Former ‘Dogecoin Millionaire” Still Buys Dips, Calls DOGE His Savings Account

Thirty-three-year-old DOGE investor and YouTuber Glauber Contessoto, who formerly promoted himself on the web and in the media as a "Dogecoin millionaire," has stopped being that as the worth of his DOGE holdings no longer makes him a millionaire, according to CNBC.

Contessoto continues to buy Dogecoin dips and considers DOGE to be his savings account now.

"Doge is my savings account": This 33-year-old is no longer a "dogecoin millionaire"–but he's still buying the dips (via @CNBCMakeIt) https://t.co/C0N8DDruUU

— CNBC (@CNBC) July 20, 2021

Earning millions on DOGE and losing them as market crashed

After Elon Musk's favorite coin reached a historic peak of $0.74 back in May, the crypto holdings of Glauber Contessoto in this meme currency reached over $2 million in value.

However, after that, the DOGE price began declining and is trading at $0.1869 at press time, as per CoinMarketCap data.

Earlier, CNBC reported that, in February, Contessoto brought in over $250,000 worth of Dogecoin. When the coin started heading down from its May all-time high, he lost $170,000 in a single day.

He quit his day job and began focusing on his social media presence as a "Dogecoin millionaire." He started earning by selling his merch on his website and getting paid in Doge for promoting other crypto projects, as covered by U.Today recently.

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"I can't pass up a good bargain"

The former DOGE millionaire keeps buying dips now and treats Dogecoin as his savings account.

Last week, he purchased DOGE for $5,300, when it cost $0.17. On Tuesday, his Dogecoin stash was worth slightly over $700,000, having shrunk from over $2 million just a short while ago.

He plans to wait for his DOGE holdings to become worth $10 million, and then he will cash out 10 percent of it, leaving the rest to grow in price.