Dogecoin & GameStop come from largely different asset classes. However, they share a variety of similarities.
Prices for both have risen significantly in recent decades, mostly due to criticism from regular investors of the financial sector overall. When it comes to price appreciation, which asset accomplished this purpose most successfully? Let’s get on with our research.
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- If you invested $1000 in DOGE when Elon Musk first tweeted about it in 2019, here’s how much you’d have today.
Due to price increases brought about by billions of dollars invested in the projects, DOGE and GME both saw significant profits in 2020 and 2021.
GME’s price went from less than $20 at the start of the year to about $500 on January 28, 2021. In less than a month, there was a price increase of over 2,700%.
From less than $0.05 in February 2021 to an all-time high (ATH) of roughly $0.75 in April 2021, the price of DOGE climbed over 1,400%.
At the time, the media gave these price adjustments a lot of coverage. Elon Musk’s remarks and a social media viral effect were primarily to blame for the price swings of DOGE.
Large purchases from the r/WallStreetBets Reddit community were the reason behind the price increases for GME. In addition, a few brokerages started putting limitations on stock purchases, which enraged investors and hastened the ascent.
fortunately, the initial enthusiasm hasn’t been as great since the significant price increases a few years ago. Even though they are still significantly higher than where they were in 2020, both assets have had significant declines from their peaks in the first half of 2021.
Despite this, demand in the assets remained even after they reached their zenith, and they have both surprisingly performed well over the past two years.
Two years ago, you would have invested an amount of $2,860, with $1,000 going into DOGE and $1,000 into GME. As a result, the investments in GME and DOGE would be worth $1,200 and $1,660, accordingly.
Two years ago, DOGE was around $0.09; today, it is approximately $0.15. The cost of GME increased progressively during the period, going from $25 in May 2022 to $30 in May 2024.
But additionally, it’s necessary to keep in mind that when Roaring Kitty appeared on social media in May 2024, the price of GME skyrocketed. Expert in finance Roaring Kitty performed an important part in introducing GME to the public in 2020 and 2021. GME cost an additional $30 at the point of writing, up from less than $11 at the beginning of May. Therefore, waiting until mid-May to invest in GME would not have been wise.
The total return on the assets would have been over 40%, surpassing the gains of the S&P 500 by slightly more than 30% during the same time frame.
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