Glauber Contessoto spent his life financial savings and loaded up credit playing cards to accumulate $180,000 worth of Dogecoin in leisurely 2020 and early 2021. The following year, his stash shot up in worth to $3 million—however he didn’t promote.
Within the months following, his fortunes fell to $200,000 and Dogecoin misplaced momentum. For years, he talked about he has been tormented for this fumble, sticking to his convictions amid the downward market moves. However now the title is legit again, and Contessoto is weighing a assorted circulate this time around.
Contessoto, higher known as ProTheDoge, reclaimed his region as the ”Dogecoin Millionaire” final week as the coin surpassed a designate of $0.20. Over the next few days, as the meme coin continued to soar above $0.40, his holdings peaked at a designate of beautiful over $2.1 million.
“Every thing I talked about would occur is going on. It positively feels lovely,” Contessoto told Decrypt. “I will never reproduction the feeling of the first time turning into a millionaire from having nothing, however right here’s indulge in a terribly lovely sequel.”
Of us laughed when I talked about $DOGE was coming assist…
However I never sold, I lovely sold more
I truly hold $1.2 Million in #DOGE at the second
…and the bull hotfoot has lovely begun.
2021: $180K 👉🏼 $3 Million
2025: $1.2 Million 👉🏼 ??? pic.twitter.com/1E8QWCGkeq
— SlumDOGE Millionaire (@ProTheDoge) November 10, 2024
When he first grew to alter into a Dogecoin millionaire, Contessoto was working a full-time job, residing in a humble flat and riding a notoriously beat-up Toyota. Correct via this length, he documented his walk on YouTube, showing his holdings at the live of every video.
“I had a host of of us who sold in ensuing from me. And I felt a accountability to them now no longer to promote,” Contessoto told Decrypt. “When things took a downturn, Dogecoin went lovely assist down—and I had misplaced so worthy cash, I had a host of of us flip on me.”
He talked about that on every single day basis he logged onto social media, following the tumble of DOGE, he would leer streams of detest from these that claimed to hold misplaced cash ensuing from him.
Correct via the lowest length, as DOGE sold for lovely $0.055, he claims that his holdings sat at around $200,000. At this second, he puzzled what he was doing this inquisitive about alongside with his finger hovering over the promote button. He clicked a button—however it surely was to accumulate one other 1.3 million DOGE, which he claims designate him approximately $71,500 at the time.
Now that these darkish days are at the assist of him, he says that he’ll be selling—however now no longer the total stash.
“I am positively going to promote this time around. One lesson I obviously realized was to rob earnings,” he told Decrypt. “Am I going to promote my total secure of Dogecoin? Likely now no longer.”
Contessoto talked about that he is devising an exit technique by consulting more experienced merchants than himself. Broadly talking, he talked about that he’ll initiate slowly taking cash out of the meme coin when he believes that Bitcoin is initiating to reach its peak.
Whereas the final three years were stuffed with of us taking “stabs” at him for the $3 million fumble, he believes within the long hotfoot that it was indirectly the “clean” thing to form. It is miles ensuing from the “Dogecoin Millionaire” nickname served as a platform to alter into a crypto influencer.
He now has 115,000 YouTube subscribers and over 350,000 Twitter followers, an audience that he didn’t hold sooner than this saga. In a documentary that followed his walk called “This is No longer Monetary Recommendation,” he claimed to hold made $690,000 in sponsorship deals by its June 2023 unlock date. He had also moved into the next home in Las Vegas.
“That was my goal initially anyway, ensuing from I felt indulge in I could well also originate a title label from the total thing,” Contessoto defined. “I was doing YouTube movies every single day. I was doing ads for products, I was doing commercials, I was selling merchandise […] I was lovely generally monetizing the total walk.”
However this too hasn’t near without its downsides. Many Crypto Twitter influencers rob payments from projects in alternate for social media promotion—a circulate that has landed Contessoto within the crosshairs of crypto detectives.
Effectively-known on-chain sleuth ZachXBT has highlighted some of the Dogecoin Millionaire’s outdated promotions of alleged “rug pulls.” This involves Safereum, a token that plummeted virtually 95% as the personnel at the assist of the challenge dumped 600 ETH on the holders. Safety agency CertiK defined this as an “exit rip-off.” Contessoto deflected blame for his position in promoting projects that spin awry.
“ZachXBT continuously talks about, ‘It be principal to form your due diligence sooner than you’re employed with these projects,’” Contessoto defined. “I will form as worthy compare as I will presumably form. However I am now no longer some detective, sleuth, tech guy. What am I going to form? Sit there for hours and hours, try to be definite or now no longer it is legit, after which one thing finally ends up going on anyway?”
Such influencer-driven token scams remain primary. In October, a Solana meme coin called Sharpei soared to a market cap of $54 million in beneath an hour ensuing from promotion from prominent crypto influencers; Contessoto was now no longer amongst them.
Soon after, the token dramatically collapsed in designate in a matter of seconds as insiders collectively cashed out amid controversy. A part of this design incorporated a pitch deck that named gargantuan projects and influencers as legit companions, which helped onboard others who promoted the “rug pull.”
When excited about projects to promote, Contessoto claims to verify if a token’s liquidity is locked, come at some stage within the tokenomics of a challenge and the token offer, compare the of us at the assist of the coin, and ask other of us within the placement to vouch for them. However indirectly, he talked about, influencers could even be fooled lovely indulge in odd merchants.
“As long as you’re now no longer pumping and dumping, I’ve never as soon as called a challenge after which two seconds later dumped my total secure,” he talked about. “I truly hold a super judgment of correct and unsuitable on me. I work with projects I narrate are decent, and I try to maneuver via this location as simplest as I will.”
Edited by Andrew Hayward
