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Dogecoin Whale Loses $500K Worth Of Its Holdings, Still Not Selling

Famous self-labeled DOGE millionaire, Glauber Contessoto, has disclosed via Twitter that his DOGE holdings have lost $500K in value over the last 30 days.

Glauber DOGE Loss Stats

Glauber revealed that he wants to prove to all doubters that he doesn’t just reveal his million-dollar worth of DOGE holdings. He would also show his DOGE portfolio when they aren’t worth as much too. Based on the picture shared with his tweet, Glauber’s DOGE holdings have declined by almost $462K in value. However, Glauber insisted that he still maintained his holdings and was not obligated to sell.

Glauber Contessoto Tweet. Source: Twitter

Losing A 6-Figure Sum In Dogecoin Worth Within 24 Hours

CNBC had featured the DOGE millionaire a couple of times after the meme-themed digital asset set a new peak price of $0.74 in early May this year, and his Dogecoin became valued at more than $2m. He had made that amount because he invested $250K in the cryptocurrency earlier in the year. However, he is also known to have lost $168K in one day.

After achieving the millionaire Dogecoin status in April, he quit his 9-5 job. Then, he dedicated his active social accounts to promote himself. Contessoto’s plan is to wait for his DOGE portfolio to be valued at $10m and convert 10% of it into cash.

He also revealed via one of his social handles that he is analyzing the ADA token to invest in it. DOGE price has been on a downward spiral in the last five days. It has lost 14% of its value and now trades at $0.23 as of this writing. But the DOGE whale insisted that DOGE’s decline is in response to the overall bearishness affecting the entire digital asset market, including bitcoin.

AMC Entertainment Could Start Accepting Dogecoin

The entertainment giants confirmed that they would start accepting top digital assets for those paying for their movie services before the year ends. The AMC CEO, Adam Aron, is now asking the Dogecoin ecosystem via a Twitter poll whether the company should also start accepting DOGE.

The poll results, which have garnered over 100,000 votes so far, show that 78% of the respondents won’t mind the entertainment giants, including DOGE, as part of its payment options. The remaining respondents disagree with the idea.

If the movie theater giant starts supporting Dogecoin payments, it will toe the path of Newegg and the Dallas Mavericks basketball team, who are already supporting Dogecoin payments. Also, DOGE holders paid for SpaceX’s DOGE-1 lunar mission with the meme cryptocurrency earlier in the year.

Billy Markus (one of Dogecoin’s founders) is also supporting Aaron’s Twitter poll. He even urged his followers like the AMC CEO’s tweet. Electric car manufacturer billionaire, Elon Musk, also liked Adam Aron’s Twitter post, indicating that he supports the move.

Before the AMC CEO’s poll, Elon musk conducted a similar survey to ask his followers whether tesla should support Dogecoin payments. Even though most of the respondents responded in the affirmative, the company is yet to start supporting the meme coin payments.

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