The data show that a dog wallet suddenly came to life after 9 years of inactivity. This is the benefit the owner would have received.
Sleeping wallet Dogecoin unexpectedly rose after 9.1 Years.
According to data from cryptocurrency tracker Whale Alert, a very old DOGE portfolio has shown some activity in the past day. This Dogecoine address had been dormant for approximately 9.1 years with a total balance of approximately 2043137 DOGE.
?? A dormant address containing 2,043,137 #DOGE (186,364 USD) has just been activated after 9.1 years!https://t.co/u8CyCqh1W5
— 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 first ever transaction of this old address occurred on December 15, 2013.
This is really interesting because it means that the holder of this address must have been one of the first to adopt cryptocurrency, because the Dogecoin was launched December 6, 2013, Nine days to initial transfer.
Return on the first activity of the address, it was only about $0.0002979. This initial transaction saw the portfolio receive approximately 24,894 doge, which was only worth $7 at that time.
The portfolio continued to receive coins throughout the rest of the month of December 2013 (during which no shipping transactions were completed), until the last transfer on 31 December. The address totaled 2,043,137 doge at that time, and in accordance with the blockchair, the investor had to spend $806.75 to get those coins (or at least this is what the various batteries were worth combined with their respective transfer hours).
After observing this steady series of activity, the portfolio became completely silent for some reason, until one day ago, when the address finally resurrected, over 9 years later.
The incumbent may have lost the portfolio and found the keys only now (or perhaps someone else has discovered them), resulting in such a large discrepancy.
On the last day, the portfolio appears to have done two deals; the first was a relatively modest 10,176 DOGE shipment, valued at $937.4 at the time of transfer. The latter transferred the remaining balance of 2,032,961 DOGE for $187,268.3.
Thus, this means that the Dogecoin investor has succeeded in selling the coins for a total of $188,205.7, after acquiring these tokens for only $806.75, making a huge profit of 23,228.9%.
Since the investor seems to have compensated for the balance randomly at the same time, the theory that the keys had been lost can carry 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).
By the time these lines are written, Dogecoin is trading around $0.0916, up 6% last week.
DOGE continues to move sideways | Source: DOGEUSD on TradingView