Investor misses the dogecoin jackpot
Dogecoin cryptocurrency is the first meme coin that exists in the crypto market. Moreover, as we write these lines, the token has already passed 10 years of existence, making it one of the oldest of the millions of cryptocurrencies in existence. As a result, as with Bitcoin, there are very old holders who were able to buy the coin at a ridiculous price before the price increased tenfold over the years. Today we’re going to focus on one of those former holders. He could earn several million dollars with a limited investment. However, he woke up late and had to sit on part of his profits.
As a reminder, since its existence, the price of Dogecoin has risen from a price of $0.00029 to a peak price of $0.73 at the time of its ATH in 2021. At the time of writing, the coin is trying to get back on track and is trading at $0.15 .
To go further: here’s how to buy dogecoin, the world’s first meme coin.
But what did this investor do wrong?
The investor in question started his dogecoin adventure in 2013, 21 days after the token was launched. The holder paid money several times to get DOGE. That’s for a total of $5,000. After his last investment in 2015, the holder remained discreet and stopped transactions associated with the same coin.
While the dogecoin price has not budged for years, the situation has gradually evolved. Since 2017, the token has experienced an explosion resulting in regular new highs. Additionally, in 2021, the token experienced an all-time high price. Ultimately, this represents a positive development of more than 200,000% when buying at the lowest price.
Thus, during 2021, when the crypto market was booming, an investor could earn several million dollars thanks to these investments. However, the holder did not know how to seize his chance, and despite DOGE, which radiated over time, he did not sell a single coin at that time.
On the contrary, the sales of this wallet took place even as the crypto market was just starting to get back into shape. The owner of the wallet decided to sell all his DOGE tokens on October 28, 2023. This, even as the dog coin was preparing to move up. Overall, the investor made very nice profits ($370,000), but lost several million dollars in profit, or even $900,000 in the case of sales at the highest level reached in 2024.
Moral of the story: he makes a good keeper, but be careful not to miss your chance.
Disclaimer
Disclaimer: In accordance with The Trust Project guidelines, BeInCrypto is committed to providing unbiased and transparent information. This article aims to provide accurate and relevant information. However, readers are encouraged to check the facts for themselves and seek professional advice before making any decisions based on this content.