What $100 Dogecoin in 2019 would have worth now ?

The cryptocurrency market is one of the most dynamic industry to date, that has experienced many ups and downs in its rather brief years of existence. It is an attractive economic areas but need some paid attention on time.
Eric Finman - He bought bitcoins with $1000 that his grandmother gave him when he was only 12 years old. It was meant for his studies but he chose the path of a cryptocurrency investor.
The Winklevoss Brothers - They took $11 million of the total amount of compensation from facebook founder and bought bitcoins on them.

These are quite a few people who have made an impressive fortune on cryptocurrencies by identifying the potential of digital Currency and investing on time. But there are stories too of underestimating and under valuing the power of #bitcoin. Remember, Laszlo The guy paid 10 thousand coins #btc for two pizzas. Every year on May 22, Bitcoin pizza day is "celebrated."

src

Crypto coins always surprises their investor. Either it be with a huge pump and followed by surprised dump. It make ricer and same time make people crazy. It is alwsys unexpected, unless and untill one do a deep study about the market and different charts. The phenomenon of cryptocurrencies is enabling people to make money or raise funds for just about everything. Several cryptocurrencies in the market have strange and fancy names, but were created for a cause and are still in circulation in the market.

But with the spike in #bitcoin prices many people find it difficult to make a reach. So they found a good ally in the different #altcoins available in the crypto market. There were many and there were very underrated too. Some of them were launched only to make a pump, but still made people billionaire. One such coin is DOGECOIN.

The Dogecoin

Dogecoin is a virtual currency based around the hugely popular internet meme of a Shiba Inu. Originally made to mock the alternative crypto currencies. It was hoped to compete with Bitcoin. Dogecoin is now one of the biggest around the crypto market.

How many of you remember 33 years opd Glauber Contessoto 33 who becomes millionaire overnight with a sudden price rise in #dogecoin.

Contessoto claimed that he invested over $250,000 in dogecoin on February 5 when it was priced at about 0.045 cents. And later, on April 15, he says he became a dogecoin millionaire on paper.

The coin saw a dynamic price surge after getting a backing from #tesla owner Elon Musk tweet. Here is the link to the tweet I am referring to:

https://twitter.com/elonmusk/status/1113009339743100929?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1113009339743100929%7Ctwgr%5Ed0d7a429d0c027d512fbfeb644f106ec55aa95a7%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fapi-news.dailyhunt.in%2F

If we look around the historical figure. Dogecoin was traded at $0.002552 on April 2, 2019, around the time of Musk's first tweet mentioning Dogecoin. Being a meme coin, it was not been accepted by many. I was wondering if I would have 3 years, ago, what would be my current value now.

If we had bought $100 in Dogecoin before the tweet goes viral, we would have 40,000 (approx) DOGE coins today. The value of the $100 investment would now be $3,100 (approx) based on a current Dogecoin price of $0.07720. This represents a hypothetical return of 3,000 % over a period of only 3 years.

Dogecoin keep on pumping now and then. Elon again took to the social media in July 2020 showing similar support for #dogecoin. Musk shared a meme of Dogecoin passing the global financial system saying, "It's inevitable."

(jmage sourced from twitter)

At that time, #Dogecoin was trading at $0.003084 on July 17, 2020, at its highest price. A $100 investment on that day could have bought 32,425 DOGE. The value of the $100 investment would have grown to $2,500 today. This represents a hypothetical return of 2,430%. (approx)

Again #dogecoin knock at the investor door, when Elon must acquired #twitter. With plans to integrate payments into the social media company, some crypto experts and enthusiasts see Dogecoin as a potential winner. This made the crypto coin to jump again.

Dogecoin hit an all-time high of $0.07376 in May 2021. At its peak, these $100 investments in Dogecoin based on Musk's tweets would have been worth $28,902.86

Cryptocurrency market is full of unexpected events. Some news may pump it, while some news may pull it down. But one thing is clear, the cryptocurrency world embodies the formula "new technologies + big money" and if we pitch in the market at the right , we might end up with millionaire. Do keep a close eye you never which will be pumping next. It might be our #hive.

Hive blockchain have all the potential to be on the list of making many of the user's millionaire. Currently, one of the underrated coin, may be at high, once get a proper marketing and strong backing. May be some a similar tweet may make it reach on top. Keep watching.

Peace!!

Namaste @steemflow

Posted Using InLeo Alpha