What is Dogecoin Profit and Why Should You Care?
Calculating your Dogecoin profit is crucial for every crypto enthusiast.
How to Calculate Dogecoin Profit
The formula:
[ \text{Dogecoin Profit (DP)} = \text{Initial Investment (I)} \cdot \left( \frac{\text{Selling Price (SP)}}{\text{Buying Price (BP)}} \right) ]
Where:
- Initial Investment (I) is the amount of money you initially put into buying Dogecoin.
- Selling Price (SP) is the price at which you sell Dogecoin.
- Buying Price (BP) is the price at which you bought Dogecoin.
Calculation Example
Say you invested 5,000 USD when Dogecoin was 0.25 USD per coin. Now, Dogecoin has jumped to 1.50 USD per coin.
[ \text{Dogecoin Profit (DP)} = 5{,}000 \cdot \left( \frac{1.50}{0.25} \right) ]
1.50/0.25 = 6
5,000 * 6 = 30,000
Your 5,000 USD investment is now worth 30,000 USD.