October 31, 2023
A long-dormant Dogecoin (DOGE) wallet has suddenly awakened from its slumber, moving hundreds of thousands of dollars worth of the memecoin after nearly a decade of inactivity.
The whale-surveilling platform Whale Alert initially spotted the transfer. According to Whale Alert, the ancient entity shifted 5,392,984 DOGE worth $372,461 at the time of transfer after being idle for 9.8 years.
Blockchain tracker BitInfoCharts shows that the holder made three separate transactions on October 28th, which drained the address. The wallet in question received its first Dogecoin stack in December 2013 when DOGE was trading at $0.00054. BitInfoCharts also reveals that the long-term DOGE holder printed $366,493 in profits after owning the top meme token for almost a decade.
Following the transaction trail, the wallet that received the Dogecoin stack still holds the tokens in their entirety. Dogecoin is currently trading for $0.0696, experiencing a 1.55% increase in the last 24 hours.
The awakening of the long-dormant Dogecoin wallet has caught the attention of the crypto community. This event highlights the potential for significant movements in the cryptocurrency market, even after years of inactivity. Investors and enthusiasts should stay informed and be prepared for unexpected developments in the ever-evolving world of digital assets.