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Dogecoin

Dogecoin Wallet Abruptly Revives After 9 Years, Here’s How Much Profit It Made

Keshav Verma
by Keshav Verma
2 years ago
·
Posted in Dogecoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Data shows a Dogecoin wallet has suddenly come alive after being dormant for 9 years. Here’s how much profit its holder would have made.

Dormant Dogecoin Wallet Has Abruptly Revived After 9.1 Years

As per data from the cryptocurrency transaction tracker service Whale Alert, a very old DOGE wallet has shown some activity in the past day. This Dogecoin address had been sitting inactive since about 9.1 years ago and had been carrying a total balance of around 2,043,137 DOGE.

💤 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

To be more precise, before this latest sign of life, the wallet had last been involved in a transaction on December 31, 2013, according to Blockchair. The very first transaction that this ancient address was involved in took place on December 15, 2013.

Related Reading: Shiba Inu Whale Activity Spikes, Is This Bullish?

This is very interesting because it means that the holder of this address must have been one of the earliest adopters of the cryptocurrency, as Dogecoin was first launched on 6 December 2013, just 9 days before the wallet made its first transfer.

Back on the day of the address’ first activity, the DOGE price was only about $0.0002979. This initial transaction saw the wallet receive an amount of around 24,894 DOGE, which was worth just $7 at the time.

The wallet continued to receive coins throughout the rest of December 2013 (during which it made no send transaction), until the aforementioned last transfer took place on the 31st of the month. The address accumulated a total of 2,043,137 DOGE by then, and as per Blockchair, the investor had to spend $806.75 to obtain these coins (or at least that’s what the different stacks were worth combined at their respective times of transfer).

After observing this regular streak of activity, the wallet went completely silent for some reason, until a day ago, when the address finally revived, more than 9 years later.

It’s possible that the holder had lost the wallet and only found the keys just now (or perhaps someone else discovered them), hence why such a long gap.

Related Reading: Bitcoin Addiction: Spanish Rehab Center Offers Mental Counseling For Crypto Depression

In the past day, the wallet seems to have made two transactions; the first one was a relatively small sending transaction of 10,176 DOGE, worth $937.4 at the time of the transfer. The second one transferred away the rest of the 2,032,961 DOGE balance, at a price of $187,268.3.

So, this means that the Dogecoin investor managed to sell the coins for a total of $188,205.7, after having acquired said tokens for just $806.75, making a whopping 23,228.9% profit.

As the investor appears to have seemingly randomly cleared the entire balance at once, the theory that the keys had been lost may hold some weight. Because if the investor had access to the address all this while, they would have likely sold the coins in one of the bull runs already (or alternatively, waited for the next one, instead of selling at the apparent end of a bear market like now).

DOGE Price

At the time of writing, Dogecoin is trading around $0.0916, up 6% in the last week.

Dogecoin Price Chart

DOGE continues to move sideways | Source: DOGEUSD on TradingView
Featured image from Kanchanara on Unsplash.com, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Keshav Verma

Keshav Verma

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Keshav is a Physics graduate who has been employed as a writer with Bitcoinist since June 2021. He is passionate about writing and through the years, he has gained experience working in a variety of niches. Keshav holds an active interest in the cryptocurrency market, with on-chain analysis being an area he particularly likes to research and write about.

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