[10.4 years later, the ancient Dogecoin whales return: what did they do next? 】
An ancient Dogecoin (DOGE) whale has reappeared on the cryptocurrency market after being dormant for more than a decade, attracting widespread attention from the community. The whale, who holds 893,303 DOGE (approximately $145,101), started trading for the first time since May 2014, according to Whale Alert.
The long-standing account was activated after transferring 23,338 DOGE (approximately $4,000) to Binance, the world’s largest cryptocurrency exchange. The move sparked much speculation about the potential impact on the market, as similar events have historically impacted markets.
For example, the reactivation of the earliest cryptocurrency holders often leads to market movements, which has happened many times with early ICO participants, especially Ethereum.
The general consensus and expectation is that these crypto market participants typically sell their holdings to take profits after long periods of inactivity. Recent transfers on Binance support this view, suggesting that the whale may be preparing to liquidate some of his assets.
Despite this significant transfer, the whale still holds over 869,964 DOGE, worth approximately $141,101. This massive position continues to hang above the market, raising questions about future transactions and its potential impact on the price of Dogecoin.
While the impact on the market will be modest, the nature of this action could signal a shift in sentiment among the "strong hands."
This renewed activity comes amid Dogecoin’s recent rally, which has firmly established it as the eighth-largest cryptocurrency by market capitalization. Each DOGE token is currently valued at $2.413 billion and priced at $0.167.