Data shows the Dogecoin wallet is suddenly alive after being inactive for 9 years. Here’s how much profit you’ll make.
Dormant Dogecoin Wallet Has Been Revived After 9.1 Years
According to data from cryptocurrency transaction tracker service Whale Alert, the very old DOGE wallet has shown some activity in the past days. This Dogecoin address has been inactive since about 9.1 years ago and has a total balance of about 2,043,137 DOGE.
💤 Inactive addresses containing 2,043,137 #DOGE (186,364 USD) just activated after 9.1 years!https://t.co/u8CyCqh1W5
– Whale Alert (@waspada_whale) February 5, 2023
To be more precise, before this latest sign of life, the wallet last participated in a transaction on December 31, 2013, according to Blockchair. The first transaction made at this ancient address was made on December 15, 2013.
This is very interesting because it means that the holder of this address must have been one of the earliest adopters of cryptocurrency, as Dogecoin was first launched on December 6, 2013, just 9 days before the wallet made its first transfer.
Back in the first activity day of the address, the price of DOGE was only around $0.0002979. This initial transaction saw the wallet receive an amount of around 24,894 DOGE, which was worth only $7 at the time.
The wallet continued to receive coins for the rest of December 2013 (during which no transactions were sent), until the last transfer was made on the 31st of the month. The address collected a total of 2,043,137 DOGE, and according to Blockchair, the investor had to spend $806.75 to get the coin (or at least it looked like a different stack at the time of the transfer).
After observing this regular activity, the wallet went silent for some reason, until a day ago, when the address finally came back to life, more than 9 years later.
Maybe the owner lost the wallet and just found the key now (or maybe someone else found it), so why the long gap.
In the past day, the wallet appears to have made two transactions; first there was a relatively small transaction sending 10,176 DOGE, worth $937.4 at the time of transfer. The second transferred away another 2,032,961 DOGE balance, at a price of $ 187,268.3.
So, this means that Dogecoin investors can sell their coins for a total of $188,205.7, after getting the token for only $806.75, making a profit of 23,228.9%.
As investors appear to have apparently randomly removed all balances at once, the theory that the key has been lost can hold some weight. Because if the investor has access to the address, he will probably be able to sell the coin in one of the bulls (or, wait for the next one, instead of selling at the end of the bear market as it is now. ).
DOGE price
At the time of writing, Dogecoin is trading around $0.0916, up 6% over the past week.
DOGE continues to move sideways | Source: DOGEUSD on TradingView
Featured image from Kanchanara on Unsplash.com, chart from TradingView.com