The Incredible Story of SlumDOGE MILLIONNAIRE

Discover how Glauber Contessoto’s Dogecoin wallet soared to $3 million, only to plummet back down to about $50,000. Today, we will uncover an extraordinary tale, that of Glauber Contessoto, an ordinary American who decided to bet everything on a joke!

The childhood of Glauber Contessoto

Born into a very modest family where his parents worked hard to meet their family’s needs, Glauber, marked by his childhood, always promised himself that he would earn a lot of money to make his mother proud.

After his studies, Glauber secured a stable job, earning $36,000 a year. Despite limited income, he managed to save enough to start investing, beginning with the purchase of stocks like Tesla.

Naturally curious, Glauber delved deeper and deeper, eventually stumbling upon numerous threads on Reddit. He became one of the many who invested in Gamestop before its rapid rise. He considers himself an investor of the new generation, drawn more to the phenomena of memes than to traditional analyses.

The discovery of Dogecoin

It was on Reddit that he discovered cryptocurrencies, and particularly Dogecoin. This memecoin actually encapsulated everything he loved:

• The fact that no research was needed because the memecoin promised nothing.
• The fun.
• The potential for a significant multiplier.

Glauber was very hesitant, but a tweet from Elon Musk about Dogecoin in 2020 changed everything. After that, Glauber decided to go all-in on the Doge. In February 2021, he decided to use all his savings and even borrowed money from friends and family to buy this memecoin. He eventually managed to gather about $250,000. At that time, the token’s price was about $0.045, and Contessoto was convinced of its potential to increase.

DOGE, the very first Memecoin

Dogecoin $DOGE is a memecoin created in 2013 by engineers Billy Markus and Jackson Palmer. It is based on the famous “Doge” meme, which features a Shiba Inu dog. Billy Markus himself said, “We threw it together without any expectation or plan. It took about three hours to make it”.

Initially created as a joke, the token quickly gained popularity, especially on the internet where it became a symbol. “Dogecoin currently exists as a kind of inside joke”.

Billy Markus was surprised to see how quickly the Dogecoin community grew. From January to May 2021, the value of Dogecoin surged by 7,500%, sparking the interest of speculators hoping for significant returns.

Dogecoin to the moon

Within just two months, Contessoto’s investment skyrocketed, boosting his wallet to nearly $3 million at Doge’s all-time high. Glauber couldn’t believe his eyes; he was looking at a return on investment of 12x. “I put in my life savings because I knew I would eventually become a millionaire,” he said.

However, Glauber refused to sell because he was convinced that the price could climb even higher. “I believe I’m the first Dogecoin millionaire of 2021” he declared on Twitter. At the time, many people expected $DOGE to reach $1. Glauber and his “diamond hands” therefore held firmly onto his investment.

His story made a lot of noise, and he was considered a genius by the DogeArmy community. Glauber was quickly nicknamed the Slumdoge Millionaire and The Dogefather.

Glauber’s motto became: “Scared money don’t make money”.

The end of a dream

Newly minted as a millionaire, Glauber decided to quit his job, just three months after investing all his savings. Everything happened quickly, and Glauber felt untouchable. His Twitter account exploded, and he became the ingenious investor who turned $250,000 into $3 million in a few months.

The New York Times even interviewed him as a cryptocurrency expert. The journalist posed THE fateful question: “Are you going to sell?” But Glauber remained unflappable and did not sell!

Contessoto wanted to wait! He was aiming for the fateful price of $1 to start offloading his precious Doge. From a psychological standpoint, it’s understandable—why would Glauber dispose of something that made him rich, famous, and respected by all?!

You know the rest, DOGECOIN WILL NEVER reach $1…

The bullish cycle came to an end, and Bitcoin plummeted dramatically. Dogecoin followed suit and crashed even harder. Glauber kept hope, but to no avail; the Doge lost nearly 90% of its value.

In a YouTube interview, Glauber expressed some regrets… “I should have sold some”.

Unstoppable Hope

Since then, Glauber Contessoto has accepted his loss and is refining his strategy: buy more tokens and HODL for the long term. “People are caught up in the short term and don’t have the patience to see an investment through,” he says.

As you can understand, Glauber believes so strongly in Dogecoin that he now requests to be paid in the cryptocurrency whenever he works on promotional projects on X (formerly known as Twitter). He earns about $25,000 per partnership between his YouTube channel and his X account, which he only accepts in $DOGE.

Glauber literally lives off the fame gained through his investment in Dogecoin. “I had no idea how I was going to make money in the future”.

But Glauber says he will stick to his original plan: he will sell 10% of his investment once his portfolio reaches a value of $10 million, but will leave the rest invested. “People always ask me, ‘Why are you so bullish?'”.

Glauber responds: “I believe memes are the language of the millennia. Memes are the language of our generation, of Generation Z. I truly believe that”.

The special relationship between MUSK and Dogecoin

Elon Musk has always cultivated ambiguity regarding $DOGE. He likes to promote the cryptocurrency on X (formerly known as Twitter). Elon Musk was even dubbed the “CEO of Dogecoin” on Twitter in 2019 and has declared it his favorite cryptocurrency.

In recent months, X, Musk’s social network, has decided to compensate content creators on the platform. Currently, this is done in dollars, but it’s not entirely out of the question that one day Elon might decide to include a cryptocurrency, possibly even Dogecoin…

Contessoto is still inspired by Elon Musk and his influence. In fact, it was a tweet from the Tesla CEO that prompted Glauber to go all in on Doge. According to Glauber, “DOGE will undoubtedly become the currency on X. I truly believe this”.

He also thinks that Tesla might accept Dogecoin in the future, and according to him, when that happens, “it will be the biggest catalyst of all time”.

Conclusion

Glauber was a millionaire on paper… until, driven by the desire for more, his fortune collapsed with the price of Dogecoin. As he puts it himself, “Cryptocurrency markets are cyclical. I entered understanding this concept, I just miscalculated how far we would actually fall”.

Glauber Contessoto has evidently learned lessons from his story. “I want to introduce healthier habits in cryptography, and taking profits is one of them, without shame”.

But Glauber remains optimistic about the future. “In the next bullish market cycle, Doge will inevitably reach $1”.

Dogecoin lacks foundation or utility. It remains speculative, and those who buy it do so primarily in hopes of getting rich.

If there’s one big lesson to take away, it’s to DYOR (Do Your Own Research). Don’t invest in a token just because Elon Musk or some other influencer talks about it. You won’t get rich in 3 months; stories like that are rare and often end badly.