'Conviction, Conviction, Conviction' — Dogecoin 'Millionaire' Says He Held Strong Despite Mockery, Emerging As A Genius In The End

Glauber Contessoto, recently emphasized the significance of conviction in crypto investments, particularly referencing his early belief in Dogecoin DOGE/USD.

What Happened: In a tweet on Thursday, Contessoto shared his experience of being ridiculed for his early conviction in Dogecoin in 2021. He highlighted how his steadfast belief eventually paid off, turning the tables on his critics. He also stressed the importance of trusting one’s gut feeling when it comes to investing in a particular cryptocurrency.

Conviction, Conviction, Conviction.

Some things you can't teach people.

My conviction in $DOGE in early 2021 was ridiculed and laughed at by many in the Wall Street Bet Reddit forum for weeks. I stopped trying to convince people after a while and just sat and held my bags… https://t.co/RecbOVYv6e

— SlumDOGE Millionaire (@ProTheDoge) April 11, 2024

See Also: Crypto Analyst Says Shiba Inu Expected To Surge 155% As Meme Coin Establishes Strong Support Levels

Contessoto, who was once known as the “Dogecoin Millionaire”, saw his fortune drastically drop from $3 million to $50,000 at one point. Despite this, he remained optimistic about the potential of Dogecoin, asserting that it would rise again.

So far this year, Dogecoin has been on a tear, rising 121.4% since January 1. The meme coin has eclipsed gains of larger cryptocurrencies such as Bitcoin BTC/USD and Ethereum ETH/USD, which have risen 68% and 55% respectively in a similar period.

Why It Matters: Contessoto’s conviction in Dogecoin has been a significant part of his investment journey. He had previously predicted that he would regain his “millionaire” status if Dogecoin hit 20 cents. His recent tweet underscores the importance of conviction in making investment decisions, especially in the volatile world of cryptocurrencies.

Contessoto, known on X as the SlumDOGE Millionaire, recently announced a $300,000 investment in three meme coins, stating that market dips are the best times to double down on one’s convictions.

Price Action: At the time of writing, Dogecoin traded nearly 1% higher at $0.20, according to data from Benzinga Pro.

Photo Courtesy: Shutterstock.com

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