Dogecoin (DOGE) vs. GameStop (GME): Comparing Returns on a $1000 Investment Made 2 Years Ago

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Dogecoin (DOGE) and GameStop (GME) may belong to different asset classes, but they share notable similarities, especially in their significant price surges driven by retail investors challenging traditional financial norms. Let’s examine which asset has seen greater price appreciation over the years.
Dogecoin (DOGE) vs. GameStop (GME) Comparing Returns on a $1000 Investment Made 2 Years Ago
Dogecoin (DOGE) vs. GameStop (GME) Comparing Returns on a $1000 Investment Made 2 Years Ago

In 2020 and 2021, both DOGE and GME experienced remarkable growth as billions of dollars poured into these assets, propelling their prices to unprecedented levels.

GameStop’s price skyrocketed from under $20 at the beginning of 2021 to nearly $500 on January 28, 2021, representing an astonishing increase of over 2,700% in less than a month.

Similarly, DOGE surged from under $0.05 in February 2021 to an all-time high of nearly $0.75 in April 2021, marking a remarkable gain of 1,400%.

These rapid price movements garnered widespread media attention. For DOGE, Elon Musk’s tweets and social media virality played significant roles in driving the price surge. GME’s surge, on the other hand, was fueled by a wave of buying from the Reddit community, notably r/WallStreetBets. Some brokerages limiting buying activities on GME further exacerbated the rally and investor sentiment.

Although the hype has subsided since the peaks of early 2021, both assets have remained substantially above their 2020 levels. Despite fluctuations, they continue to attract interest and have performed remarkably well over the past two years.

If you had invested $1,000 in each of DOGE and GME two years ago, your total investment would now be worth $2,860. Specifically, your DOGE investment would be valued at $1,660, while your GME investment would stand at $1,200.

Over the past two years, DOGE’s price has risen from $0.09 to $0.15 today. During the same period, GME’s price has climbed from $25 in May 2022 to $30 in May 2024.

Notably, GME’s recent surge in May 2024, triggered by the return of Roaring Kitty to social media, pushed the price from under $11 to over $30. Therefore, the GME investment would have turned profitable only in mid-May.

Together, these investments have yielded a return of over 40%, surpassing the S&P 500’s gains of just over 30% during the same period. This underscores the remarkable growth and volatility inherent in these alternative investment assets.

 

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