YouTuber Glauber Contessoto, a Dogeceoin millionaire, shared his predictions about the best cryptocurrency to buy when prices are bottoming out. He even gave the price level at which he would start buying…
Dogegeoin millionaire remains true to its strategy
Popular on Twitter and Youtube, Glauber Contessoto became famous for his earnings with Dogecoin in 2021. The former millionaire invested $250,000 in DOGE at the time and even appeared on CNBC screens. He became a millionaire himself after the DOGE price rose to $0.7376. However, it has faced serious losses since then. Dogecoin price failed to reach its former highs again after the 2021 bull.
Contessoto is now talking about cryptocurrencies to buy when prices are bottoming out. The DOGE tycoon says he will stick with Dogecoin despite its severe depreciation. He wrote on Twitter yesterday as the ideal entry level: “If DOGE drops below $0.6, I will buy more.” DOGE is currently trading at $0.06164…
If $DOGE drops under 6 cents I’m buying more 🤔🐕🚀 pic.twitter.com/yVGmQDMoo0
— SlumDOGE Millionaire (@ProTheDoge) June 12, 2023
Meanwhile, one of the questions posed to Contessoto was whether he still holds DOGE. Contessoto answered this question with one sentence: “Yes, of course I do.”
Yes of course
— SlumDOGE Millionaire (@ProTheDoge) June 12, 2023
How about the DOGE price? Is Elon Musk losing his influence?
As you know, Dogecoin (DOGE) has somehow become a cultural phenomenon in recent years thanks to the voice support of figures like Elon Musk. The Tesla CEO has been an outspoken advocate of the meme-inspired cryptocurrency. He often tweeted about Dogecoin and even referred to it at any given opportunity.
Recently, Elon Musk is facing a class action lawsuit for insider trading and manipulating Dogecoin. In 2021, Musk activated these tweets to influence the price of DOGE. It goes without saying that Musk had a hand in DOGE’s 27.668% all-time increase.
However, as market conditions worsened in 2022, the correlation between Dogecoin and Musk dropped. In fact, Musk has tweeted about DOGE several times. But it had little or no impact on price action. The closest rally came around the time Twitter changed its logo to Dogecoin.
The Twitter move resulted in a 30% increase in DOGE price in less than 24 hours. However, the increase in value only lasted for a while, even though the dog logo remained on the social media platform for more than three days. However, Musk’s recent tweets about Dogecoin fail to affect the price. Musk tweeted about DOGE twice in the last week and it wasn’t even on the agenda…
Elon Musk loses influence on Dogecoin
As we quoted as Kriptokoin.com, the first tweet came with the message “Dogecoin to Win (DOGE)” amid SEC lawsuits. The second tweet included a meme quoting Shakespeare’s play “Julius Caesar,” in which he invites the DOGE battles onto the stage. Both developments did not have an effect on the price.
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