A dormant address holding more than 2M DOGE has been activated.Â
Whale Alert, a Twitter bot that tracks large cryptocurrency transactions, has reported that a dormant Dogecoin address holding 2,043,137 (2.04M) DOGE has been activated for the first time after 9.1 years.
? A dormant address containing 2,043,137 #DOGE (186,364 USD) has just been activated after 9.1 years!https://t.co/u8CyCqh1W5
— Whale Alert (@whale_alert) February 5, 2023
Data shared by Whale Alert showed that the address, which has been idle since December 31, 2013, moved the funds in two transactions.
Around 12 hours ago, the owner of the address first moved 10,176 DOGE to an anonymous address. A few minutes later, the user also moved 2,032,961 DOGE tokens to another untagged cryptocurrency address. The dormant address currently has a balance of 0 DOGE, according to data from Blockchair.
Notably, the address was last active on December 31, 2013. The 2.04M DOGE was initially worth $854. However, following Dogecoin’s massive rally over the years, the fund has appreciated to a whopping $194K on February 5, 2023.
Reacting to the development, crypto community members took to the comment section to congratulate the owner of the address for making a huge fortune from what was initially seen as a paltry investment.
congrats to this guy
who made 10000x on $doge— Saul Goodman ? (@IqrarAh45149407) February 5, 2023
Not New
It is not every time the crypto community gets to see a dormant address activated after several years of inactivity. However, this is not the first time Whale Alert has shared details of a dormant Dogecoin wallet that came to life after several years of inactivity. In November 2022, Whale Alert reported that an anonymous crypto user activated a dormant address containing 2,374,814 (2.37M) DOGE after being idle for over eight years. Cryptocurrency tracking platform Lookonchain confirmed that the owner broke the tokens into smaller fractions and distributed them to different addresses. Â
In the same month, TheCryptoBasic reported that an unknown whale activated a dormant Ethereum address containing 200 ETH after seven years of inactivity.Â
According to data from CoinMarketCap, Dogecoin is currently trading at $0.092. DOGE had surged to a 24-hour high of $0.096 before plunging alongside other cryptocurrency assets, including Bitcoin.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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