According to Glauber Contessoto, Dogecoins ‘DOGE’ primary value is its trademark, and the cryptocurrency does exactly what it was designed for.
Glauber Contessoto who refused to sell his assets after losing his millionaire job in May of this year, says he is still holding on to all of the money he has acquired and has no plans to sell it anytime soon. But why is he in charge, and what plans does he have? Contessoto, who is known around the world as a “Doge millionaire,” believes Dogecoin’s price will double in the next two months, to “around 50 cents” for him. In April, he claimed to have become a Dogecoin millionaire in 69 days only.
Contessoto, a Los Angeles resident, told Benzinga that Dogecoin’s most valuable asset was its trademark and that the cryptocurrency was doing precisely what it was supposed to do: buying and selling items. Because of Dogecoin’s low value, it is less likely to be kept or hoarded. People readily accept it as a medium of exchange and use it to buy and sell goods and services, whereas high-end cryptocurrencies like Bitcoin and Ether are viewed as a store of value.
Contessoto, 33, claims he has no understanding of technical analysis and instead concentrates on “market perception and transforming pop culture.” He added the premise that the economy is increasingly significantly dependent on influencing communications and marketing trends prompted his investment in Dogecoin.
Contessoto had urged the Dogecoin community to stick together and not abandon their investment when the market fell in May. When Dogecoin was priced at $0.045 USD in February, he deposited his life savings – about $1,80,000 USD. His initial investment had increased to almost $2 million by the end of April.
Contessoto claimed to have purchased numerous Dogecoins valued at $5,300 USD (approx) earlier in July.
Contessoto believes Dogecoin “will be a bridge for all novices” to cryptocurrencies in the next years, according to a Benzinga report. He also claimed to have seized 4206,969 DOGE, which is worth over $ 987,000 dollars at the time the report was written.
Dogecoin, which was created as a meme based on the Shiba Inu dog, peaked on 8th May at $0.72 USD.