Crypto Millionaire Loses Fortune After Betting Big on Dogecoin

Crypto Millionaire Loses Fortune After Betting Big on Dogecoin



Glauber Contessoto, a 35-year-old Las Vegas resident who goes by "SlumDOGE Millionaire," went all-in on Dogecoin back in 2020, encouraged by Elon Musk's tweets about the cryptocurrency. He invested $250,000—every last penny of his savings and credit card limits—into Dogecoin. At its peak, his investment soared to a staggering $3 million, but Contessoto, demonstrating what he calls "diamond hands," chose not to sell.



However, with Dogecoin's value plummeting more than 90% from its all-time high of $0.73 in May 2021, Contessoto has seen his investment shrink dramatically, at times hitting as low as $50,000. Despite the sharp decline, he remains optimistic. "I genuinely believe Dogecoin will become Twitter's currency," he told Decrypt.



Interestingly, Elon Musk, who has recently acquired Twitter and renamed it "X," has hinted at int


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#Altcoin, #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Ethereum, #Regulations

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