Over the past several years, several cryptocurrencies have seen significant price increases. These tokens have consistently outperformed other cryptocurrencies and most other asset classes. Surprisingly, some of these tokens offer little intrinsic value to their investors and instead benefit from strong communities that refuse to sell. This has led many to wonder what an investment would look like if they had invested when the tokens were still small projects. Let’s look at three of these tokens and what an investment in the past would be worth today.
Don’t Miss:
The first token that performed very well was Dogecoin (DOGE). Though the token was launched in 2013, it wasn’t until 2020 that it began to take off and receive significant attention. Dogecoin benefited from tweets by Elon Musk and virality on social media.
If you invested $1,000 in DOGE at the beginning of 2024, your investment would be worth $1,793.47. Additionally, if you invested $1,000 in December 2020, you would have $35,752.89.
Next is Shiba Inu (SHIB), another memecoin launched in August 2020. The token relies on its strong community and roots in memes to propel the price but has also devoted significant resources to building out an ecosystem that includes a decentralized exchange (DEX), NFT collections and merchandise. This has contributed to the token’s success in recent years.
An investment of $1,000 into SHIB at the beginning of 2024 would currently be worth $2,528.08. Additionally, $1,000 invested in December 2020 would be worth $226,890,756.30!
Trending: If you invested $1000 in DOGE when Elon Musk first tweeted about it in 2019, here’s how much you’d have today.
Lastly, there is Solana (SOL). This token powers the Solana blockchain, which provides users with extremely fast speeds and low-cost transactions. The project took a hit in late 2022 when FTX and Sam Bankman-Fried, who had invested heavily in it, faced setbacks. Despite this, the token saw a significant resurgence in 2024.
If $1,000 were invested in SOL at the start of 2024, it would be worth $1,662.39. Additionally, $1,000 invested in December 2020 would be worth $154,788.11.
For comparison, if you invested $1,000 in the S&P 500 at the beginning of 2024, you would have $1,106.80, and $1,445.20 if you invested $1,000 in December 2020.
These are just three of the many tokens that have brought huge returns to investors. Many more tokens could provide similar returns, though it is unlikely that any given token will perform this well or even go up at all. It is important to consider your own risk tolerance and investment goals before investing.
Read Next:
“ACTIVE INVESTORS’ SECRET WEAPON” Supercharge Your Stock Market Game with the #1 “news & everything else” trading tool: Benzinga Pro – Click here to start Your 14-Day Trial Now!
Get the latest stock analysis from Benzinga?
This article Here’s How Much $1,000 Invested In These Best Performing Cryptos Is Worth Today: Dogecoin, Shiba Inu, and Solana originally appeared on Benzinga.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Signup bonus from
