Dogecoin (DOGE) has had ample success in its 11-year history. The original memecoin’s price skyrocketed during the 2021 bull run. Early investors made millions of dollars in profit with minimal investments.
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$1000 Worth Of Dogecoin Becomes $3.85 Million Today
Source: Bitcoinist
If you had purchased $1000 worth of DOGE when the asset was at its lowest on May 6, 2015, the investment would have been worth $3.85 million today. Your portfolio’s value would have risen by 385,074.41%.
Source: Changelly
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If you had sold the $1000 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 grown by 756,170.05%.
Source: Changelly
Can You Still Become A Millionaire With The Memecoin?
If you purchase $1000 worth of Dogecoin (DOGE) today, you will receive about 3030.30 coins. For 3030.30 DOGE to be worth $1 million, the price of each coin has to reach around $330. To hit $330, DOGE’s price has to rally by around 99,900%. Although the figure may seem significantly large, it is not something the memecoin has not done before.
Changelly analysts do not anticipate DOGE to hit $330 anytime before 2050.
Source: Changelly
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There is a possibility that DOGE will hit the $330 target sooner than 2050. If we witness another 2021-like rally, the memecoin could create many more new millionaires.
President-elect Donald Trump has greenlit the creation of the Department Of Government Efficiency (D.O.G.E.) with Elon Musk and Vivek Ramaswamy at its head. The commencing of D.O.G.E. could lead to a significant price surge for the memecoin. Musk is also one of the most vocal supporters of DOGE. His actions could lead to DOGE hitting never-before-seen prices.
