Glauber Contessoto, a time-time millionaire who invested early in the popular meme coin Dogecoin (DOGE), shared his PEPE comment. Cryptocurrency investor conveyed his strategy to buy PEPE. Here are the details…
Dogecoin millionaire talks about PEPE
Knowing when to buy is essential in the volatile world of cryptocurrencies. Glauber Contessoto, better known as the “Dogecoin Millionaire,” recently shared his strategy for investing in the meme-based cryptocurrency Pepe (PEPE). The internet personality advises potential investors to wait for the cryptocurrency to drop 80-90 percent from its all-time high of $0.00000431 before buying. Contessoto, who made headlines in major media outlets like CNBC for becoming a millionaire by investing his life savings in Dogecoin, is famous for his bold cryptocurrency strategies.
https://twitter.com/ProTheDoge/status/1658151574156238852
As cryptokoin.com reported, his success story, which went viral in early 2021, has made him a leading influencer in the crypto space. Dogecoin earned the nickname “Dogecoin Millionaire” after experiencing a massive rally. However, the leading meme coin has been on the decline ever since. According to CoinGecko data, DOGE is currently 90 percent lower than its record level.
PEPE 60 percent below record level
Based on the internet meme Pepe the Frog, Pepe has seen a rapid rise in popularity in recent weeks. Pepe became the fastest Ethereum token to reach a market cap of $1 billion, raising over $1.6 billion. However, it fell 61 percent from its record level, following the extreme volatility trend prevalent in meme-based cryptocurrencies. Despite the current market downturn, Contessoto’s recommendation demonstrates belief in the potential for PEPE recovery.
Contessoto’s strategy underlines a common tactic used by cryptocurrency investors: buying the dip. As always, it is important to remember that investing in cryptocurrency carries significant risks due to its highly speculative and volatile nature. Therefore, potential investors should always do extensive research and carefully evaluate their financial situation before entering the crypto market.
What are the prospects for PEPE?
A trader who has mastered the rise of meme coin Pepe (PEPE) has doubled down on his big bets, according to on-chain data. A “smart coin” Ethereum (ETH) address first spotted by blockchain tracking firm Lookonchain has recently made a profit by buying PEPE early, gaining over 4,500 percent. Lookonchain says the same trader is now taking his gains and reinvesting in PEPE as the price drops. The data shows that the wallet is selling its ETH on Uniswap (UNI) for more PEPE.
Popular crypto trader and analyst Altcoin Sherpa recently weighed in on PEPE, saying current price levels could be a good spot for bulls to enter bids. He says he expects PEPE to eventually go much lower, but a move higher is still on the table in the short term. Altcoin Sherpa specifically marked the $0.00000112 price area as an important level. Here, it pointed to some consolidation. It then waited for a potential rise to around $0.0000023 before the next drop.
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