Dogecoin (DOGE) has seen a lot of success over its 11-year history. The price of the original memecoin skyrocketed during the 2021 bull run. Early investors made millions of dollars in profits with minimal investments.
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$1,000 worth of Dogecoin becomes $3.85 million today
If you had purchased $1,000 worth of DOGE when the asset was at its lowest level on May 6, 2015, the investment would have been worth $3.85 million today. The value of your portfolio would have increased by 385,074.41%.
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If you had sold $1,000 worth of DOGE when it was at its peak on May 8, 2021, you would have made $7.56 million. In this scenario, your investment would have increased by 756,170.05%.
Can you still become a millionaire with Memecoin?
If you purchase $1,000 worth of Dogecoin (DOGE) today, you will receive approximately 3,030.30 coins. For 3030.30 DOGE to be worth $1 million, the price of each coin needs to reach around $330. To reach $330, DOGE price needs to increase by approximately 99,900%. While the figure may seem very high, it is not something memecoin has ever done before.
Changelly analysts do not expect DOGE to reach $330 until 2050.
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It is possible that DOGE could reach the $330 target before 2050. If we see another rally similar to 2021, memecoin could create many more new millionaires.
President-elect Donald Trump has given the green light to the creation of the Department of Government Effectiveness (DOGE) with Elon Musk and Vivek Ramaswamy at its helm. The launch of DOGE could lead to a significant rise in memecoin prices. Musk is also one of DOGE’s most ardent supporters. His actions could cause DOGE to reach never-before-seen prices.