On Facebook three and a half years ago I joked about putting my life's savings into dogecoin, when it was priced at $0.015 per coin. I had no intention of doing it, as far as I was concerned it was just a novelty coin without any obvious potential. Little did I know at that stage that Elon Musk would start promoting it and a couple of days ago it rose to $0.70 per coin. My calculations could be off here, but if I had put $1,000 into dogecoin when it was priced at $0.015 I think I could have made somewhere in the region of $260,000. Or if I had been paying attention when Elon Musk started promoting it and thought "okay, this coin is about to start going places" I probably still could have made tens of thousands from it. But, I didn't. Realistically, even if I had decided to invest three years ago I would have put $150 or $200 on it rather than $1,000 which is plenty considering that the coin's 'value' has risen by 26,000% since then. $150-200 is what I was thinking of putting into XRP back then, but I would have seen no return on that investment as of yet because at that time XRP was standing at around $3 and it dropped in price after that and never went past $2 again.
If Musk accepts dogecoin as payment at Tesla from people purchasing their cars, which he has talked about doing, then the price will keep going up. I wouldn't be surprised if he's already holding a billion dollars worth of dogecoin himself; he's not promoting the coin for the fun of it. Accepting dogecoin as payment at his company (he's no longer accepting Bitcoin -- for "environmental/energy reasons" apparently) means that more people might start making the switch from Bitcoin to dogecoin which would increase his holdings by tens of billions of dollars. Whenever he decides that dogecoin has reached its limit he could cash out if he wants to and move on to something else which would crash the coin. People complain about billionaires like Jeff Bezos and Bill Gates but to me there's something more sinister about the 49 year old billionaire with the hipster girlfriend who uses memes and irony and "hello, fellow kids" references to conceal how cutthroat he truly is while he uses his platform to manipulate cryptocurrencies. Of course, if I had bought into dogecoin three years ago or even a few months ago, in all probability I would be singing a different tune about Elon Musk right now.