The Dogecoin (CRYPTO: DOGE) blockchain witnessed a wallet dormant since the very beginning of the network (which launched back in December 2013) spring back to life after nearly nine years.
What Happened: A wallet holding 2,374,814 DOGE woke up after being inactive since March 25, 2014, according to Blockchair data. The coins — worth $338,611 at the time of the transaction — have now left their relatively ancient wallet.
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See Also: DOGECOIN (DOGE) PRICE PREDICTION
The coins moved right after Elon Musk acquired social media giant Twitter, resuscitating hopes that Dogecoin will be integrated into the ecosystem as its official means of payment. This had an immediate impact on network activity, which resulted in high whale activity on the Dogecoin blockchain, with one transaction processed over the last 24 hours moving 300 million DOGE for a value of over $41.8 million.
DOGE Price Action: Dogecoin is trading at $0.1304 after seeing its price touch nearly $0.147 earlier on Wednesday, and trading is trading 5.14% lower over the past 24 hours.
Meanwhile, the coin's value is up over 94% over the last seven days, when DOGE spiked higher from a price of $0.067.
Now Read: Elon Musk Should Keep Twitter, Dogecoin Apart For 'Most Bullish Outcome' For Meme Coin: Analyst