A Brazilian returned to be a millionaire with Dogecoin after the rise of the cryptocurrency in the market was 42% in the last seven days. Digital currency is now trading at 27 cents, up 9.3% in the past 24 hours.
Glauber Contessoto, a Brazilian who lives in the United States, gained worldwide fame after buying everything he had in Dogecoin. According to him, upon detecting that there is a trend on the internet with this cryptocurrency, he made a bet on Dogecoin, which has experienced great appreciation in the last year.
Even with a strong increase in the market, Dogecoin (DOGE), as well as all altcoins, fell along with Bitcoin since April. However, BTC appreciation has returned and alternative currencies also benefit from the movement.
Brazilian returns to be a millionaire with Dogecoin after last week’s discharge
On Wednesday, Brazilian Glauber Contessoto, who introduces himself as ProTheDoge on social networks, stated that he earned in 1 hour more than he earned in 2018. That’s because, with all his money in Dogecoin, he benefited from the recent currency rally meme with dog symbol, going back to being a millionaire against the dollar.
“I literally made $35,000 in 1 hour with Dogecoin – that was a full year’s salary working full time in 2018 – that was just 3 years ago. Now my portfolio shows over $1,000,000”.
Earning more than his first salary was an important move for the Brazilian, who started working in 2018. In 2019, he account who received as an annual salary US$45,000.
In 2020, he received US$ 60,000 for 12 months, but ended up leaving his job now in 2021, when he became a millionaire with cryptocurrencies. After its publication, Dogecoin continued to rise sharply, with it earning US$53,000 (R$276,000) this morning alone, with DOGE’s share of US$0.28.
— SlumDOGE Millionaire (@ProTheDoge) August 11, 2021
Brazilian’s “risky movement” is conscientious
Brazilians know that they risk their assets in a cryptocurrency known as a meme in the market. Even so, that doesn’t stop him from keeping his long position and he says he won’t give up anytime soon.
In the same seven-day period, Bitcoin, the market’s most valuable cryptocurrency, saw a 21% rise against the Dollar, breaking market highs.
Even with an important rally, altcoins ended up giving returns above, with Ethereum up 29%, Cardano 36% and Ripple 45%. But relative to the all-time high, Dogecoin is the furthest away, still down 61%, while Bitcoin needs to recover less than half to get back to the all-time high.