Glauber Contessoto, known as the 'SlumDOGE Millionaire', declares: The crash is just the 'final battle', the bull market has not yet begun!
He became famous overnight for investing in Dogecoin (DOGE) and is known as the 'SlumDOGE Millionaire'. On Monday, he expressed a series of optimistic views on the cryptocurrency market, contrasting sharply with the current market crash. He stated: 'This is a critical moment, and also the final battle.'
In another post, Contessoto further stated: 'The bull market hasn't started yet, it's just crazy.' However, this optimistic sentiment stands out in the current market environment. In the past 24 hours, the total market capitalization of cryptocurrencies shrank by nearly 4%, and the total amount of liquidations surged by 53%, reaching a staggering $954 million.
Dogecoin plummeted by 38%, but there is still hope for a rebound
Dogecoin is the cryptocurrency that made Contessoto famous, but over the past month, the price of DOGE has fallen by 38%. Nevertheless, Contessoto has not further responded to his optimistic predictions.
It is worth noting that Contessoto is known for his early holdings of Dogecoin, claiming that he transformed from a struggling music producer to a millionaire in just 69 days.
Analyst: Extreme fear could pave the way for a rebound
Famous cryptocurrency analyst Ali Martinez believes that the current negative sentiment may lay the groundwork for a Dogecoin rebound. He stated: 'Historically, extreme fear often signals a major reversal. This could be an excellent opportunity to go against the trend.'
Another chart analyst, Tardigrade, has marked $0.143 and $0.128 as potential reversal levels for Dogecoin.
Market sentiment: 78% long positions
According to Binance data, as of the time of writing, approximately 78% of traders hold long positions in Dogecoin, which may indicate a bullish shift in market sentiment.
As of the time of publication, the trading price of Dogecoin is $0.1584, having plummeted by 8.64% in the past 24 hours. Despite the weak market performance, the optimistic attitude of Contessoto and analysts brings a glimmer of hope to investors.
