Investing $1,000 in DOGE in 2021 would now be worth $2,125.90, a 112.59% gain

From Nasdaq
October 13, 2024 12:00:53 PM:

Cryptocurrency is still a new concept for many, but one notorious crypto, Dogecoin (DOGE), stands out. Created in 2013, it features a Shiba Inu dog as its logo. Billionaire Mark Cuban, a DOGE believer, accepted it as payment for his Dallas Mavericks team. The Mavericks saw $122,000 in Dogecoin sales in their first month.

Cuban started accepting DOGE for Mavericks merchandise and tickets in 2021, citing the fun and PR benefits. A $1,000 investment in DOGE then could have bought 19,573.30 coins. Today, the same investment would get you 9,207.17 coins at about $0.108611 per coin, a 53% decrease in the number of coins.

However, if you had invested $1,000 in DOGE in 2021, it would be worth $2,125.90 today, a 112.59% gain. The price of DOGE doubled since 2021, showing the potential for growth in the cryptocurrency market. Mark Cuban’s support has helped bring DOGE into mainstream acceptance as a form of payment.

Read more at Nasdaq: If You Bought $1K in Dogecoin When Mark Cuban’s Mavericks Got In, Here’s How Much You’d Have Now