Here's how much Dogecoin could be worth $100 today if DOGE hits new all-time highs

Cryptocurrency Dogecoin DOGE/USD is once again having a moment as the meme cryptocurrency has surged over 80% in the last week, helped by increased interest in the cryptocurrency since then Donald Trump's election victory in 2024 and Elon Muskexpected role as head of the Department of Government Efficiency, or DOGE for short.

Despite Dogecoin's rising valuation in recent weeks, the meme crypto is still trading well below its all-time high in May 2021.

Here's a look back and how much $100 invested in DOGE today will be worth when new highs are reached.

What happened: Dogecoin hit a new one-month high of $0.3011 in the last 24 hours as the cryptocurrency sector remains hot and traders speculate on further gains as Trump becomes president and Musk joins the government.

Dogecoin grew in popularity in 2021, resulting in an increase in the meme cryptocurrency's value.

The cryptocurrency began trading at $0.0047 at the start of 2021 and quickly rose in value after becoming a trending topic on social media and Google. The price of the coin was also increased by prominent personalities like Mark Cuban and Musk tweets about Dogecoin.

An appearance by Musk on “Saturday Night Live” proved to be the ultimate event for Dogecoin. It brought new fans to the cryptocurrency and marked an all-time high before falling.

After an unforgettable 2022 in which the price of many cryptocurrencies fell due to the bankruptcy of crypto-related companies and falling interest rates, Dogecoin experienced a resurgence in 2023.

The coin has helped by taking over the social media platform Twitter by Musk, which led to Twitter briefly changing its logo to the Dogecoin protocol, driving up the price significantly.

The logo change fulfilled a promise previously made by Musk and also sparked speculation that the addition of payments to X, formerly known as Twitter, could include the integration of Dogecoin.

Musk's support for Dogecoin has not gone unnoticed over the years and often results in higher prices for the meme cryptocurrency.

The price of Dogecoin has risen in recent weeks and is the leading cryptocurrency Bitcoin BTC/USD reaches new all-time highs the 2024 presidential election.

Also Read: Dogecoin Price Prediction

Invest $100 in Dogecoin: There is a possibility that Dogecoin peaked in 2021 and will never reach all-time highs again.

On the other hand, Dogecoin could also skyrocket if more retailers accept it as a payment option or if crypto is integrated into social media platforms like X.

A $100 investment in Dogecoin could buy 346.2604 DOGE based on a price of $0.2888 at the time of writing. If Dogecoin can return to all-time highs, today's $100 investment would be worth $255.40.

This represents a hypothetical return of 155.4% from the current market price.

Although there is no guarantee that Dogecoin will continue to rise in 2024 or in the future, investors could still enjoy a few more “much wow” moments.

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This article was previously published and updated by Benzinga.

Image created with artificial intelligence via Midjourney.