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Dogecoin Wallet Dormant For 9.3 Years Suddenly Wakes Up

Hououin Kyouma 2023-04-05 21:45

Data shows a Dogecoin wallet that had previously been dormant for 9.3 years has suddenly shown signs of activity today.

Dogecoin Wallet Containing 1,215,614 DOGE Comes Alive After 9.3 Years

As per data from the cryptocurrency transaction tracker service Whale Alert, a very old DOGE wallet has made movement on the blockchain during the past 24 hours.

The address in question hadn’t been activated for 9.3 years straight and had been carrying a total of 1,215,614 DOGE in its balance, which is worth around $116,000 at the current exchange rate.

Below are the details of the transfer that lead to the activation of this wallet after such a long period of dormancy.

Dogecoin Dormant Wallet

As you can see, the holder sent out about 823 DOGE ($79) in this transaction. This relatively small transfer may have only been a test transaction, as not too long after this movement, the investor made another transaction of 116,000 DOGE ($11,100).

Before these latest transfers that saw the wallet break its period of inactivity, the address’ last transaction occurred way back on 16 January 2014. This transfer saw the address receive about 2,393 DOGE. Before this final transaction, the address had observed a constant stream of a large number of such small deposits.

The very first transaction that this Dogecoin wallet was involved in took place on December 21, 2013. This transfer saw an incoming of just 0.1 DOGE into the address.

Interestingly, Dogecoin launched on December 6, 2013, only a couple of weeks before this address first became active. This means that the holder of this wallet must have been one of the earliest adopters of the meme coin.

During the time that the address was active back in the day, it received DOGE worth a total of about $412 (this value is calculated by summing the USD amounts involved in each transaction at the time of the transfer itself).

This implies that in the time that it was inactive, the wallet managed to amass a profit of a whopping 28,055%. Had the address come alive when Dogecoin was at its all-time high of $0.74 in May 2021, however, the same stack of coins would have been worth about $900,000, meaning that it would have made a gain of 218,346.6%.

It’s hard to say why the address was activated now of all times, and not when the prices were much higher. Addresses that stay dormant for so long are generally those whose keys have been lost, so perhaps the holder only recently found them.

Dogecoin has seen some sharp bullish momentum over the last couple of days, thanks to Twitter changing its icon to that of the Doge meme, so if the holder had found the keys a while back (like during the bear lows), the high prices right now may have seemed like the most opportune moment to make some transactions.

So far, though, the investor hasn’t emptied the wallet yet, as it continues to hold a balance of about $106,500.

DOGE Price

At the time of writing, Dogecoin is trading around $0.0978, up 29% in the last week.

Dogecoin Price Chart