Dogecoin Millionaire Makes a Comeback, Plans Strategic Sell-off

Dogecoin Millionaire Makes a Resurgence, Plans Strategic Sale

The "Dogecoin Millionaire" has experienced a tumultuous journey over recent years, with his wealth fluctuating from $3 million to hundreds of thousands. However, with the surge in the leading meme coin to levels not seen since 2021, he has reclaimed his title.

Glauber Contessoto invested his entire life savings and maxed out credit cards to acquire $180,000 worth of Dogecoin in late 2020 and early 2021. Within a year, the value of his investment skyrocketed to $3 million, but he refrained from selling.

Subsequently, his fortune dwindled to $200,000, and Dogecoin lost momentum. For years, he endured criticism for holding onto the asset during the market downturn. Now that his title has been restored, Contessoto plans a different approach.

Contessoto, known better as ProTheDoge, regained his status last week when Dogecoin exceeded $0.20. As the meme coin continued to rise above $0.40, his holdings reached a peak value of over $2.1 million.

"Everything I said would happen is happening," Contessoto stated. "It feels incredibly gratifying. I can't replicate the initial euphoria of becoming a millionaire from nothing, but this is a remarkable sequel."

At the time of his initial millionaire status, Contessoto worked a full-time job, lived in a modest apartment, and drove an old Toyota. He documented his journey on YouTube, showcasing his holdings at the conclusion of each video.

"Many people invested because of me," Contessoto explained. "I felt an obligation not to sell. When the downturn came, Dogecoin plummeted, and I lost a significant sum. Many turned on me."

He recalls logging onto social media during DOGE's decline, facing a barrage of hate from individuals claiming to have lost money due to his influence.

At his lowest point, when DOGE traded at $0.055, his holdings were valued at approximately $200,000. With his finger hovering over the sell button, he hesitated. Instead, he purchased an additional 1.3 million DOGE, costing him $71,500.

With those challenging times behind him, Contessoto plans to sell a portion of his holdings.

"I've learned to take profits," he stated. "Will I sell my entire Dogecoin bag? Most likely not."

Contessoto is consulting with experienced traders to develop an exit strategy. He intends to gradually reduce his Dogecoin exposure when Bitcoin reaches its peak.