A long-dormant Dogecoin wallet containing millions of the popular meme cryptocurrency has suddenly sprung back to life after nearly a decade of inactivity.
According to Whale Alert, a wallet containing 5,392,984 DOGE recently became active again after laying low for 9.8 years. Based on today’s DOGE price, the stash is worth approximately $372,461.
The last time there was activity from this wallet was back in 2013, the very year that Dogecoin was launched by co-founders Billy Markus and Jackson Palmer. The two created DOGE as a parody of Bitcoin.
Markus even humorously adopted the name “Shibetoshi Nakamoto” on Twitter, playfully referencing Bitcoin’s mysterious creator, Satoshi Nakamoto.
Just over three hours ago, Whale Alert tracked a transaction from this awakened wallet, sending 392,000 DOGE to a brand new blockchain address. This suggests the whale is starting to distribute the long-dormant DOGE holdings across multiple wallets.
The reactivation of this wallet comes on the heels of a notable DOGE price surge between October 25-26, when the original meme coin spiked 16.11% from $0.0649 up to $0.0753. DOGE followed Bitcoin’s lead during this time, which jumped 13% to reclaim the $34,100 level.
However, DOGE’s momentum was short-lived, with the meme coin now trading around $0.0682 after shedding 9.35% since reaching that peak last Thursday.
