After 9.3 years, an inactive dogecoin ($DOGE) address of 1,556,994 DOGE ($123,155) has resurfaced. Dogecoin, the creation of Billy Markus and Jackson Palmer, was created in 2013 as a playful spoof of cryptocurrencies.
The resurrection of this inactive address shows that the coins were obtained early after Dogecoin’s launch, illustrating the endurance of such an address over time. Another option is that the lost keys from the wallet were found, enabling the account to be revived.
This phenomenon of long-inactive Dogecoin address reactivating has recently been seen, with accounts holding undisturbed deposits for years being revived. After 9 years of inactivity, a wallet holding 1.2 million Dogecoins regained functioning last month.
Long-term investors currently own tens of billions of tokens of the meme-inspired cryptocurrency, as previously reported. Entities that have been HODLing for over a year currently hold 44.8 billion coins worth more than $3.7 billion.
This is the most DOGE supply owned by long-term investors since October 2021, when the cryptocurrency was valued at roughly $0.30, according to data from crypto analytics company IntoTheBlock. According to the firm’s statistics, the number of long-term DOGE investors has gradually increased since the beginning of the year.
Dogecoin, the eighth-largest cryptocurrency by market value, is still a major player. During the highly publicized “Dogeday” on April 20th, which coincided with the flagship launch of the Starship rocket, the coin gained widespread attention.
Even though events occurred unexpectedly, Dogecoin drew attention when the hashtag “Dogeday” trended on Twitter. The cryptocurrency was also just listed on the exchange Coins.ph (founded in 2014) claims to be “the most established crypto brand in The Philippines” with over 16 million users and stated that it will be adding support for $DOGE later today.