Tesla Motors (TSLA), Twitter (TWTR) – If You Invested $1,000 In Dogecoin On Jan. 1, 2021, Here’s How Much You’d Have Now

UPDATE (10:12pm ET): Since the time of publication, Dogecoin has risen 24% to $0.2324. $1,000 invested on Jan. 1, 2021 would now be worth $40,879.29.

Dogecoin (CRYPTO:DOGE) continues to trade higher in 2021. The “meme currency” has trended on Twitter (NYSE:TWTR) throughout 2021 with #dogecoin and #dogetothemoon among trending topics.

Traders have also pushed for Dogecoin to go to $1.

Dogecoin does not have a limited supply like other cryptocurrencies like Bitcoin. The cryptocurrency has limited use but that hasn’t stopped traders from taking a small position in the meme currency. The Dallas Mavericks even began accepting Dogecoin as a payment option at games in 2021.

Some of the swings in the cryptocurrency have been fueled by Tesla Inc (NASDAQ:TSLA) CEO Elon Musk who has posted about Dogecoin and shared memes of the cryptocurrency featuring a Shibu Inu dog.

Related Link: How to Buy Dogecoin

Musk has tweeted about Dogecoin several times, pumping the cryptocurrency’s price to new all-time highs. On March 12, Musk encouraged Coinbase to add Dogecoin to its platform, and on April 1 Musk tweeted that he will be sending “a literal Dogecoin to the literal moon.” Although this is likely just an April Fool’s joke, Dogecoin still rose about 32% following Musk’s tweets.

Investing In 2021: If you were fortunate to throw a little money into Dogecoin at the beginning of 2021, the cryptocurrency could be one of the best performing assets in your portfolio.

Dogecoin opened for trading on Jan. 1 at $0.00468. If you had invested $1,000 in Dogecoin at the highest price on Jan. 1 of $0.005685, you would have bought 175,901 Dogecoin.

Based on a price of $0.187 on Thursday, that same $1,000 investment would now be worth $32,983. Not a bad return for investing or buying a meme currency.

Performance: Dogecoin is up 45% to $0.187 at publication time. The cryptocurrency has a market cap of more than $22.7 billion, according to AssetDash.com.

Dogecoin ranks number 541 on the site’s list of stocks and cryptocurrencies by market capitalization. Bitcoin has a market capitalization of $1.2 trillion. Ethereum has a market capitalization of $289 billion.