If You'd Invested Just $100 in Dogecoin 5 Years Ago, Here's How Much You'd Have Today

Dogecoin (CRYPTO: DOGE) is back in the news after a more than 30% rise in the cryptocurrency's price over the last month. The meme coin may have started as a joke poking fun at Bitcoin, but it's no laughing matter after amassing a market capitalization of more than $20 billion. The coin took off in 2021 thanks in large part to Elon Musk -- the "Dogefather" -- who became an unofficial champion of the cryptocurrency. At the time, a single tweet by Musk could send the price of the coin flying, like when he said that Tesla would begin accepting it as payment for Tesla merch, which it still does.Dogecoin is a prime example of how cryptocurrencies often marry finance with the peculiarities of internet culture. The coin's dog theme has spread, spawning hundreds of variations. Some of them have been extremely successful, including Shiba Inu and the more whimsical dogwifhat.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool