According to Whale Alert data, a dormant Dogecoin (DOGE) address holding 870,019 DOGE (worth ~$400 million) was recently activated after 11 years of inactivity. This address dates back to Dogecoin’s 2013 launch, making it one of the oldest in the meme coin’s history.
The Rise of Dogecoin
Initially created as a joke cryptocurrency, Dogecoin defied expectations by:
- Building a vibrant online community (notably funding the Jamaican bobsleigh team’s 2014 Winter Olympics participation).
- Surging to a $90 billion market cap in 2021 during the meme coin frenzy.
- Maintaining its position as a top 10 cryptocurrency, currently ranking 7th ahead of Cardano (ADA).
Recent Market Activity
- DOGE is still 40% below its May 2021 all-time high but rallied significantly in November 2023.
- Three other decade-old addresses were activated in November (Nov. 10, Nov. 24), May, and April 2023, suggesting long-term holders may be capitalizing on price gains.
- The token is up 6% weekly, per CoinGecko.
👉 Why Are Long-Dormant Crypto Addresses Suddenly Reactivating?
FAQs
Q: Why are old Dogecoin addresses being activated now?
A: Potential reasons include profit-taking after DOGE’s 2023 rally, estate planning, or renewed interest in legacy holdings.
Q: How does Dogecoin’s current price compare to its peak?
A: DOGE remains ~40% below its May 2021 ATH but has shown strong recovery signs.
Q: What makes Dogecoin culturally significant?
A: Its community-driven initiatives (e.g., Olympic sponsorships) and Elon Musk’s endorsements solidified its pop-crypto status.
👉 The Future of Meme Coins: Expert Predictions for 2025
Key Takeaways
- Dormant addresses reactivating often signal market sentiment shifts.
- Dogecoin’s resilience contrasts with many 2013-era altcoins that faded into obscurity.
- Monitor whale activity for clues on future price movements.