Dormant Dogecoin Wallet Resurfaced After Nearly 10 Years of Inactivity

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 the well-reputed crypto tracker 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, which had been around since 2009.

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.

DOGE Current Price/Source: Trading View

Earlier today, it was reported that 350 million DOGE, worth over $23 million, was transferred to popular trading platform Robinhood by an anonymous whale-sized wallet, likely with intentions to sell off the holdings.

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