A long-dormant Dogecoin (DOGE) wallet has suddenly woken from its slumber and moved hundreds of thousands of dollars worth of memecoin after nearly a decade of inactivity.
The whale surveillance platform Whale Alert initially noticed the transmission.
Whale Alert reveals that at the time of transfer, the old entity transferred 5,392,984 DOGE worth $372,461 after being inactive for 9.8 years.
? A dormant address with 5,392,984 #DOGE (372,461 USD) just 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 28, causing the address to become empty.
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 has printed $366,493 in profits after owning the top meme token for almost a decade.
Following the transaction trail was the wallet that still received the Dogecoin stack holds the tokens in their entirety.
Other notable trades on Whale Alert’s radar involving the dog-themed crypto asset Involving one on October 27 involving the transfer of as much as 350 million DOGE worth $23.7 million from an unknown wallet to retail-focused trading platform Robinhood. Since the DOGE treasure was sent to an exchange, it could potentially be sold on the open market.
Dogecoin is trading at $0.0696 at the time of writing, up 1.55% over the past 24 hours.
Don’t miss a beat – Subscribe to receive email alerts straight to your inbox
Check price action
follow us on Tweet, Facebook And Telegram
Surf to the Daily Hodl mix
Generated image: Midjourney
Shutterstock/MrArtHit