Those who continuously invested $100 per week in Dogecoin since its inception in 2013 would be sitting on a whopping $5.7 million as of September 2023.
Although Dogecoin (DOGE) experienced substantial price fluctuations since its launch, the overall gain would still be profitable for those who consistently invested. This strategy, known as dollar-cost averaging, helps to mitigate the risks of price volatility.
At the time of launch in December 2013, Dogecoin was trading at approximately $0.00058. It reached its all-time high of $0.731 in May 2021, marking a gain of 126020.69% since its launch.
Despite a downward trajectory from 2022 onwards, and despite sporadic price spikes influenced by influential figures like Elon Musk, the meme-inspired cryptocurrency is still up by around 2230% since its launch.
Investors who kept up with the $100 weekly investment would have invested a total of $51,100. The return on this investment is calculated to be about 11098.17%, translating to a monetary gain of about $5.67 million.
Dogecoin, like other cryptocurrencies, is subject to market volatility. Therefore, potential investors should conduct thorough research and seek advice from licensed financial advisors.
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