Whale Alert, a blockchain monitoring entity, has disclosed a surge of activity involving an ancient Dogecoin wallet. This long-inactive wallet, dating back to the foundational era of cryptocurrencies, has suddenly shown movement, capturing the attention of Dogecoin enthusiasts and investors.
Resurgence of a Dormant Wallet
The specific Dogecoin wallet, which had not seen any action since late 2013, now reveals a balance of approximately 747,645 DOGE, worth around $113,344. Despite the modest value, the age of the wallet adds a layer of intrigue to the transaction. Recently, a transfer of 100 DOGE from this wallet to another undisclosed address has been observed.
Whale Movements in the Dogecoin Sea
Beyond this single wallet’s activity, Whale Alert has identified a pattern of significant transactions involving Dogecoin ‘whales’—entities with large holdings of the cryptocurrency. These whales have executed transactions exceeding 1.5 billion DOGE through Robinhood, a prominent trading platform.
This flurry of Dogecoin transactions follows another episode earlier in the week, where over 1.6 billion DOGE were moved in high-volume transactions among major exchanges like Binance and Coinbase. This pattern suggests a growing engagement from institutional and wealthy investors in the cryptocurrency market.
Recent Performance of Dogecoin
Amidst a volatile period for the memetic altcoin, Dogecoin, which peaked at $0.20 on March 5th, experienced a sharp 38% decline. However, current trends show DOGE regaining momentum alongside the broader recovery of the crypto market, with a current trading value of $0.1544. Initially created as a satirical take on Bitcoin in 2013, Dogecoin has since evolved into a significant player among the top 20 altcoins.