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I love how Katy Perry invented Wig /l2t8o7Ebuw Incredible McDonald’s has turned their signage to a W today in recognition of “wig” /vWq5pyH0cNĪll the gays after Katy Perry says “wig” /s1hH0n1Rnh Me: *closes eyes in front of mirror* Wig, wig, wig. When you find someone who can relate to you saying “Wig!” because you’re very into voguing right now and it gave you life /Dp25Loil2q I accidentally said “wig” out loud and now Katy Perry won’t leave my apartment until I tell her it’s “just for us.” /YM8Pbhqt84 Regardless, the interaction went viral, and Billboard Pride has collected some of the funniest memes from Katy Perry’s “wig” moment. Others were simply unimpressed by what they perceived as a ham-fisted attempt by Perry to pander to her queer fanbase. Some fans were excited to see Katy understanding online queer lingo. "And it's almost impossible to say when that's going to happen.Twitter erupted with tweets about Perry’s recognition of the popular phrase ( Urban Dictionary defines “wig” as “When something happens so unexpectedly, your wig flies off your head”). investing app Freetrade, recently told CNBC. "he bubble eventually has to burst and you're going to be left shortchanged if you don't get out in time," David Kimberley, an analyst at U.K. Though some retail investors have profited from its recent surge, experts warn that people should only invest what they can afford to lose.
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In his opinion, "this stuff is going to continue to grow."ĭogecoin began to lose steam on Tuesday, and now, the cryptocurrency is trading at about 28 cents, according to CoinGecko, with a market value of about $36 billion.ĭespite the decline, Contessoto is still "hovering over $1 million," he says.Įight years ago, dogecoin was created as a parody faster and "fun" alternative to bitcoin by software engineers Billy Markus and Jackson Palmer. "My plan is, once I hit $10 million, then I'll take out 10%," he says. Though this was an unusual surge for the cryptocurrency, Contessoto doesn't intend to sell anytime soon.
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He wrote, "Hey guys I just became a dogecoin millionaire," and attached a screenshot of his dogecoin holdings on Robinhood, showing a balance of $1,081,441.29. The next day, under his username iUsedToCallDogeDodge, Contessoto posted on subreddit r/dogecoin. I was very new to Reddit, so I wanted to make a post," he says. Whatever the case, Contessoto realized that meant his dogecoin investment had grown to be worth over $1 million. Others attribute dogecoin's spike in price to tweets by Musk that nod to the popular crypto-slang phrase "to the moon." Some speculate that the rally was a result of cryptocurrency exchange Coinbase going public on April 14, which also drove an increase in the prices of bitcoin and ether. Dogecoin ultimately reached a record high of around 45 cents. That week, dogecoin spiked 400%, and on April 16, it defied odds as it hit a market capitalization of $49 billion, according to CoinGecko. Still, Contessoto stuck with his investment plans and then continued to hold the cryptocurrency.Ībout two months later, on the night of April 15, the price of dogecoin began to surge. In addition, dogecoin does not have a supply cap like bitcoin does, all of this making it a much more risky investment, according to experts. They warn that investors could get burned.įor instance, Mike Novogratz, a crypto bull and founder and CEO of Galaxy Digital, told CNBC's "Squawk Box" on Tuesday that bitcoin is "a well-thought-out, well-distributed store of value that's lasted for 12 years and is growing in adoption, where dogecoin literally has two guys that own 30% of the entire supply." Bitcoin also has an extensive and well-funded ecosystem that does not exist with dogecoin, he said. "It's going to zero, eventually."Įxperts are similarly very skeptical of dogecoin, which they say is highly speculative and a so-called meme trade based on social media buzz.
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"Dude, it's a pump-and-dump ," one of his friends said in a text message. His friends were critical of the meme cryptocurrency and warned him to be careful. If the investor experiences any losses and couldn't repay the amount loaned on margin immediately, they'd need to pay back interest as well.) (Buying on margin can be very risky, as investors are using borrowed money to trade. Contessoto not only used all his savings, but he also sold all the stock he owned, including shares of Tesla and Uber, and invested on margin by borrowing money from Robinhood via the app, he says. Contessoto (who works at a music company in Los Angeles) says he didn't have disposable income to buy dogecoin, so he took a huge risk.