Remember the dogecoin millionaire? The man who maxed out all his credit cards and everything he had to buy dogecoin. At one point his bet was worth up to $3m, now it’s worth $50,000.

His tweet:

Glauber Contessoto, aka Prothedoge or the dogecoin millionaire is a prime example of why taking profits is important. He went all in on February 2021, and it only took him 69 days to become a millionaire. His early purchase of $40 of Doge at a price of $0.01 grew to $300 pretty quick, and he got hooked.

“I'm like I don't know what the hell this is, but the next time this jump happens, I'll be all the way in.”

From there he spent 24/7 on doge trying to find bottoms.

On February 5th, doge dropped back to 4 cents and he sold everything he had to get in. $250,000.

At the peak of the bull run it was worth $3 million, he recently tweeted now it's worth $50,000. Moral of the story, never marry a coin. No one went broke taking profits.

50 thoughts on “Remember the dogecoin millionaire? The man who maxed out all his credit cards and everything he had to buy dogecoin. At one point his bet was worth up to $3m, now it’s worth $50,000.”

  1. Man, not even selling enough to pay off the credit cards etc (plus taxes)? Full degen.

  2. Jesus, things like this make me want to throw up. How did he not sell when it went back down to 1.5 million

  3. I feel pain just looking at this, why not cash out 1 million at ath and ride the rest

  4. I wanted to say that he is “one of us”, but I doubt that people on this sub would Max out their creditcards and degen it into Dogecoin.

    Almost everybody could guess that the SNL appearance of Elon Musk would have been the obvious top for Doge back in 2021.

  5. He shouldve just cashed out….but what to expect from people putting everything in doge…..

  6. I can’t believe that guy is 34yrs old. If you watched his videos, you’ll see how he still thinks like a teenager.

  7. Taking profit is the hardest thing when it comes to Crypto. You will keep on hoping it will rise more but end up getting disappointed. I have already set a price I will dca out next bull season. Not even greed will make me change my mind. I learned my lesson last bull market

  8. This guy came in a video of Andrie Jikh and in that, he showed his worth to Graham Stephen and Graham told him to sell it off immediately and take profits because he has already reached that epitome of getting rich, more money than that won’t have a significant impact to life hence the risk even further outweighs the luck.

    And he ignored.

    I hope he learned his lesson. It was a very expensive lesson.

    Graham Stephen released an updated video on him a year ago. It was still 300k then, not 50k.

  9. I feel like if this guy traded stocks, he’d be a WSB legend. Instead, he gets laughed at regularly

  10. > Moral of the story, never marry a coin

    I would even extrapolate it to a shitload of other things in life, try to be rational above all else. Or one day reality will slap you in the face hard.

    Unrealised profits are not profits yet, merely fancy numbers on your trading app heh

  11. I remember seeing some videos back them of people trying to convince him to sell. He said no, holding it to $1.

    We can learn from the mistakes of others

  12. “Never marry a coin” is probably in the top three best investment advice you will see on here.

  13. DCA out is pretty important, at least at that insane price point, he could have sold $1 mil and could have kept everything else and just forget about it

  14. Yeah,so hodling indefinitely isn’t the best strategy as some people in the sub says, the more wise move is to keep taking small profit whenever you’re green so in case the whole market dumps, you’ll still have some gains made.

  15. Your point about him bag holding Doge still stands but the premise of this is wrong.

    If we compare top price to current price there is about 4M Doge in the left pic to less than 1M Doge in the right.

    If he is still holding everything it’s currently worth about 250k not 50k

  16. How the fuck is his cost average 4c and he bought $250k worth with the current price of Doge sitting at 6.3c his holdings should be $393k with a return over 50%.

    Dogecoin has never fallen below 4c since the time he bought so it’s impossible he didn’t sell in the green. Agree hindsight is 20/20 and in retrospect he absolutely should have taken profit but something about this post is patently false.

  17. Yep Profit taking is important. Had GME calls in december 2020 for 1k. Sat in front of my Laptop when they were worth 120k. Sold them after the Market maker fuckery for 7k… Fuck me haha

  18. The “only 69 days” part, if it were me, that would probably feel like an eternity… Selling all your stuff and all in on doge and wait 69 days…such bravery

  19. How is this possible? Let’s say he had $3M at the top, Doge is down 90% from Ath which makes his bag worth at least $300k

  20. I made a good £10k on the Dogecoin Madness. It was hell of a ride.

    I do kick myself though as I was thinking ‘I must buy more’ about 3 weeks before it went mad. Coulda -Woulda- Shoulda!

    It fun to fantasise about though!

  21. Also hidden in there is a greater lesson: you need 250k to make 3 million even with a shitcoin! So temper your expectations

  22. One minute hodl, the next minute dont hodl. Y’all more confused than people that use pronouns 😅

  23. I bought my DOGE way back in 2014 and I’m still holding onto it. However, I will sell my holdings when it is enough to pay off my mortgage. It only needs to reach 25 cents for that.

  24. If he bought $250k at 4 cents, and Doge is still above 4 cents, where did the rest of the money go? How is only $50k left?

  25. You can tell he is a greedy degenerate because he’s using Robinhood

    That amount is enough to retire me 4 times

  26. He constantly shills garbage coins to his followers under the guise of them being memes. He’s a scammer and scumbag who has made plenty of money dumping on his desperate followers. He should be in jail.

  27. People like to call him an idiot but the only reason why he was able to hold to $3M is the same reason he held to $50k. Definitely should have had some sort of structure where he could have secured some profits though.

  28. A profit is never a profit until you sell.. even half a million dollar is life changing and this guy literally threw away 3 million? the greed for more seems unreal.

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