You Asked: What If I Invest $10 In Dogecoin (DOGE)?

Last Updated May 22nd 2024
6 Min Read

When you choose to invest $10 in Dogecoin today, two things happen. First, you create an additional income stream that you can grow through active trading. Secondly, you set yourself up for massive future gains when Dogecoin eventually rises to unimaginable levels, as predicted by some crypto experts.

In the last year, for instance, DOGE price increased by more than 3200%, implying that if you invest in the coin today and it replicates this performance over the next 12 months, you could grow this investment to $400 - effectively making a $390 profit ($400-$10).

What Is The Right Amount To Invest In Dogecoins (DOGE)?

There is never a standard limit or the right amount to invest in Dogecoin or any other cryptocurrency. You could invest as little or as high as your trading experience, preferred trading platform, risk tolerance, disposable income, and investing goals allow.

Nevertheless, crypto experts will most likely advise you to invest between 1% and 30% of your liquid assets in cryptocurrencies like Dogecoin. Chamath Palihapitiya - a Canadian venture capitalist and founder/CEO for Social Capital - argues that everyone (regardless of whether they believe in cryptocurrencies or not) should dedicate at least 1% of their portfolio to crypto investing.

However, more risk-tolerant and professional crypto traders have the leverage to invest as much as 30% of their portfolio in Doge as they know to manage the risks associated with doge investments.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

How Much Would You Have Today If You Invested In Dogecoin (DOGE)?

If you had invested in Dogecoin (DOGE) in December 2013, when the coin was worth just about $0.00020 per token, you would have nearly made over 74,900% return on your capital. A $1,000 investment on Dec. 16, 2013, would be worth around $7,490,000 today.

Can I Buy Dogecoin (DOGE) With $1?

Many crypto exchanges and brokerages, Binance and eToro for example, will let you buy Dogecoin with as little as $1.

Note, however, that these crypto trading platforms have relatively higher minimum initial deposits despite the low trading amount limits. Binance, for instance, asks that you first deposit at least $15, even though you only want to buy doge worth $1.

Can I Buy Dogecoin (DOGE) Worth $100?

Yes, you can buy Dogecoin worth $100. If you are looking to buy actual Doge tokens, i.e. take possession of both their public and private keys, you are better off transacting on a crypto exchange like Binance or eToro or a peer-to-peer exchange that lists doge. If you, on the other hand, are looking to actively trade Dogecoin derivatives like DOGE CFDs worth $100, register an account with such CFD trading brokerages as eToro.

Can You Lose Money On Dogecoin (DOGE)?

Yes, it is possible to suffer a permanent loss when investing in Dogecoin. You lose your money impermanently when the value of Dogecoin falls below your buying price. For instance, anybody who bought their Dogecoins at its peak price of $0.7374 in May 2021 is enduring an impermanent loss of 68% today. The good thing is that you can recover this loss if Dogecoin price rises above this current all-time-high.

Permanent loss on Dogecoin investment, on the other hand, occurs when you decide to sell the Dogecoin token after a value drop. For instance, if you buy bought DOGE at $0.73 and decide to sell them today at the current value of $0.15, you will have permanently lost 79.45% of your invested capital. Other factors that can lose you money invested in Doge include hacking, crypto scams, or loss of password and recovery seed to wallet holding your Dogecoins.

Read Also: Is Dogecoin (DOGE) Safe?

Will Dogecoins (DOGE) Make Me Rich?

There is still a possibility that Dogecoin investing will make you rich in the future. You could get rich by actively trading the cryptocurrency or by buying and holding the coin and waiting to ride its next price rally.

How Much Would I Have If I Invested $1000 In Dogecoin (DOGE)?

In answering this question, we look at how much you would have made investing in Dogecoin if you entered the market at two critical points. First is during its launch in 2015 when CoinMarketCap indicated that one Doge token was selling for $0.00020. If you bought Doge worth $1000 at the time, that investment would have appreciated by 118500% today to reach $1.185 Million.

If you bought Dogecoins worth $1000 at the beginning of the token’s early 2021 price rally, this investment would have grown by 4000% to reach $40,000.

What Will Dogecoin (DOGE) Be Worth In 2025?

When Finder, an online personal finance website, recently polled a group of 42 crypto experts, they predicted that the coin’s value would continue rising and probably reach $2.21 by 2025.

However, a technical analysis report of Dogecoin’s future price performance is not as optimistic and expects the coin prices to grow by 386% to reach $1.86 by the end of December 2025.

What Was the Highest Value For 1 Dogecoin (DOGE)?

After a spirited price rally earlier in the year, prompted by a series of endorsements from Elon Musk, celebrity investor Mark Cuban, artists Snoop Dogg and Soulja Boy, and YouTubers like Jake Paul, Dogecoin hit an all-time high of $0.7376 on 8th May 2021.

Is It Smart To Invest In Dogecoin (DOGE)?

No, multiple crypto experts have cautioned individuals from investing in Dogecoins, arguing that it doesn’t have the features of a long-term investment. Adam Zadikoff, the Chief Operating Officer at BRD, for instance, is confident the wave of social media buzz and celebrity endorsements that helped get it to the current heights won’t last, which makes Doge a bad long term investment because it has no real value outside the buzz and endorsements.  

The Motley Fool has also asked crypto-enthusiasts not to invest in the 9th largest altcoin because “its fundamentals aren’t as strong as other (crypto) currencies.”

Check Out: The 5 Best Ways to Buy Dogecoin

Can I Buy $500 Worth Of Dogecoins (DOGE)?

Yes, you can buy Dogecoins worth $500 at a crypto exchange or brokerage in a rather simple and straightforward process. Start by identifying the best Dogecoin trading platform, create a trader account and verify your identity, deposit $500, buy Dogecoins.

How Many Dollars Are 200 Dogecoins (DOGE)?

200 Dogecoins are currently worth $30.

Is One Dogecoin (DOGE) Enough To Own?

No. It is not enough to own one Dogecoin because of its relatively low price today and limited future price growth. For instance, over the next 10 years, crypto experts interviewed by Finder said that they expect the altcoin prices to reach $3.60, which is not enough for the altcoin to be considered a tangible asset.

How Do I Convert Dogecoin (DOGE) To Dollars?

The process of converting your Dogecoin to hard cash (USD) is relatively easy and straightforward. You start by identifying a crypto exchange or peer-to-peer trading platform that facilitates the buying and selling of Dogecoin.

Create an account here and verify your identity, deposit the Dogecoins into the account and open a sell position. When an interested buyer comes along, the exchange will deposit your cash in your trader account from whence you can withdraw them to your bank account or the preferred payment method.

Who Owns Most Dogecoins (DOGE)?

According to the Wall Street Journal, a mysterious individual/entity holds 28.28% of Dogecoins in circulation in the wallet in this wallet “DH5yaieqoZN36fDVciNyRueRGvGLR3mr7L” At the time of writing, the wallet address is estimated to hold 37.123 Billion Doge tokens valued at $8.798 Billion.

eToro – Best Exchange To Buy Dogecoin

eToro have proven themselves trustworthy within the Crypto industry over many years – we recommend you try them out.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Read More:

Why We Think Dogecoin Could Be The Next Big Thing

3 Reasons To Buy Dogecoin, And 1 Reason To Sell

Can Dogecoin Realize the Target of $10 Any Time Soon?

Dogecoin Price Prediction

5 Reasons Why Dogecoin Could Double Your Money