One of the most popular voices behind the meme cryptocurrency Dogecoin DOGE/USD is Tesla CEO Elon Musk. The Tesla CEO has tweeted about the Shiba Inu-themed cryptocurrency many times, and often caused spikes in valuation. The meme cryptocurrency remains one of Musks favorite topics on Twitter.
Here is a look at how much Dogecoin has grown in value since Musk first mentioned the cryptocurrency.
First Tweet: To get a starting value for Dogecoin, we will look at two price points. On April 2, 2019, Musk replied to a tweet saying "Dogecoin might be my fav cryptocurrency." Years later, Musk would acquire social media platform Twitter.
"Its pretty cool." The response came to a poll that voted Musk the winner of the fictional title of CEO of Dogecoin with 49% of the vote.
@elonmusk You can’t decline! pic.twitter.com/5F0RAncfBo I am Hodler ? (@iamhodler) April 2, 2019
Musk beat out Ethereum ETH/USD co-founder Vitalik Buterin, who got 9% of the vote, Litecoin LTC/USD creator Charlie Lee, who got 8% of the vote, and payment-processing platform Metal founder Marshall Hayner, who got 33% of the vote.
The other starting point is the first time Musk tweeted about Dogecoin, which was on July 17, 2020. On that fateful day, Musk shared a meme of Dogecoin passing the global financial system saying, Its inevitable.
Its inevitable pic.twitter.com/eBKnQm6QyF Elon Musk (@elonmusk) July 18, 2020
While Musk often tweets about Dogecoin, which can lead to spikes in the price of the meme coin, the Tesla CEO caught some followers on social media by surprise Friday.
"I used to be in crypto, but now I got interested in AI," Musk tweeted.
The tweet from Musk, which may have been in reference to the growing number of companies and investors focused on artificial intelligence, sent the price of Dogecoin down shortly after.
Related Link: 'I'm Mainly Supporting Doge,' Elon Musk Likes That Dogecoin Has The Memes, Dogs And A Sense Of Humor
Dogecoin Return: Dogecoin traded at $0.002552 on April 2, 2019, around the time of Musks first tweet mentioning Dogecoin. If you bought $100 in Dogecoin at that time, you would have 39,185 DOGE today. The value of the $100 investment would now be $2,999.61based on a current Dogecoin price of $0.07655 at the time of writing.
Dogecoin traded 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 $2,482.13 today.
Dogecoin hit an all-time high of $0.7376 in May 2021. At its peak, these $100 investments in Dogecoin based on Musks tweets would have been worth $28,902.86 and $23,916.68 respectively.
Read Next:Elon Musk's Favorite Crypto Dogecoin Didn't Have The Best Year But It Still Outperformed Tesla In 2022
Photo: Courtesy ofDunkon flickr
