Ancient DOGE Whale Awakens, Moving 5.3 Million Dogecoin

Well-reputed crypto tracker Whale Alert, which traces down large cryptocurrency transactions, has detected a dormant address reactivated – it contains 5,392,984 Dogecoin, now worth $372,461.

Last time this wallet was active, according to the crypto tracking platform, was 9.8 years ago – 2013. This is the year when DOGE was launched to the market by its creators Billy Markus and Jackson Palmer, who made this meme coin as a side project and as a parody of the flagship cryptocurrency Bitcoin. BTC had been launched four years prior to that.

Billy Markus, when he registered on Twitter, also took an alias that mocks the mysterious Bitcoin creator Satoshi Nakamoto. The DOGE co-founder started calling himself on Twitter Shibetoshi Nakamoto.

According to Whale Alert, slightly more than three hours ago, this awakened wallet transferred 392,000 DOGE to another blockchain address – that was a brand new wallet. This looks like the whale is distributing his millions of Dogecoin to different wallets.

Earlier this week, between October 25 and October 26, the original meme coin DOGE experienced a substantial rise of 16.11%, jumping from $0.0649 to the $0.0753 level. DOGE, as well as other altcoins, followed the extensive 13% rise of Bitcoin as it regained the $34,100 level on October 24.

However, this momentum did not last long for Dogecoin. At the time of this writing, the meme coin is changing hands at $0.0682, having lost 9.35% since that jump on Thursday.

Earlier today, it was reported that an anonymous whale transferred a staggering 350,000,000 DOGE to the popular trading platform Robinhood, apparently, to sell this massive chunk of meme cryptocurrency.

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Yuri Molchan