After making a loss of 10 crores in one day, this Dogecoin billionaire took this decision regarding the coin!

After making a loss of 10 crores in one day, this Dogecoin billionaire took this decision regarding the coin!

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The price of Dogecoin has multiplied in just a few months, which has encouraged many people to invest in the cryptocurrency. But many of them have also lost huge sums of money in two market crashes that happened within a month. Yet somehow the confidence of early investors still remains intact. Mostly because they saw phenomenal growth in their investments during the first four months of this year. A 33-year-old man recently claimed that he became a Dodgecoin millionaire within two months. But the crypto market crash on Monday, June 21, wiped out a significant portion of his investments. Glauber Contessoto had invested over $2,50,000 (about Rs 1.85 crore) in Dogecoin on 5 February, which made him a millionaire on 15 April.

Contesto survived the market crash in May but another crash occurred on June 21, which extended till Tuesday. It removed his two-month-old billionaire tag after China doubled down on its efforts to curb crypto trading and mining.

CNBC’s one report good According to reports, the cryptocurrency holdings of Contesto, which included only Dodgecoin, fell $1,67,000 (approximately Rs 1.23 crore) to a low of $8,31,538 (approximately Rs 6.16 crore) on Tuesday alone. Amid the massive selling of cryptocurrencies this month dodgecoin price in india There has been a steep decline in coindesk As per the meme-based currency, it was trading at 19.1 (approximately USD 0.26) on June 28 at 3 pm (IST).

When Contessoto bought Dogecoin, it was priced at around USD 0.04 (approximately Rs 3). On May 8, it reached an all-time high of around $ 0.73 (about Rs 54). In this way, the stake of Contesto exceeded $ 2 million (about Rs 14.83 crore). After that Dodgecoin started fluctuating but Contesto remained optimistic for a long time. He bought more dodgecoins during the downtrend and refused to sell them despite the drop in price.

If bitcoin and ethereum weren’t (hit) too, I would be worried,” Contesto told CNBC.
He is still optimistic about Dogecoin, saying that he plans to invest in it for at least a year. “Whatever happens in the short term doesn’t matter to me as I am only looking at ‘HODL’ Dodgecoin for years to come.”

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