Dogecoin 'Millionaire' Wants This Reddit-Themed Meme Coin To Flip The Actual Reddit IPO
Portfolio Pulse from Benzinga Neuro
Glauber Contessoto, known for his Dogecoin fortune, predicts the meme coin $RDDT could outperform Reddit's upcoming IPO. Reddit aims to raise $748 million, valuing the company at $6.5 billion. RDDT, with a market cap of $7.82 million, would need a 9465.22% increase to match Reddit's IPO valuation. The Reddit IPO is highly anticipated, being five times oversubscribed, and will trade under the ticker 'RDDT' on the NYSE.
March 21, 2024 | 7:44 am
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POSITIVE IMPACT
The meme coin $RDDT, supported by Dogecoin millionaire Glauber Contessoto, aims to outperform Reddit's IPO, requiring a 9465.22% market cap increase to match the anticipated $748 million IPO valuation.
Contessoto's endorsement and the comparison to Reddit's IPO put $RDDT in the spotlight, potentially driving investor interest and speculative trading. The significant market cap increase required for $RDDT to match Reddit's IPO valuation highlights the ambitious goal set by its supporters.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Glauber Contessoto, a notable Dogecoin investor, supports $RDDT against Reddit's IPO, potentially influencing Dogecoin's visibility and investor sentiment.
While the news highlights Contessoto's support for $RDDT, his association with Dogecoin could indirectly affect DOGE's market sentiment by increasing visibility and potentially attracting more investors to the meme coin space.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50