The Dogecoin (DOGE) community witnessed the reawakening of four ancient whales that had remained inactive for over nine years.
Beginning this year, these long-dormant whales have orchestrated significant movements, transferring a total of 6.8 million DOGE, valued at approximately $557,157 based on Dogecoin’s prevailing prices during their activity.
The resurgence of these four ancient Dogecoin whales, which remained dormant for nearly a decade, has sparked intrigue within the cryptocurrency community.
Each of these whales had been inactive for over nine years before making their recent transactions, hinting at a noteworthy change in the cryptocurrency landscape.
The recorded transactions paint a compelling picture of the ancient whales’ activities:
- February 5: An inactive whale for 9.1 years, denoted by the address “DGqsy…HRkx9,” moved 2,043,137 DOGE, equivalent to $186,364 at the time.
- April 4: An inactive whale for 9.3 years, identified as “DBdFd…KsoA5,” initiated a transfer of 1,215,614 DOGE, amounting to $116,460.
- May 4: Another whale dormant for 9.3 years, designated as “DRRnY…8ZueN,” conducted a movement of 1,556,994 DOGE, valued at $123,155.
- June 27: An inactive whale for 9.5 years, known by the address “DBw7A…Ymasm,” transferred 2,002,447 DOGE, equating to $131,178.
Interestingly, while the ancient whales in April and June retained partial holdings, those in February and May emptied their balances.
Notably, all four transactions occurred on days marked by negative price performance (red days), indicating that DOGE’s price may have been influenced by the activities of these ancient whales.
This observation raises questions about the potential impact of long-dormant whales on market dynamics.
As of the present moment, DOGE is trading at $0.07407, reflecting a 0.88% loss over the last 24 hours. Despite this, Dogecoin maintains its position as the 7th largest cryptocurrency by market capitalization, standing at $10.37 billion.
Impressively, DOGE has registered a 3% gain in market value over the past 30 days, showcasing its resilience and ongoing community interest.
