If You Invested $1,000 In Dogecoin When Elon Musk Said 'One Word: Doge,' Here's How Much You'd Have Today

One of the most prominent supporters over the years of meme cryptocurrency Dogecoin DOGE/USD has been Tesla CEO Elon Musk. The Tesla CEO made his first mention of Dogecoin in 2019 on Twitter.

Here’s a look at Musk’s history with Dogecoin and how an investment from a key moment in his time discussing the coin would have turned out.

What Happened: Musk’s history with Dogecoin on Twitter dates back to April 2, 2019. Musk replied to a tweet by saying, “Dogecoin might be my fav cryptocurrency. It’s pretty cool.”

The response came to a poll that saw Musk the winner of the fictional title of CEO of Dogecoin.

Musk’s first tweet about Dogecoin that wasn’t a reply came on July 17, 2020, when Musk shared a meme of Dogecoin passing the global financial system saying, “It’s inevitable.”

While Musk tweeted multiple times about Dogecoin in 2020, one of the more famous mentions was on Dec. 20, 2020, when Musk tweeted “One Word: Doge.”

The tweet has more than 204,000 likes and more than 23,000 retweets.

Dogecoin had a 2021 to remember, hitting all-time highs and trending as one of the most talked-about topics worldwide.

The coin’s price went from $0.0047 to $0.1705 from start to finish in 2021, hitting all-time highs of $0.7376 in May 2021.

Musk supported Dogecoin with tweets and had several of his companies including Tesla accept the cryptocurrency for payment on merchandise.

The purchase of social media platform Twitter, now known as X, by Musk also served as a potential catalyst for Dogecoin. The price of the meme cryptocurrency spiked several times throughout the buying process and after the deal was closed, as many in the crypto community see Musk integrating Dogecoin onto the platform.

Related Link: How To Buy Dogecoin (DOGE) 

Investing $1,000 in Dogecoin: The price of Dogecoin hit a high of $0.004678 on Dec. 20, 2020, when Musk shared one of his more famous tweets about the meme cryptocurrency.

Dogecoin often saw spikes in 2020 and 2021 when the Tesla CEO mentioned the cryptocurrency.

A $1,000 investment in Dogecoin on Dec. 20, 2020, could have purchased 213,766.57 DOGE. That Dogecoin would be worth $13,129.54 today, based on a price of $0.06142 for Dogecoin at the time of writing.

The investment would be up 1,213.0% since the tweet from Musk.

Dogecoin hit an all-time high of $0.7376 in May 2021. The Dogecoin investment from the day of Musk’s 2020 tweet would have been worth $157,674.22 at the crypto's peak price.

While Musk said there was only one word, anyone who invested in Dogecoin in December 2020 might have multiple words for describing the return on their investment, including, “Much WOW!”

There is no guarantee that Dogecoin will trade higher in the future. As shown above, the meme cryptocurrency can often trade in reaction to tweets from Elon Musk, who is the second most followed person on Twitter.

Read Next: 2021 Was The Year Of Dogecoin: A Month By Month Retrospective With Top Stories 

Photo: Created with images from Maria Aufmuth at TED Conference, Brian Bald on Flickr