Price: $0.38710 1.2022%
Market Cap: 56.86B 1.7332%
Volume (24h): 8.72B 0.4%
Dominance: 1.7332%
Price: $0.38710 1.2022%
Market Cap: 56.86B 1.7332%
Volume (24h): 8.72B 0.4%
Dominance: 1.7332% 1.7332%
  • Price: $0.38710 1.2022%
  • Market Cap: 56.86B 1.7332%
  • Volume (24h): 8.72B 0.4%
  • Dominance: 1.7332% 1.7332%
  • Price: $0.38710 1.2022%
Home > Information news > 10 Years Old Dogecoin Stash Sale Leaves DOGE Owner With Million-Dollar Loss

10 Years Old Dogecoin Stash Sale Leaves DOGE Owner With Million-Dollar Loss

Release: 2024/05/15 18:18 Reading: 703

Original author:Coingape News Media

Original source:https://coingape.com/?p=197018

10 Years Old Dogecoin Stash Sale Leaves DOGE Owner With Million-Dollar Loss

The Dogecoin Million-Dollar Fiasco

In a dramatic turn of events, a Dogecoin (DOGE) investor who held one of the largest DOGE wallets over the past decade missed out on a potential million-dollar gain by selling their tokens at an inopportune time. This wallet, which began accumulating DOGE in late 2013, finally sold its entire stash in late 2023. However, the sale preceded a significant price surge.

The Initial Investment

The wallet's initial investment in DOGE was a mere $146.87, netting over 274,000 tokens just 21 days after Dogecoin's launch. Throughout 2014, the wallet owner continued to invest, initiating purchases ranging from a few cents to a few hundred dollars. By early 2015, the wallet had invested a total of approximately $5,000 in DOGE, amassing a significant amount of the meme crypto.

The Dormant Period and Price Surge

Thereafter, the wallet remained inactive until 2023. During this dormancy period, Dogecoin's value skyrocketed, particularly in 2021. At the time, the "King of Meme Coins" gained substantial attention from social media and endorsements from high-profile individuals such as Tesla CEO Elon Musk. This surge propelled DOGE from less than 1/100 of a cent to a peak of nearly $0.74. At its zenith, the wallet's investment had swelled to over $4 million. However, the owner chose not to sell at that time.

The Crypto Bear Market and Sale

The subsequent crypto bear market of 2022 and 2023 saw DOGE, along with many other cryptocurrencies, lose significant value. The Dogecoin price dropped more than 90% from its all-time high, reflecting the broader market's downturn. However, by late 2023, as DOGE started to show signs of recovery, the wallet owner decided to sell all the Dogecoin tokens on October 28, 2023. The sale, executed in three transactions, garnered approximately $370,000. These sales equating to 5.39 million DOGE at an average price of $0.068 per token.

DOGE's Unprecedented Comeback

Ironically, soon after the sale, meme coins, particularly DOGE, experienced a resurgence. DOGE's price rallied significantly, reaching a new all-time high of over $0.15 in January 2024. Had the wallet owner held onto their tokens, their investment would have been worth over $800,000 at this point.

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.