Dogecoin Price Rises, SlumDOGE Millionaire Becomes Rich Again

SlumDOGE Millionaire. (Photo; Doc. X @ProTheDoge)

JAKARTA - The name Glauber Contessoto alias SlumDOGE Millionaire is back in the spotlight after his fortune jumped to more than US$2.1 million (around Rp.33.6 billion) in November 2024. The increase in Contessoto's wealth cannot be separated from his crypto asset, Dogecoin (DOGE). This recovery occurred after the price of Dogecoin rose again amid the development of the crypto market.

Contessoto's journey began at the end of 2020, when he was desperate to invest all of his savings amounting to USD 180,000 (IDR 2.88 billion) to buy Dogecoin. His bold decision proved right in 2021, when his investment value shot up to USD 3 million (IDR 48 billion).

However, the volatile market caused the price of Dogecoin to fall to USD 0.055, making its portfolio value drop drastically by only USD 200.000 (IDR 3.2 billion). Instead of giving up, Contessoto chose to increase investment by buying another 1.3 million DOGE worth USD 71,500 (IDR 1.14 billion).

"People laughed at me when I said that Dogecoin was back...Namu I never sold it (DOGE), I even bought more," said Slumdoge Millionaire in X post, @ProTheDoge.

His strategy finally paid off when the price of Dogecoin rose above $ 0.40, returning his investment wealth to $ 2.1 million. This time, he admitted that he would be wiser by selling in stages and consulting experts to determine the best steps.

Not only in the investment world, but Contessoto is also quite successful as a crypto influencer. He took advantage of his popularity to build a YouTube channel with 115,000 followers and Twitter with more than 350.000 followers. From sponsorship and merchandise sales, he pocketed 690,000 US dollars (IDR 11 billion) until mid-2023.

However, his journey was not always smooth. He was criticized for promoting failed crypto projects, such as Safereum. Nevertheless, he defended himself by ensuring that every promotion was carried out based on an in-depth analysis.