A major cryptocurrency owner suddenly lost 5.3 million Dogecoin tokens after 10 years of inactivity

According to Whale Alert, a blockchain tracker that monitors large cryptocurrency transactions, the owner of a wallet with 5,392,984 DOGE worth about $ 372,461 suddenly came out of hibernation. According to the platform, the whale transferred the tokens to new addresses.

The last time the address DGZHPYtsBnrkDJeYXJcW6FFrtJWwu1oJ1R was active was in 2013. It was then that Біллі Маркус" href="https://noworries.news/biography/billi-markus/" data-bio-id="3704">Billy Marcus and Jackson Palmer created the Dogecoin memtoken. It is believed that the sudden activity of old addresses is a bad sign. According to analysts, the whale coming out of hibernation may indicate the upcoming sale of a large number of tokens. However, in some cases, owners simply move digital assets to other addresses and continue to use them.

As for Dogecoin, at the beginning of the week, the price of the token increased by 16.11%, jumping from $ 0.0649 to $ 0.0753. However, the rally was short-lived: at the time of writing, memecoin is trading at $ 0.0688.

As a reminder, there has been a significant movement of «old bitcoins» on the market recently. Since the beginning of 2023, more than 10,000 coins have come out of hibernation, some of them dating back to 2012−2013. In early October, a cryptocurrency whale transferred 5,000 BTC to two new addresses. Online data shows that the whale sent the coins to two different addresses. The first one received 4,000 BTC, and the second one received the remaining 1,000 BTC. And in February, a BTC wallet that had been inactive for 11 years withdrew 412.12 BTC, leaving only 0.11 BTC on the account.