A $ 1,000 investment in Dogecoin a year ago would be worth almost $ 85,000 today
September 21, 2021 (Investorideas.com Newswire) Cryptocurrency adoption continues to grow in 2021, with over 300 million crypto users worldwide and 18,000 businesses already accepting crypto payments. Although Bitcoin and Ethereum, as the world’s largest digital coins, still hold the highest ownership rates in the crypto space, Dogecoin has climbed to the top of the list of most popular crypto investments, with a impressive return on investment.
According to data presented by MejoresApuestas.com, a $ 1,000 investment in Dogecoin a year ago would be worth almost $ 85,000 today.
Dogecoin price jumped 45 times in 2021
The memes-inspired digital coin has come a long way since its debut in 2013. What started as a joke between the two IBM engineers has grown into the tenth largest cryptocurrency in the world, with a market cap of around $ 30 billion this week.
Dogecoin’s recent price spike has sparked a lot of intentions in the crypto space, making it the third most popular crypto to own in 2021 behind Bitcoin and Ethereum, in the US and UK.
Assuming that an investor purchased $ 1,000 worth of DOGE tokens on September 20, 2020, they would have collected 380,228 coins at a price of approximately $ 0.0026.
However, the price of the original meme has exploded since then. Between January and March, it climbed almost 1000% to $ 0.054 and continued to rise. Finally, on May 8, it hit a record high of $ 0.73, turning that $ 1,000 investment into nearly $ 280,000.
Although the price of Dogecoin has fallen significantly since then, hitting around $ 0.22 this week, it is still 45 times more than in January.
Market capitalization has jumped 4,700% year-to-date, 13 times more than Ethereum
In addition to becoming one of the most popular cryptos to own, Dogecoin was also the second fastest growing digital coin in the crypto space this year, behind Solana.
In January, the combined value of all DOGE coins in circulation was approximately $ 1.1 billion. However, after Elon Musk and Snoop Dogg tweets about the coin, that figure jumped to $ 6.5 billion the following month.
On May 8, Dogecoin’s market cap hit a record high of $ 93.5 billion, then fell to $ 35.7 billion in just three weeks after the crypto price crash. CoinMarketCap data showed the combined value of all DOGE coins slipped to around $ 30 billion this week, still a massive 4,700% increase since the start of the year, and 13 times the growth rate. Ethereum during this period.
The full story can be read here: https://mejoresapuestas.com/en/2021/09/21/a-1000-investment-in-dogecoin-a-year-ago-would-be-worth-nearly-85000-today/
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