0.7093.
Dogecoin traded at $.003084 on July 17 at its highest price. If you bought $100 in Dogecoin at that time, you would have 32,425 coins. The current value of the $100 investment would be $22,999.05.
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