One of the most prominent voices showing support for meme cryptocurrency Dogecoin DOGE/USD over the years was Tesla Inc TSLA CEO Elon Musk.
Musk’s first mention of Dogecoin came in 2019 and many more references appeared in 2020 and 2021.
Here’s a look at the performance of the cryptocurrency after one of Musk’s most famous Dogecoin-related tweets.
What Happened: Musk’s history with Dogecoin on Twitter dates back to April 2, 2019. Musk replied to a tweet by saying, “Dogecoin might be my fav cryptocurrency. It’s pretty cool.”
The response came to a poll that saw Musk the winner of the title of CEO of Dogecoin.
Musk’s first tweet about Dogecoin that wasn’t a reply came on July 17, 2020, when Musk shared a meme of Dogecoin passing the global financial system saying, “It’s inevitable.”
While Musk tweeted multiple times about Dogecoin in 2020, one of the more famous mentions was on Dec. 20, 2020, when Musk tweeted “One Word: Doge.” The tweet had over 208,000 likes and more than 31,000 retweets.
Dogecoin had a 2021 to remember: it hit all-time highs and trended as one of the most talked-about topics worldwide. The coin's price went from $0.0047 to $0.1705 from start to finish in 2021.
Musk supported Dogecoin with tweets and had Tesla accept the cryptocurrency for payment on merchandise.
Related Link: How To Buy Dogecoin
If You Invested $1,000 in Dogecoin: The price of Dogecoin hit a high of $0.004678 on Dec. 20, 2020, when Musk gave one of his more famous tweets about the meme cryptocurrency.
Dogecoin often saw spikes in 2020 and 2021 when the Tesla CEO mentioned the cryptocurrency.
A $1,000 investment in Dogecoin on Dec. 20, 2020, could have purchased 213,766.57 DOGE. That Dogecoin would be worth $21,953.83 today based on a price of $.1027 at the time of writing.
Dogecoin hit an all-time high of $0.7375 in May 2021. The Dogecoin invested in from Musk’s 2020 tweet would have been worth a peak of $157,652.85 at the time.
While Musk said there was one word, anyone who invested in Dogecoin at the time of 2020 might have multiple words to say to describe the return on investment including, “Much WOW.”
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