Dogecoin (DOGE) has come a long way in its more than 10-year history. The cryptocurrency started as a joke but has since become one of the most significant projects by market cap. The original memecoin has even turned many investors into multi-millionaires. People who got into the project in its early days have made massive returns with minimal investment.
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$1000 Worth of Dogecoin Becomes $5 Million
DOGE was at its lowest on May 6, 2015. If you invested $1000 in the memecoin on May 6, 2015, the investment would have been worth $5.02 million today. Your portfolio’s value would have risen by 502,598.9%
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If you had held on to the $1000 worth of DOGE and sold your holdings when DOGE hit an all-time high on May 5, 2021, you would have made $7.56 million. In this scenario, your portfolio’s value would have increased by 756,170%.
Can You Still Turn $1000 Into $1 Million?
If you purchase $1000 worth of Dogecoin (DOGE) today, you will receive about 2325.58 coins. For 2325.58 coins to be worth $1 million, the price of each coin has to reach around $430. Hitting $430 is not an easy task.
According to Changelly, DOGE will hit the $430 level sometime after 2050. The platform anticipates the memecoin to trade at a potential maximum price of $106.47 in 2050.
Telegaon analysts are a lot more bearish on Dogecoin (DOGE) than Changelly. The platform anticipates DOGE to hit a maximum price of $16.37 in 2040. At such a rate, DOGE may never hit the $430 mark, as per Telegaon’s analysis.
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DOGE may undergo a massive surge in adoption over the next few years. The Trump administration will set up a new Department Of Government Efficiency (D.O.G.E.) as per Elon Musk’s recommendation. Musk is one of the most significant DOGE supporters in the world. There is also a lot of talk about DOGE being included in X’s upcoming payment feature. Both developments could take DOGE to new heights. Whether the memecoin hits $430 or not, is to be seen.
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