Dogecoin has captured the hearts of many investors since the end of 2020. It’s not often you can make money and want to spoil your investment at the same time. In this article, we take a look at what an investment of €100 in Doge would have done 5 years ago.
capricious doge course
But first, a look at Doge’s course. For a long time, cryptocurrency was not worth much and above all a fun currency to play with.
Many jokes were made that for a few euros you could make someone a Dogecoin millionaire.
If only the recipients kept that Dogecoin.
What if you bought Dogecoin five years ago?
If you had purchased $100 worth of Dogecoin five years ago, in March 2018, you would have received the following amount of Dogecoin:
100 euros / 0.00245 euros per dogecoin = 40,816.33 dogecoins (rounded to the nearest hundredth).
At the moment, each Dogecoin is worth 0.07122006 euros. So the value of your investment is now:
40,816.33 dogecoins x 0.07122006 euros per dogecoin = 2,907.29 euros.
So if you invested $100 in Dogecoin five years ago, your investment would now be worth about $2907.29.
Doge sold at all-time high
But what if you could time the market very well and sell at the peak? The highest value for Doge to date was reached in May 2021.
Using the same calculation as above, you bought 40,816.33 Dogecoin for 100 euros in March 2018.
We can then calculate how much that investment was worth in May 2021 by multiplying the number of Dogecoins by the price per Dogecoin at the time:
40,816.33 dogecoins x 0.56 euros per dogecoin = 22,898.23 euros.
If you bought Dogecoin for $100 five years ago, that investment would be worth about $22,898.23 in May 2021.
Invest when no one believes
What do we want to achieve with this information? It pays to invest small amounts in the bear market. When no one is interested in a particular cryptocurrency and the price is historically low, it may be worth betting on a significant profit in the bull market.
At the same time, it is nothing more than a bet. They might as well have lost all $100 if Elon Musk hadn’t been so actively tweeting about Doge.
Source: Btc Direct
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.