If You’d Invested $500 in Dogecoin 5 Years Ago, Here’s How Much You’d Have Today

That $500 Dogecoin gamble just became the ultimate 'what if' story.

From Meme to Millions

Five years back, dropping five hundred bucks on a joke cryptocurrency seemed like pure madness. Today? That same investment would make traditional finance brokers weep into their spreadsheets.

The Numbers Don't Lie

While Wall Street analysts were busy overcomparing price-to-earnings ratios, Dogecoin was quietly executing one of the most explosive runs in crypto history. The returns absolutely dwarf anything the S&P 500 coughed up during the same period.

Timing Beats Everything

Catching that early wave required ignoring every conventional investing rulebook. The ones who did are now sitting on gains that make hedge fund managers look like they're playing with pocket change.

Of course, your financial advisor would never recommend putting money into something that started as an internet meme—which is exactly why they're still charging you 2% fees for mediocre returns.

Image source: Getty Images.

Additionally, dogecoin does not have a strong technical network because it doesn't process many transactions per second (TPS), a key feature of many highly regarded blockchain networks. Dogecoin's network also lacks smart contract functionality, which is what enables decentralized applications.

Now, this could eventually change. MyDoge, the organization behind a free custodial Dogecoin wallet, has reportedly raised funds to build a layer-2 solution that WOULD enable smart contract functionality, but it's unclear if and when this would actually happen.

If you'd invested $500 in Dogecoin five years ago

From a fundamental perspective, it doesn't make a TON of sense why Dogecoin has delivered such incredible gains over the past five years, but it has. One explanation is that it was one of, if not the first cryptocurrency to truly take advantage of the power of virality and build a social media community, which has made the token thrive.

Dogecoin Price data by YCharts

As you can see, a $500 investment in Dogecoin five years ago would be worth over $44,000 today! That's a return of more than 8,730%, which crushes the broader benchmark index's five-year return of over 100%.