Dogecoin (CRYPTO: DOGE) traded higher in 2021. The ‘meme currency’ continued Twitter (NYSE: TWTR) throughout 2021 with #dogecoin and #dogetothemoon on popular topics.
Traders also urged Dogecoin to go for $ 1.
Dogecoin does not have a limited offer like other cryptocurrencies like Bitcoin. The cryptocurrency has limited use, but that has not stopped traders from taking a small position in the currency. The Dallas Mavericks even started accepting Dogecoin as a payment option at games in 2021.
Some of the fluctuations in the cryptocurrency are fueled by Tesla Ing (NASDAQ: TSLA) CEO Elon Musk, who posted about Dogecoin and shared memes of the cryptocurrency with a Shibu Inu dog.
Musk has tweeted several times about Dogecoin and pumped the price of the cryptocurrency to new highs of all time. On March 12, Musk encouraged Coinbase to add Dogecoin to its platform, and on April 1, Musk tweeted that he would be sending a literal Dogecoin to the literal moon. Although it’s probably just an April Fool’s joke, Dogecoin still rose 32% after Musk’s tweets.
Related link: How to pronounce Dogecoin
Investment in 2021: If you were lucky enough to throw some money into Dogecoin at the beginning of 2021, the cryptocurrency could be one of the best performing assets in your portfolio.
Dogecoin opened on January 1 for $ 0.00468 trading. If you had invested $ 1,000 in Dogecoin at the highest price on January 1, you would have bought 175,901 Dogecoin.
Based on a price of $ 0.187 on Thursday, the same $ 1,000 investment would now be worth $ 32,983. Not a bad return for investing or buying a currency.
Performance: With publication, Dogecoin rose 45% to $ 0.187. According to AssetDash.com, the cryptocurrency has a market capitalization of more than $ 22.7 billion.
Dogecoin is number 541 on the site’s list of stocks and cryptocurrencies by market capitalization. Bitcoin has a market capitalization of $ 1.2 billion. Ethereum has a market capitalization of $ 289 billion.
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