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A $1000 Bet On Dogecoin In 2021 Now Tops The Average US Income - TCR

Altcoins

www.thecoinrepublic.com 05 May 2021 09:16, UTC
  
Reading time: ~2 m

  • Dogecoin investment better than investing in a lottery says Shark Tank star, Mark Cuban
  • Oakland A’s has started accepting Dogecoin as a form of payment
  • Dogecoin returns better almost 1.5 times average American income

Cryptocurrency is going big guns if we consider the returns it offers to investors. Compare the returns provided by Amazon and Dogecoin! Amazon took 13 years to deliver 10,000% returns to its investors, while Dogecoin took less than half that period.

Yahoo Finance reports that Dogecoin has hit an all-time high on Tuesday and touched $0.60. Its market capital touched $70 billion and has become the fourth-most valued coin as per data released by Yahoo Finance’s data partner CoinMarketCap. Interestingly this is more than the market cap of Moderna, shipping COVID-19 vaccines worldwide.

A user who invested $1,000 on Doge to begin the year is today worth more than $100,000. The price of the crypto coin then was less than one penny. At a base price of $0.56 price, the position would be worth $103,703.

According to the data released by U.S. Census Bureau last, the average American household income was $69,000. On the other hand, an investment of $1000 on Dogecoin will deliver twice the average American household income. In just five months.

What seems impossible has been achieved by Dogecoin. The surge was amply supported by tweets by Tesla CEO Elon Musk earlier this year. Another strong supporter of the crypto coin was Dallas Mavericks, owner and Shark Tank star Mark Cuban. Mark Cuban referred to investing in DOGE as better than investing in a lottery on “The Ellen Degeneres Show.”

To be fair to DOGE, it is not all hype, and solid work has been done to ensure this phenomenal rise. Many sports franchises are adopting cryptocurrency as a form of payment. The latest in this trend is The Oakland A’s, which has started accepting Dogecoin as a form of revenue and The team’s president Dave Kaval has confirmed this on Twitter.


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