Famed Dogecoin (CRYPTO: DOGE) investor Glauber Contessoto is now not a Dogecoin millionaire however mentioned Tuesday he’s persevering with to purchase the dips within the meme coin.
What Occurred: Contessoto, who goes by the username “SlumDOGE Millionaire” on Twitter, mentioned he bought $5,000 value of Dogecoin throughout what he believes is the final dip. He thinks the meme coin “hit the very backside” at $0.16 early Tuesday morning.
Simply purchased what I contemplate to be the final dip. Let’s hope I’m proper lol #dogecoin pic.twitter.com/YxKRdYQeLt
— SlumDOGE Millionaire (@ProTheDoge) July 20, 2021
Contessoto added that Doge is his “financial savings account.”
#Dogecoin is my financial savings account, we’ll see the way it all pans out. It will both change the sport or be a prepare wreck, however till then I’ll take a rain test
— SlumDOGE Millionaire (@ProTheDoge) July 20, 2021
The Dogecoin investor mentioned earlier this month that he’ll “double down” by investing $25,000 within the meme cryptocurrency following the drop in its value. He had purchased $5,300 value of Dogecoin at $0.17 final week.
See Additionally: Why Is Dogecoin Hovering At present?
Why It Issues: Contessoto, who invested his life financial savings in Dogecoin earlier this yr, turned a Dogecoin millionaire after his holdings within the meme cryptocurrency touched $2 million in Could.
Regardless of misplaced his millionaire standing following the selloff within the cryptocurrency markets in June, Contessoto refused to promote his holdings within the Shiba Inu-themed cryptocurrency and mentioned he plans to carry it for greater than a yr.
Dogecoin’s surge to prominence this yr may be attributed to endorsements from Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk and different celebrities.
Whereas the cryptocurrency’s year-to-date acquire stands at 2,939.7%, it’s down virtually 76.6% from its all-time excessive of $0.7376 reached in Could.
Value Motion: Dogecoin is up 3.5% over the past 24 hours, buying and selling at $0.1749 at press time.
Learn Subsequent: Is The Rally In Dogecoin Knockoffs Over For Good?
Picture by Wayan Vota on Flickr
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