A Dogecoin (DOGE) wallet is suddenly re-awakening after more than nine years of hibernation to realize a massive increase in the value of its holdings.
According to data from crypto whale tracker Whale Alert, the dormant address, which was holding 2,043,137 DOGE, unloaded the tokens over the weekend to pocket exponential gains.
The holder accumulated the DOGE stash across several transactions in December 2013 and then went completely silent until trading the tokens this past weekend, according to the distributed ledger explorer Blockchair.com.
In that same time period, the dog-themed meme asset went from trading around $0.00043 in December 2013 to $0.0920 at time of writing, a staggering 21,315% increase in price. The value of the wallet’s DOGE holdings skyrocketed from around just $878.55 to $186,364 at the time of the trades.
According to blockchain analytics firm IntoTheBlock, 62% of DOGE holders are currently profitable in their investments while 35% are seeing red.
Last week, a high-ranking Dogecoin engineer said that a new version of the blockchain’s utility-enhancing tool is about to launch.
Michi Lumin told his 32,000 Twitter followers that Libdogecoin 0.1.2 is on its way, although no specific date is given.
“Libdogecoin 0.1.2 soon with easy to integrate mnemonic/seedphrase generation and QR code production, also better MSVC (Microsoft Visual C++)/MSVS (Microsoft Visual Studio) support.”
The nonprofit organization Dogecoin Foundation, which works to advance the project’s ecosystem, says Libdogecoin, which was initially launched in August 2022, is intended to improve utility through wider adoption.Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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