Dogecoin (DOGE) market has been the highlight of the month. After Donald Trump's victory, the OG MEME cryptocurrency has seen massive gains. DOGE has surged over 167% in the past 30 days. After this massive surge, this MEME token seems to have slowed down.
During this period, many have been re-examining DOGE's growth over the years, while reconsidering their past investments. This article delves into the potential growth rate of DOGE if $100 was invested when Elon Musk first tweeted about the asset.
What is the current trading price of Dogecoin?
After experiencing triple-digit gains and reaching a high of nearly $0.43, Dogecoin has started to decline. Notably, in this way, the MEME coin has set a new three-year high. As of the time of writing, the trading price of Dogecoin is $0.3828, down nearly 3% in the past 24 hours.
Dogecoin's momentum is often driven by hype and excitement. As the buzz around Elon Musk's proposed government efficiency department (DOGE) and Donald Trump's election victory subsides, the significant impact on the asset's price may weaken.
Revisiting Elon Musk's First Interaction
Musk has brought significant changes to the dynamics of the cryptocurrency industry. He has particularly impacted the Dogecoin market in various ways. But his first interaction with Dogecoin occurred in 2019. Musk responded to a tweet on April 2, 2019, stating, "Dogecoin might be my favorite cryptocurrency."
When Musk first mentioned Dogecoin in a tweet on April 2, 2019, the trading price was $0.002552. If investors had purchased $100 worth of Dogecoin during this time, they would have owned 39,185 Dogecoins. Calculated at today's price, this meager investment would have soared to a high of $15,000. While this may not be much, it is still a massive increase compared to the initial $100.
