Glauber Contessotorecently highlighted the importance of conviction in cryptocurrency investing, specifically referring to his initial confidence in Dogemoneta DOGE/USD.
What happened: In a tweet on Thursday, Contessoto shared his experience of being ridiculed for his early sentencing Dogemoneta in 2021. He highlighted how his firm belief ultimately paid off, turning the tables on his critics. He also stressed the importance of trusting your instincts when it comes to investing in a particular cryptocurrency.
See also: Crypto Analyst Says Shiba Inu Expected to Rise 155% as Meme Coin Establishes Strong Support Levels
Contessoto, who was once known as the “Dogecoin millionaire,” at one point saw his fortune drop dramatically from $3 million to $50,000. Despite this, he remained optimistic about Dogecoin’s potential, saying it would rebound.
So far this year, Dogecoin has been on a tear, up 121.4% since January 1st. The meme coin has eclipsed the gains of larger cryptocurrencies like Bitcoin Bitcoin/USD and Ethereum ETH/USDwhich increased by 68% and 55% respectively over a similar period.
Because matter: Contessoto’s belief in Dogecoin has been a significant part of his investment journey. He previously predicted that he would regain his “millionaire” status if Dogecoin reached 20 cents. His recent tweet highlights the importance of conviction in making investment decisions, especially in the volatile world of cryptocurrencies.
Contessoto, known on
Price Action: At the time of writing, Dogecoin was trading up nearly 1% at $0.20, according to data from Benzinga Pro.
Photo courtesy: Shutterstock.com
Read next: Hold onto your Dogecoin: It will be the ‘first meme coin to reach $100 billion market cap,’ says trader
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