Glauber Contessoto, who refused to sell his holdings despite briefly losing millionaire status during the market crash in May of this year, says he has continued to hold on to every single coin he has bought and will soon Never intend to sell them. But why is he holding on and what are his plans? Known in the world as the “Doge Millionaire”, Contesto said he sees the price of Dogecoin doubling “about 50 cents” in the next two months. He claimed in April that he became a Dogecoin millionaire in “just 69 days”.
Contesto, a resident of Los Angeles, told benzinga, a financial markets media organization, Dogecoin’s biggest asset is its branding and cryptocurrency It does exactly what it was made for – buying and selling things. low value of dogecoin Reduces the possibility of options for value or hoarding. People readily accept it as a medium of exchange and spend it on buying goods and services, whereas top crypto coins like Bitcoin And ether Primarily seen as a store of value.
While Contesto, 33, said he doesn’t understand technical analysis, he does focus on “market sentiment and pop culture shifts.” He added that his Dogecoin investment is largely influenced by the idea that the economy is now more dependent on social media trends and influencer marketing.
When the market crashed in May, Contesto urged the Dogecoin community to unite and not liquidate their investments. He said he had invested his lifetime savings – about $180,000 (about Rs 1.32 crore) – in Dogecoin, when it was worth around $0.045 (about Rs 3.66 crore) in February . By the end of April, their The initial investment was approximately $2 million. (about Rs 14.65 crore).
In July, Contesto said that he Buy more Dogecoin worth $5,300 (about Rs 3.94 lakh).
As reported by Benzinga, Contesotto thinks Dogecoin will be “a bridge for every newcomer” to the cryptocurrency in the coming years. He also said that he had 4,206,969 doges – worth over $987,000 (approximately Rs 7.39 crore) at the time. Writing this report.
Launched as a meme based on the Shiba Inu dog, Dogecoin hit an all-time high on May 8 at $0.72 (roughly Rs.52.74). Dogecoin price in India at the time of writing this report was approx.