Glauber Contessotoa well-known large cryptocurrency investor, recently tweeted about his potential to regain a wealth milestone if the price of Dogemoneta (DOGE) reaches 20 cents.
What happened: On Sunday, Contessoto posted on X, formerly Twitter, that if Dogecoin’s value rose to 20 cents, his holdings in the cryptocurrency would be worth a whopping $1 million. Contessoto, also known as the “SlumDOGE Millionaire,” has spoken openly about his large investments in the digital currency.
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In an earlier tweet, he also revealed that his entire cryptocurrency assets amount to $1.6 million, including investments in Dogecoin and Cardano (ADA).
Contessoto revealed, in July 2021, that he is no longer a Dogecoin millionaire. Despite losing his millionaire status in June due to a sell-off in cryptocurrency markets, Contessoto has remained committed to holding onto his Dogecoin holdings for over a year, according to an earlier report from Benzinga.
Because matter: This post by Contessoto comes on the heels of a significant increase in the price of Dogecoin, which has increased by 62% in the last week. This increase in value was influenced by the overall strength of the cryptocurrency market Bitcoin (BTC) reaching $64,000 and Ethereum (ETH) reached $3,500.
Dogecoin’s recent price surge has pushed its market capitalization to $18.3 billion, surpassing large companies like MicroStrategy AND Robin Hood. This saw the coin rise to the tenth largest cryptocurrency.
The potential milestone of Contessoto’s wealth with the expected rise in the price of Dogecoin demonstrates the high stakes and potential returns of the volatile cryptocurrency market. His investment strategy, which includes buying on dips, has seen his fortunes fluctuate with the ebb and flow of the cryptocurrency market.
Price action: Dogecoin traded up 11.5% at $0.155 at the time of writing over a 24-hour period, according to Benzinga Pro data. The meme coin is up 82.1% over the past seven days.
Photo by milan2102 on Shutterstock
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