A dormant address containing 1,556,994 DOGE ($123,155) has been reawakened after 9.3 years of dormancy, according to cryptocurrency data tracker Whale Alert. Founders Billy Markus and Jackson Palmer invented Dogecoin in 2013 as a prank.
The coins may have been bought by the address not long after Dogecoin’s inception, according to the reawakening. This demonstrates the durability of such an address over a lengthy period of time. It’s also conceivable that the wallet recovered its lost keys before reactivating the account.
Recently, deposits left unclaimed for years at dormant Dogecoin addresses have been reactivated.
A wallet containing 1.2 million Dogecoins was also activated in the past month after 9.3 years of idleness. This is not unusual for a cryptocurrency whose majority of owners are with it for the long haul.
Data from IntoTheBlock shows that 70% of Dogecoin owners have kept onto their coins for more than a year.
While 9% of holders have only recently acquired their coins, 21% of holders have held them for a year, or between one and twelve months.
The eighth-largest cryptocurrency by market capitalization, Dogecoin, is still receiving attention. The well publicised “Dogeday” was observed by Dogecoin on April 20, which also happened to be the day of the Starship rocket’s flagship flight.
Despite the unanticipated course of events, Twitter’s trending hashtag “Dogeday” brought publicity to Dogecoin.
DOGE was trading at $0.079 at the time of writing, up 1.80% from the day before. The newest mining tool for Litecoin (LTC) and Dogecoin (DOGE) mining, the LD4, was just introduced by BIT Mining Limited. The LD4 delivers higher computational power and efficiency than the LD3 and is an advancement over it.
