The price of Dogecoin DOGE/USD rallies forward of that of Donald Trump the inauguration, which is expected to take place on Monday, January 20.
Dogecoin, launched in 2013, had its most memorable moment year again in 2021.
As Dogecoin gains in 2025, here’s a look back at how much investors could have earned by investing in the coin in early 2021, when social media buzz, Google Trends spikes and new stock listings fueled its rapid rise .
What happened: Dogecoin has become a huge scenario in 2021 with public figures like Elon Musk And Marc Cuban generate support and post positive thoughts about crypto on social media.
In early January, Dogecoin became a popular topic on social media platforms and saw an uptick in Google Trends.
Later in 2021, the demand for Dogecoin led to more cryptocurrency exchanges adding the coin to their platform, making it easier for investors to buy and hold Dogecoin than ever before. Often, the addition of Dogecoin to a new exchange or the announcement of its imminent inclusion has sparked a surge in the cryptocurrency’s prices.
Throughout 2021, Musk’s tweets would lead to increased trading activity and a rise in the price of Dogecoin.
Dogecoin reached numerous all-time highs throughout 2021, peaking at $0.7376 in May 2021, around the time Musk was the featured guest host on an episode of “Saturday Night Live.”
Investors who purchased Dogecoin shortly before the SNL episode aired or at the end of 2021 could be down from their current position.
Here’s a look at how investors who got in early, in early 2021, when Dogecoin was a major trending topic, fared.
Read also: If You Invested $100 in Shiba Inu When the Coin Launched, Here’s How Much You’d Have Today
Investing $1,000 in Dogecoin: Investors who saw Dogecoin trending on social media at the start of the new year and placed a small bet on the cryptocurrency’s continued momentum would have been pleasantly rewarded.
Dogecoin opened on January 1, 2021 at $0.00468 and reached a high of $0.005685 that day. An investment of $1,000 at the time could have purchased 175,901.50 DOGE based on the highest price of the day.
The $1,000 investment in Dogecoin would be worth $73,474.06 today, based on a price of $0.4177 for Dogecoin at the time of writing. This represents a hypothetical return of 7,247.4%% over the past three-plus years.
At its peak price of $0.7376, the $1,000 investment in Dogecoin would have been worth $129,744.95.
For comparison, the same $1,000 invested in the SPDR S&P 500 ETF Trust SPYwhich tracks the S&P 500 index, would be worth $1,714.80 today. This represents a return of 71.5% over the same period.
Whether an investor sold during the run-up to all-time highs or is currently holding, if they bought Dogecoin in early 2021, they will likely say “Much Wow.”
And then: There is some optimism within the cryptocurrency sector: Donald Trump as president, coin prices will rise, with many cryptos reaching new all-time highs following the outcome of the 2024 presidential election.
A previous Benzinga poll found that 72% of respondents thought Trump would be more supportive of the future of Dogecoin, compared to 28% for the presidential candidate. Kamala Harris.
A December survey requested Benzinga readers if Dogecoin was more likely to hit 25 cents or 69 cents first. The vast majority (78%) of respondents chose 69 cents as their option, compared to 22% who chose 25 cents.
Dogecoin was trading between 15 cents and 18 cents on November 5, 2024, the day of the US presidential election. Like many cryptocurrencies, Dogecoin gained ground in the day and weeks following Trump’s victory.
Over the past year, Dogecoin has traded between $0.07515 and $0.4835, with the yearly high being reached in December. Over the past month, Dogecoin has traded between $0.2644 and $0.4205, with the monthly high being reached on Friday.
The cryptocurrency industry will be closely watching how the sector reacts following Trump’s inauguration.
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This article was previously published by Benzinga and has been updated.
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