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.
— 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.
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.
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).
At the time of writing, Dogecoin is trading around $0.0916, up 6% in the last week.
DOGE continues to move sideways | Source: DOGEUSD on TradingView
Featured image from Kanchanara on Unsplash.com, chart from TradingView.com