Dogecoin (DOGE) has been in the light for some time now and no wonder something like this happened. The popular blockchain tracker WhaleAlert reported that an ancient Dogecoin wallet is back online. It was last seen active during Satoshi Nakamoto’s time. In 2010, he disappeared from public view thinking it was best for Bitcoin’s future. The awakened wallet dates back to late 2013, making its owner an early DOGE holder.
Awakening of a dormant Dogecoin walletAccording to a recent tweet from the blockchain tracker, the revived Dogecoin address now holds 747,645 DOGE, valued at $114,988 as of now. This address saw a minor transfer of 100 DOGE to another undisclosed wallet.
This move comes amidst a downturn in DOGE’s price. Following its peak of $0.2 on March 5, the meme-based cryptocurrency experienced a sharp decline of 38%, dropping to $0.1285. Even so, DOGE did not lose its spotlight, which might also be another reason for the awakening.
Despite this recent slump, DOGE has seen yet another 8% decrease over the last 24 hours but still managed a 19% increase over the past week, as per data from
CoinMarketCap. At present, the coin is trading at $0.1535. The aforementioned peak marked DOGE’s highest value in three years, coinciding with a surge in Bitcoin which reached an all-time high of $69,200. Lots of whale transaction reportsWhale Alert has also made waves recently by reporting the transfer of a staggering 1.5 billion Dogecoin by anonymous crypto whales to and from Robinhood. Robinhood, known for its offerings in both crypto and traditional company shares, witnessed three significant transactions.
🚨 🚨 256,396,141
The largest among them involved the transfer of 500 million DOGE, while the other two involved 300,000,000 and 256,396,141 DOGE respectively. In total, these transactions amounted to a whopping $167.4 million in fiat.
Aside from that, Shiba Inu (SHIB) wants to compete with Dogecoin in the meme coin niche. Previously, Kusama teased Dogecoin enthusiasts about Shiba Inu’s intention to challenge Dogecoin’s market dominance, calling SHIB a “Dogecoin killer.” It remains yet to be seen what comes out of this ‘not so serious’ rivalry.
As of now, the meme market cap stands at $54.9 billion reflecting a decrease of 3.5% over the last 24 hours, per data from CoinGecko. Despite the rivalry, the market is dominated by DOGE with Shiba Inu just behind it.
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