Data shows a Dogecoin address silent since 9.5 years ago has suddenly seen transaction activity during the past day.
Has One Of The Earliest Dogecoin Adopters Returned To The Scene?
According to data from the cryptocurrency transaction tracker service Whale Alert, a very old DOGE address has abruptly shown signs of life during the last 24 hours.
The Dogecoin wallet in question had been dormant for around 9.5 years, and before its activation in the past day, it had been carrying a total balance of 2,002,447 DOGE (worth about $131,178 at the time of becoming active).
Data from the Blockchain Explorer platform Blockchair reveals that the very first transfer that the wallet had been involved in was made way back on 19 December 2013.
The meme coin only went public on 6 December 2013, which means that the address’ first transaction was made merely 13 days following the launch of the asset. This would suggest that the owner of the wallet must have been one of the earliest adopters of the cryptocurrency.
During the next few hours following the address’ first transfer, more coins flowed into the wallet with three more transactions. In total, the holder purchased DOGE worth $662.66 with these transfers.
After these four transactions, however, the wallet went completely silent, as it made no withdrawals at all, and made no further deposits either. That is, of course, until the past day.
Below are the details regarding this new transfer that has broken the 9.5 years long silence of this Dogecoin wallet.
Looks like the transfer only required a negligible amount of fee to go through | Source: Whale Alert
As you can see above, the Dogecoin wallet saw a withdrawal of 1,111 DOGE (about $73) following the activation. This looks to have only been a test transaction, however, as the address also made a much bigger transfer of 999,999 DOGE ($64,745) not too long after.
Now, the question is, why had this wallet been dormant for such a long period of time? It’s hard to say for sure, but generally, addresses like these remain silent for so long because the holder had either forgotten about their existence or had simply lost the keys to them.
It’s possible that either the original holder or a new user entirely, has rediscovered the keys only now, hence why activity has resumed. Unluckily for them, though, they have missed the Dogecoin bull run top by two years.
However, considering that the original investor had only made an investment of $662.66, they would have still made a return of a whopping 19,695.67% as these holdings have grown to $131,178 during the slumber.
Though, while this is an impressive return, the final amount itself is still not that significant in the grand scheme of things, as even if the holder clears out the entire wallet, the market would likely not feel any impact.
DOGE Price
At the time of writing, Dogecoin is trading around $0.643, up 1% in the last week.
DOGE has mostly been moving sideways recently | Source: DOGEUSD on TradingView
