In 2021, an employee at a music company invested $250,000 into Dogecoin. At the time, Dogecoin was priced at 4.5 cents and was about to experience the largest price increase in memecoin history. Within three months of his investment, the employee was a dogecoin millionaire on paper. Quitting his job, he set up a personal brand online known as the “Dogecoin Millionaire.” This is the story of Glauber Contessoto and his journey as a Dogecoin investor.
Glauber Contessoto: The Dogecoin Millionaire
Glauber Contessoto took a huge gamble in February 2021 when he invested $250,000 in Dogecoin. Combining his savings with borrowed funds, Contessoto purchased Dogecoin at 4.5 cents. By May 2021, Dogecoin was trading at $0.7376.
In just three months Contessoto had become a Dogecoin millionaire, and quickly built his online reputation around this new development. However, instead of cashing out his earnings, Contessoto doubled down on his Dogecoin investment and planned to hold the memecoin in the long run.
Throughout 2021 Contessoto requested to be paid in Dogecoin when collaborating with cryptocurrency brands. This greatly boosted his portfolio, with projects like Acria Network paying Contessoto $25,000 in Dogecoin for a video. Contessoto was paid half of the amount upfront, and half once the video was complete.
Despite his initial success, Contessoto’s love for Dogecoin was also his downfall. After refusing to sell his Dogecoin holdings, Contessoto’s portfolio crashed from over $3 million to just $50,000. Now nicknamed the “SlumDOGE Millionaire”, Contessoto said looking back he wishes he sold some of his Dogecoin. Nonetheless, he believes that Dogecoin will hit $1 during the next cryptocurrency bull market, and as a result, he will make back his losses.
Could This New Memecoin Replicate Dogecoins Success?
Dogecoin’s overnight success has been replicated by several projects in 2023 including Bonk and Pepe. Now, a new memecoin could offer similar returns. Experts speculate 100x returns from the project in 2024, which has allowed it to quickly gain momentum during its presale.
The project? Meme Moguls. This innovative new memecoin introduces a lucrative meme stock market where investors can trade memes and build a meme portfolio. This idea is the first of its kind and has already attracted the attention of investors, raising over $715,000 in just a few weeks.
As a Meme Moguls player, individuals will have the opportunity to take part in simulated investing, develop their investment skills, and interact with other players in what’s expected to become one of the largest memecoin communities.
A number of lucrative income-earning opportunities will be available throughout the Meme Moguls ecosystem. These will include paid tournaments, winner-takes-all events, and leaderboard rankings, with the top 20 highest-performing investors on the Meme Moguls platform earning an income from a prize pool.
But players don’t need to wait for Meme Moguls to launch to start earning. During its presale Meme Moguls will reward one lucky investor with a $10,000 prize after each presale round sells out. Furthermore, investors can win gadgets, holidays and more. Given its potential, experts believe that Meme Moguls could rise to $0.19 in 2024. This would replicate Dogecoin’s rise to fame in 2021, and could create a new generation of memecoin millionaires!
