Categories: Analysis

Property “flies” $ 167,000 after just 1 night, this man still refuses to sell Dogecoin

Glauber Contessoto became a millionaire overnight with an investment in Dogecoin. However, this was no longer the case when the price of DOGE fell causing this 33 year old man to lose $ 167,000 after 1 night. However, he still refused to sell his DOGE number.

Property “flies” $ 167,000 after just 1 night, this man still refuses to sell Dogecoin

Glauber Contessoto, a 33-year-old American cryptocurrency investor, announced that he invested more than $ 250,000 in Dogecoin (DOGE) on February 5, believing he will become a millionaire. And on April 15th it became a reality.

However, since June 21st, large cap cryptocurrencies in the market including Bitcoin (BTC), Ether (ETH) and Dogecoin (DOGE) … began to decline after news of the crackdown on China.

At this point, Contessoto’s portfolio, which only contains Dogecoin, is severely affected. Specifically, the assets he held as of June 22nd were only $ 831,538.88.

Glauber Contessoto’s fortune on Robinhood on June 22nd

4 months ago Glauber Contessoto started buying Dogecoin for only $ 0.045 / DOGE. On May 8, the DOGE / USD exchange rate hit an all-time high of USD 0.73. At this point, the value of the Dogecoin held by the 33-year-old boy Contessoto has passed the $ 2 million threshold.

After a sudden surge, the price of Dogecoin has seen a lot of large fluctuations. However, Contessoto remains very confident of holding the cryptocurrency for the long term, inspired by a popular “meme” on the network. In fact, he bought even more Dogecoin during the last few discounts. Even now, after losing $ 167,000 overnight, he still refuses to sell them.

This volatility is also one reason why experts warn that investing in cryptocurrencies is a risky, speculative investment. Above all, one should be careful when investing in Dogecoin, as there is a lack of scarcity and developed technologies such as Bitcoin (BTC).

However, Glauber Contessoto is still very optimistic about Dogecoin, although theoretically he is no longer a “Dogecoin millionaire”.

“When I started this Dogecoin investment, I planned to be with it for at least a year. I put my savings here because I knew I would become a millionaire one day. ”- Glauber Contessoto shared.

At the moment he plans to hold the “meme” coin for more than a year.

“Whatever happens in the short term is not important to me as I plan to make Dogecoin ‘HODL’ for many years. At the end of the day, I’m really not worried. “

1D candlestick volatility of the DOGE / USDT pair on the Binance exchange

Contessoto is sticking to its original plan to sell 10% of its total Dogecoin when its portfolio reaches $ 10 million. The rest will continue in the long term.

According to CoinMarketCap, Dogecoin is currently trading at around $ 0.21, 71% less than its all-time high. Its total market cap is also more than $ 27 billion at the time of writing.

Synthetic

You may be interested in:

CoinX

Recent Posts

Gate.io Shatters Records in Total Trading Volume in Q3 2024, with Its User Base Surpassing 17 Million

In the third quarter of 2024, despite a challenging market environment, Gate.io maintained strong growth…

16 mins ago

MEXC Champions the Future of Crypto Content Creation at CCCC

MEXC is proud to partner with the inaugural Crypto Content Creator Campus CCCC event, taking…

16 mins ago

Dtec Announces Global Partnership with DİZAYNVIP to Elevate AI-Driven Mobility Design  

Dtec and DİZAYNVIP partner to merge AI technology with luxury vehicle design, revolutionizing smart mobility…

1 hour ago

Bitcoin Spot ETF Outflows Reach Second Highest in History

Bitcoin Spot ETF Outflows hit $541M on November 4, the second-highest single-day outflow in history.…

5 hours ago

PropiChain’s Token Presale Turns Heads as the First DeFi Platform to Merge NFTs with AI 

The hype around PropiChain’s token presale is due to its innovative integration of NFTs and…

8 hours ago

UK Pension Fund Cartwright Encourages 3% Allocation to Bitcoin Investment

UK pension fund Cartwright advised the country's first defined benefit pension fund to allocate 3%…

10 hours ago

This website uses cookies.