Dormant Dogecoin Whale Becomes Active Again After A Decade

A
dormant
Dogecoin
(DOGE)
whale
with
a
wallet
balance
of
893,303
DOGE
(about
$145,101)
became
active
on
May
22
after
over
10
years
of
inactivity.
The
account
made
a
transaction
for
the
first
time
since
May
2014.
The
sudden
resurgence
has
sparked
fears
about
the
impact
of
such
a
transaction
on
Dogecoin’s
price
trend.

According
to
Whale
Alert,
the
Dogecoin
Whale
transferred
23,338
DOGE,
valued
at
about
$4,000,
to
Binance,
the
world’s
largest
cryptocurrency
exchange.

Dogecoin
Whale
Owns
869,964
DOGE
Despite
Huge
Transfer

Despite
the
big
transfer,
the
whale
still
holds
over
869,964
DOGE,
worth
about
$141,101.

The
latest
reawakening
isn’t
an
isolated
event.
Earlier
in
the
month,
a
Dogecoin
Whale
transferred
$60
million
in
DOGE
to
Robinhood,
which
had
just
received
a
Wells
Notice
from
the
Securities
and
Exchange
Commission
(SEC).

On
May
21,
Whale
Alert
revealed
another
major
transaction.
The
transaction
involved
shuffling
a
600
million
DOGE,
approximately
valued
at
$100
million,
between
two
unknown
wallet
addresses.
Specifically,
the
Dogecoin
whale
transferred
300
million
DOGE
to
each
wallet.

????
????
????
300,000,000

#DOGE
(50,359,625
USD)
transferred
from
unknown
wallet
to
unknown
wallethttps://t.co/b7XUeTZ5J2

—
Whale
Alert
(@whale_alert)

May
21,
2024

These
transactions
have
drawn
considerable
attention,
but
the
motives
and
implications
of
these
transfers
are
unclear.

The
movement
caused
DOGE’s
price
to
rise
13.08%,
however.

DOGE
recorded
a
price
increase
of
13.08%Coinglass
data
further
indicates
heightened
investor
interest
in
the
asset.
According
to
the
derivatives
data,
DOGE’s
open
interest
(OI)
increased
by
27.05%
to
$1.05
billion,
accompanied
by
a
volume
upswing
of
212.27%
to
$3.73
billion.

The
latest
activity,
along
with
the
previous
Dogecoin
whale
transactions,
is
driving
the
conversation
around
Dogecoin
price
prediction.
Investors
and
market
analysts
are
closely
monitoring
these
movements,
speculating
on
the
potential
for
further
price
surges
and
the
overall
influence
of
whale
activities
on
the
cryptocurrency’s
future.