This year, many cryptocurrencies have shown long-awaited growth, and we are not only talking about Bitcoin, whose price has exceeded $100,000, but also about Solana , XRP etc.
First token -meme Dogecoin (DOGE) was no exception, especially if we consider the time period from January 1, 2021, when the memecoin cost $0,005685, to Friday, December 13, with a cost of $0,40381.
Given the above prices, $1000 invested in the meme coin at the start of 2021 would have netted 175,901 DOGE. As of December 13, that amount was valued at $70,978, representing a gain of 7003,08% and a total gain of almost $70,000.
The results are impressive, but experienced traders would have likely taken profits in May, turning the $1000 investment into a whopping $120,453.
If we shorten the time frame, then in 2024 Dogecoin entered at a rather modest price of $0,09206, while the annual growth reached 352,14%.
This means that a $1000 investment made on New Year's Day would have bought just over 10,862 meme coins. That investment would be worth $4386 today.
Price change Dogecoin since the beginning of this year. Data from CoinGecko
Despite DOGE's outstanding performance, whether purchased in early 2021 or 2024, it is not the most effective meme coin to hold for the long term.
On December 13, 2024, an investment of $1000 in Shiba Inu (SHIB) made on January 1, 2021, would have grown to $172,888, suggesting that making significant money with meme tokens is only for the truly lucky and few traders.
