A number of rappers have purchased main cryptocurrency Bitcoin BTC/USD through the years, however fewer have purchased meme cash like Dogecoin DOGE/USD, which is beloved by billionaires like Mark Cuban and Elon Musk.
One rapper took an opportunity on Dogecoin in 2021, however his timing might have been among the many worst.
What Occurred: Logic, 50 Cent and Nas, who additionally invested in cryptocurrency companies, are among the many rappers who’ve purchased Bitcoin or rapped concerning the cryptocurrency through the years.
Rapper Meek Mill introduced on Might 4, 2021, that he purchased Dogecoin.
“I simply grabbed some doge I am uninterested in lacking out,” Meek Mill tweeted.
The rapper spent $50,000 on 92,411 Dogecoin based on a report from XXL Magazine.
Meek Mill tweeted a day later “what’s up wit doge coin” asking his followers why the cryptocurrency was transferring, sharing a display screen shot from his account.
Dogecoin traded between $0.400800 and $0.65998 on Might 4, 2021, the date of the rapper’s buy. Irrespective of when traders purchased Dogecoin they might be down in the event that they selected to comply with the rapper.
A $1,000 funding may have purchased 1,650.17 DOGE on Might 4 primarily based on the very best value of the day. The $1,000 funding could be down 82% for the reason that rapper’s tweet.
Whereas it’s unknown if Meek Mill nonetheless holds any Dogecoin, the rapper could be down on his place and sure took a loss if he offered, relying on when his sale was made.
Learn Additionally: If You Invested $1,000 In Dogecoin When Mark Cuban And The Dallas Mavericks Welcomed The Meme Crypto, Here’s How Much You’d Have Now
Meek Mill’s Bad Timing: Dogecoin went on to hit all-time highs simply days after the rapper made the acquisition. The all-time excessive was $0.7376 on Might 8, a date which coincided with Musk showing on “Saturday Night time Stay” and mentioning the meme coin.
The Might 4, 2021 tweet signaled Meek Mill was uninterested in lacking out and his timing might have missed out on some enormous income.
On Jan. 8, 2021, Meek Mill tweeted about cryptocurrency.
“I want all people that rock wit me to find out about shares and crypto foreign money!” the rapper tweeted.
The rapper did not find out about cryptocurrency — or not less than Dogecoin — as his first funding would not come for 4 extra months.
Dogecoin traded between $0.009177 and $0.010867 on Jan. 8, 2021.
A $1,000 funding by the rapper at that day’s excessive value may have purchased 92,021.72 DOGE. The Dogecoin funding could be price $10,011.96, up 901.2%.
If Meek Mill purchased the identical $50,000 in Dogecoin on the excessive value on Jan. 8, 2021, he may have purchased 4,601,085.86 DOGE.
That very same funding could be price $500,598.14 right this moment and would have been price $3,393,760.93 on the coin’s all-time excessive.
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Picture: Meek Mill, photograph by Jake Giampa by way of Shutterstock
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If You Invested $1,000 In Dogecoin When Rapper Meek Mill ‘Grabbed Some Doge,’ Here’s How Much You’d Have Today Meek Mill’s Bad Timing Buying Dogecoin: How Much Is It Possibly Price? www.benzinga.com 2024-10-09 23:35:58
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