If You Invested $100 in Dogecoin 8 Years Ago, Here’s How Much You’d Have Now

One week from today, we’ll turn the page on what’ll certainly be another successful year for investors. The broad-based S&P 500 was higher by a cool 22% through Dec. 20, which effectively doubles up its average annual total return, including dividends, over the past four decades.

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But the gains have been even more robust for cryptocurrency investors. With an aggregate market value of $2.2 trillion, the total value of all cryptocurrencies has surged higher by 184% in 2021.

Shiba Inu-themed coins have been incredibly popular in 2021. Image source: Getty Images.

Dogecoin has delivered life-altering gains since Dec. 2013

Yet if you focus on the most popular digital currencies and pan out a bit further, the gains become even more impressive.

Take meme coin Dogecoin (CRYPTO:DOGE) as an example. Pretty much any cryptocurrency that’s utilized the Shiba Inu dog breed as its inspiration or the face of its campaign performed exceptionally well in 2021. At one point, Dogecoin had gained approximately 27,000% in just a six-month stretch between early November 2020 and early May 2021.

But the gains have been even bigger for patient holders of DOGE. Looking back eight years, CoinMarketCap.com notes that a single DOGE token could be purchased for $0.0004512. But as of the time of this writing, Dogecoin was trading hands for $0.1676. In eliminating three zeroes, one of the most-popular digital currencies on the planet gained more than 37,000%.

To put this into context, if investors purchased $100 worth of Dogecoin on Dec. 22, 2013 and simply held through periods of wild volatility, they’d be sitting on $37,145 today. That’s a higher aggregate total return than the S&P 500 since the beginning of 1965 — and it took 48 fewer years to achieve this superior return.

Image source: Getty Images.

Here’s what’s driven Dogecoin more than 37,000% higher

Numerous catalysts have lit a fire under Dogecoin over the past eight years. However, most of…