Satoshi-Era DOGE Whale Emerges After 10.2 Years of Inactivity

Popular blockchain tracker, Whale Alert, has brought attention to the reactivation of a long-dormant Dogecoin wallet that last saw activity during the time of Bitcoin's creator, Satoshi Nakamoto. Satoshi disappeared from public view in 2010, believing it to be the best course for the future of his brainchild, BTC.

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Originally launched in December 2013 as a humorous parody of Bitcoin, Dogecoin was created by Billy Markus and Jackson Palmer. Markus even adopted the nickname "Shibetoshi Nakamoto," playfully mocking Satoshi on social media.

The awakened wallet, now 10.2 years old, harkens back to the late 2013 era, indicating its owner's early involvement as a Dogecoin holder

The aforementioned source tweeted that the reactivated Dogecoin address currently holds 747,645 DOGE, which is valued at $113,344. The owner of the wallet has transferred a small portion of their DOGE holdings, specifically 100 Dogecoin, to another anonymous wallet.

The reactivation of the wallet coincided with a decline in DOGE's price. Following its peak at $0.2 on March 5, the price of Dogecoin dropped by 38% to reach $0.1285. In the last 24 hours, the popular canine-themed cryptocurrency experienced a 32.5% increase, followed by a 14% decline. At the time of writing, DOGE is trading at $0.1544 on the largest crypto exchange, Binance.

The mentioned peak marked a three-year high for DOGE, occurring as the cryptocurrency followed Bitcoin, which reached an all-time high of $69,200.

Whale Alert has also reported significant transfers involving existing whales, with over 1.5 billion Dogecoin being moved to and from Robinhood, a popular brokerage platform that offers investments in both cryptocurrencies and traditional company shares. Three massive transactions were detected, with the largest one involving 500,000,000 DOGE, and the other two involving 300,000,000 and 256,396,141 DOGE, respectively. Collectively, this 1.5 billion DOGE amounts to approximately $167.4 million in fiat currency.