Dogecoin made 33-year-old Glauber Contessoto a millionaire for the first time. Contessoto first shared his story of how he became a millionaire through meme coins in April. This is only two months after Contesotto first found out about Doge. Eventually, he invested his life savings in meme coins. It has received tremendous returns.
The Dogecoin Millionaire first started investing in the coin after seeing Elon Musk’s tweet. To quote Contessoto, “One of the reasons I put my savings in Dogecoin is because of Elon Musk. I think this guy is a genius.”
For the next two months, Musk continued to tweet about the token at regulatory intervals. This caused the price of Dogecoin to skyrocket. At the height of Musk’s purchase of Dogecoin, the price of the coin rose more than 21,000%. Huge profits were made in just a few months.
Contessoto Refuse to Sell His Dogecoin
Dogecoin has grown so fast that the price of the coin topped $0.70 in May. At this point, Contessoto’s earnings had grown so quickly that he became a cryptocurrency millionaire. His initial investment exceeded $250,000 and has now exceeded $1 million.
The Doge quickly lost momentum because it is typically what they do when assets have grown too much in a short period of time. Although prices are falling daily, Contesotto refuses to sell his coins.
By June, prices had dropped so sharply that Contessoto lost his cryptocurrency millionaire status. The 33-year-old still refuses to sell. Although it turned out to have lost more than $167,000 in one day due to the drop in prices. Contessoto doesn’t seem too worried about that, he said, “If Bitcoin and Ethereum aren’t [struck], I’ll be worried.” So Contessoto continues on his way from crypto millionaire to lose that status.
Cardano is the New Favourite
Glauber Contessoto has now turned to another coin, Cardano. According to Contessoto, he believes the top five cryptocurrencies will be Dogecoin, Ethereum, Bitcoin, Cardano and Ripple in five years, following this exact order. Consider Dogecoin a better candidate for the number 1 cryptocurrency ahead of Bitcoin and Ethereum.
Contessoto stated that he wants to wait for ADA’s price to drop before buying. In any case, he’s still optimistic about the asset and he said the asset is still in its infancy.
“I’m going to be the biggest Cardano supporter,” Contessoto said. “I’m just waiting on a massive dip before buying into it.”