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.
Whale Alert reveals that the ancient entity shifted 5,392,984 DOGE worth $372,461 at the time of transfer after being idle for 9.8 years.
? A dormant address containing 5,392,984 #DOGE (372,461 USD) has just been activated after 9.8 years!https://t.co/XKqB6FhC3K
— Whale Alert (@whale_alert) October 28, 2023
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.
Other notable transactions on Whale Alert’s radar that involve the dog-themed crypto asset include one on October 27th that saw a staggering 350 million DOGE worth $23.7 million transferred from an unknown wallet to the retail-focused trading platform Robinhood. Since the DOGE trove was sent to an exchange, it could potentially be sold on the open market.
Dogecoin is trading for $0.0696 at time of writing, a 1.55% increase during the last 24 hours.
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