By Nermeen Nabil Khear TLDR:
- Glauber Contessoto regains “Dogecoin Millionaire” status as DOGE surges above $0.40
- Initially invested $180,000 in 2020-2021, peaked at $3M, dropped to $200,000, now at $2.1M
- Plans to sell partially this time, unlike his previous hold strategy
- Built successful influencer career during downturn with 115,000 YouTube subscribers
- Faced criticism for promoting some failed crypto projects but claims due diligence
Glauber Contessoto, widely known as the “Dogecoin Millionaire,” as Dogecoin’s price surge restored his fortune to over $2.1 million in November 2024. This revival marks a striking turnaround from the depths of the crypto market downturn.
Contessoto’s journey began in late 2020 when he made a bold move, investing his entire life savings and maxing out credit cards to accumulate $180,000 worth of Dogecoin. His initial investment paid off dramatically in 2021, as his holdings reached an impressive $3 million during the cryptocurrency boom.
However, the crypto market’s subsequent decline tested his resolve. Rather than selling at the peak, Contessoto held onto his position, watching his portfolio value plummet to approximately $200,000 as Dogecoin’s price fell to $0.055.
People laughed when I said $DOGE was coming back…
But I never sold, I just bought more
I have $1.2 Million in #DOGE currently
…and the bull run has just begun.
2021: $180K
$3 Million
2025: $1.2 Million
— SlumDOGE Millionaire (@ProTheDoge) November 10, 2024
During this challenging period, Contessoto faced intense criticism on social media from investors who had followed his lead. Despite the pressure to sell, he doubled down on his investment, purchasing an additional 1.3 million DOGE for about $71,500 during the market low.
The recent resurgence of Dogecoin above $0.40 has vindicated his persistence, pushing his holdings back above the million-dollar mark to $2.1 million. This time, Contessoto has announced plans to implement a strategic selling approach, consulting with experienced traders to determine optimal exit points.
Throughout the downturn, Contessoto transformed his notoriety into a successful career as a crypto influencer. His YouTube channel has attracted 115,000 subscribers, while his Twitter following has grown to over 350,000. By June 2023, he had generated $690,000 through sponsorship deals and merchandise sales.
His rise as an influencer hasn’t been without controversy. Crypto investigator ZachXBT highlighted Contessoto’s promotion of certain projects that later failed, including Safereum, which experienced a 95% price drop after team members sold 600 ETH of holdings.
In response to these criticisms, Contessoto maintains that he conducts reasonable due diligence before promoting projects, including examining liquidity locks, tokenomics, and team backgrounds. He emphasizes that he never engages in pump-and-dump schemes.
The broader crypto market has evolved since Contessoto’s initial rise to fame. Recent developments include discussions about potential Dogecoin ETFs following the approval of spot Bitcoin and Ethereum ETFs. This institutional interest marks a shift in how traditional finance views meme coins.
Spirit Blockchain Capital’s recent acquisition of Dogecoin Holdings suggests growing institutional interest in DOGE as a treasury reserve asset, following a strategy similar to MicroStrategy’s Bitcoin investments.
The post Dogecoin Investor Returns to Millionaire Status as DOGE Hits $0.40 appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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