Tech billionaire Elon Musk first tweeted about Dogecoin (DOGE) on April 2, 2019. DOGE was trading at the price of 0,000 at the time. What would happen now if you invested on this date?
2019: Elon Musk starts talking about cryptocurrencies
The CEO of SpaceX, Tesla, Neuralink, The Boring Company and Twitter has long been one of the biggest names behind the cryptocurrency market. But his first tweets were about Bitcoin, not Dogecoin. His first comments about Bitcoin came during a podcast in 2019 with Cathie Wood, CEO of Ark Invest. When asked about his thoughts on crypto during the podcast, he said, “Bitcoin and Ethereum scams were so prevalent on Twitter that I said I would join. At some point ‘Would you like to buy some Bitcoin?’ I asked. Then my account was suspended,” she said. The date he said this was February 2019.
As for Dogecoin, the first tweet came back in April of 2019. On this date, Musk tweeted, “Dogecoin may be my favorite cryptocurrency.” What he said came in response to a survey where a community member was looking for a CEO for Dogecoin. Musk won the title of fictional CEO of Dogecoin with 49% of the votes. He left behind names like Vitalik Buterin and Charlie Lee.
Another starting point is Musk’s first tweet about Dogecoin on July 17, 2020. This sharing directly affected the DOGE price. For the first time, Musk made a ‘pro-bull’ post about a cryptocurrency. Musk’s tweets initially did not arouse suspicion, as Dogecoin is a cryptocurrency famous for its memes. He was later sued for manipulating the price.
Investing $100 when Elon Musk first tweeted about DOGE
Dogecoin was trading at $0.002552 during the tweet where Musk first mentioned himself. If you bought $100 DOGE then, you would have 39,185 DOGE tokens today. The value of the $100 investment is now $2,880.49 relative to the current Dogecoin price of $0.07351.
Dogecoin traded at $0.003084 with its highest price on July 17, 2020. A $100 investment that day could have bought 32,425 DOGE. The value of the $100 investment would have risen to $2,383.56 today. Dogecoin then hit an all-time high of $0.7376 in May 2021. At its peak, these $100 investments in Dogecoin would have been worth $28,902.86 and $23,916.68, respectively, based on Musk’s tweets.
Meanwhile, Dogecoin is trading around $0.07 in December, with Bitcoin stuck below $17,000. We saw Musk’s latest impact when news emerged that he was going to buy Twitter. cryptocoin.comAs you can follow, DOGE rallied over 150% in a short time on this date.