What Would Your Current Investment Balance Be If You Put $1,000 in 2021?
In 2021, when the owner of the Dallas Mavericks, Mark Cuban, announced that his NBA franchise would accept Dogecoin as payment for tickets and merchandise sold at the arena, it marked a turning point for the original meme coin in the mainstream. The move was made possible by BitPay, who noted the NBA team’s interest in crypto adoption. The team reported $122,000 in Dogecoin transactions over its first month and set a host of 24-hour records after the announcement was made. In August of 2021, they launched a promotion to offer a free $25 gift card to those who used the meme coin for merchandise purchases exceeding $150. If you invested $1,000 in Dogecoin in 2021, you would have $1,336.86 today, marking a 33.7% return in just two years. Alternatively, Dogecoin experienced its all-time high in May of 2021 at $0.7375, meaning that if you waited a couple of months after purchasing and then sold, your $1,000 investment would have sported a value of $14,435.31, producing a return of 1,343.5%. Known for its volatility, DOGE often maneuvers in price based on its social relevancy. Figures like Mark Cuban and Tesla founder Elon Musk have always been vital to its growth.