There is a calculator that tells you how much money you could make by purchasing $100 worth of Dogecoin.
Investing money into Dogecoin probably wasn’t on your 2024 bingo card after the cryptocurrency was originally created as a joke.
The crypto initially went viral in 2010 and features a design of a famous Shiba Inu dog.
Advert
It’s since been considered as the first meme coin but despite its satirical origins, it now apparently has legitimate investment prospects.
This has also been bizarrely catapulted by Trump’s election win earlier this month.
After his victory, the president-elect announced that he had appointed Elon Musk as head of the Department of Government Efficiency - which is shortened to DOGE.
Despite its name, the department isn’t actually part of the Trump administration and instead will offer ‘advice and guidance’ from the outside.
Along with conservative activist Vivek Ramaswamy, Musk has promised a complete overhaul and Trump has revealed that the department will help to ‘dismantle Government Bureaucracy’.
But due to DOGE’s connotations with Dogecoin, the cryptocurrency has surged in value beyond 106%.
According to coincodex, if you invest $100 today in Dogecoin, it could be worth $290,855 in 10 years time.
Of course, there is no telling how accurate this actually is and things could always turn south when it comes to the dog themed coin’s value.
While it pales in comparison to the current $91,000+ value of Bitcoin, Dogecoin has risen to become the 6th most valuable cryptocurrency on the market right now with a price-per-coin of around $0.3985.
Dogecoin has experienced an overall boost of 253% in the past month, and 441% in the past year - both of which are primarily down to Trump’s victory and his subsequent post-election focus on cryptocurrency.
Musk has revealed plans to slash the federal budget in his new DOGE role and took to his own social media platform X, formerly Twitter, to share a meme featuring Doge.
Alongside pledging $2 trillion in cuts as part of DOGE, the billionaire also posted on X that ‘the merch will be [fire emojis]’.
Musk appears to strongly believe in the viability of Dogecoin as part of the US economy, arguing: “I think the flat inflation of Dogecoin, which means decreasing percentage inflation, is a feature, not a bug.”
That might mean that the nearly 15-year-old meme isn’t going anywhere anytime soon.