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.”