A dormant Dogecoin wallet was reactivated after almost a decade. DOGE long-term outlook was not on the bullish side. According to Whale Alert, a Dogecoin [DOGE] holder who owns over 2 million worth of the meme resurrected the wallet on 5 February. At the time of writing, the holdings were valued at $186,364. 💤 A […]
Nine years ago, DOGE was worth about $0.00022— incredibly below the current value of $0.09. This obviously showed that the holder had made incredible gains from this unwavering faith in the cryptocurrency.
However, Santiment data revealed that the resurgence in activity from this particular wallet did not circulate around. This was because the five-yearBut it is noteworthy to mention that there were notable spikes in the metric in November 2022. The increase during the period mentioned above meant that a series of dormant holders jumped out from inert.Source: SantimentThe active addresses represent the total number of users that have either sent or received an asset via a network.
While circulation rose in the last seven days, it was a different story with the metric in the last 24 hours. The circulation describes the amount of unique assets transacted within an interval. Hence, the decline showed that new addresses had failed to jump on the DOGE train. So, the growth in transactions was mostly executed by Dogecoin long-term holders.
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