{"id":141651,"date":"2023-09-01T21:10:04","date_gmt":"2023-09-01T15:40:04","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=141651"},"modified":"2023-09-01T21:10:04","modified_gmt":"2023-09-01T15:40:04","slug":"dogecoin-millionaires-fortune-fell-from-3m-to-50000-but-he-hasnt-lost-the-faith-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/dogecoin-millionaires-fortune-fell-from-3m-to-50000-but-he-hasnt-lost-the-faith-crypto-news\/","title":{"rendered":"Dogecoin Millionaire’s Fortune Fell From $3M to $50,000\u2014But He Hasn\u2019t Lost the Faith – Crypto News"},"content":{"rendered":"
\n

Glauber Contessoto went all in on <\/span>Dogecoin<\/span><\/a> after Elon Musk started <\/span>pumping<\/span><\/a> the cryptocurrency on Twitter back in 2020.\u00a0<\/span><\/p>\n

After using all his savings and credit card to plug $250,000 into the cryptocurrency, his holdings shot up to $3 million at one point\u2014but \u201cdiamond hands\u201d Contessoto, 35, <\/span>refused to cash out<\/span><\/a>.\u00a0<\/span><\/p>\n

Now, with Dogecoin (DOGE) down by over 90% from its May 2021 all-time high of $0.73, the Las Vegas resident has watched the value of his holdings drop to as low as $50,000.<\/span><\/p>\n

Contessoto\u2014who calls himself \u201cSlumDOGE Millionaire\u201d and runs the The Dogecoin Millionaire YouTube channel\u2014even admitted his dismay yesterday on Twitter. <\/span>But he says he still has faith.<\/span><\/p>\n

\u201cDOGE will definitely become the money on Twitter,\u201d Contessoto told <\/span>Decrypt<\/span><\/i>. \u201cI truly believe it.\u201d<\/span><\/p>\n

Maybe the Las Vegas resident has a point: DOGE was created as a joke, but Twitter\u2019s <\/span>eccentric new owner<\/span><\/a> has long <\/span>talked<\/span><\/a>\u2014sometimes seriously\u2014about how the original <\/span>meme coin<\/span><\/a> will become the cryptocurrency of choice for payments.\u00a0<\/span><\/p>\n

And Musk may be working on integrating it with Twitter after news <\/span>dropped<\/span><\/a> earlier this year that the social media platform was working on a product in a way that was supportive of crypto payments.<\/span><\/p>\n

\u201c<\/span>It would make sense that it will be a payment method on X,\u201d he said, using Musk’s new name for the platform.<\/p>\n

For now, though, the asset\u2014the ninth largest cryptocurrency with a market cap of $9 billion\u2014is largely speculative: its price has historically shot up and down largely on what Musk says, and people often get involved with the hopes of getting rich quick.\u00a0<\/span><\/p>\n

Despite watching his investment plunge, Contessoto is one of those people.<\/span><\/p>\n

\u201cDoge will go to $1 on the next bull run,\u201d he said. \u201cI\u2019m sure of it.\u201d<\/span><\/p>\n

\u00a0<\/span><\/p>\n

\u201cCrypto markets are cyclical,\u201d he added. \u201cI went into it understanding this concept, I just miscalculated how low we would actually go.\u201d<\/span><\/p>\n

Next time, he said, he would sell\u2014but not necessarily all of it. \u201cWe [the DOGE community] were always rallying for a dollar,\u201d he added. \u201cI want to introduce more healthy habits in crypto and taking profits is one\u2014without getting shamed.\u201d<\/span><\/p>\n

\n
<\/p>\n

Stay on top of crypto news, get daily updates in your inbox.<\/h3>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Glauber Contessoto went all in on Dogecoin after Elon Musk started pumping the cryptocurrency on Twitter back in 2020.\u00a0 After using all his savings and credit card to plug $250,000 into the cryptocurrency, his holdings shot up to $3 million at one point\u2014but \u201cdiamond hands\u201d Contessoto, 35, refused to cash out.\u00a0 Now, with Dogecoin (DOGE) […]<\/p>\n","protected":false},"author":2,"featured_media":141652,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-141651","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/141651","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=141651"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/141651\/revisions"}],"predecessor-version":[{"id":146891,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/141651\/revisions\/146891"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/141652"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=141651"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=141651"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=141651"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}