In recent developments, Dogecoin (DOGE/USD) has grabbed the spotlight as its price surged by 4%, surpassing the notable $0.69 mark on Monday, while Bitcoin (BTC/USD) witnessed a downward trend.
The cryptocurrency market was abuzz as a long-dormant Dogecoin wallet, inactive since 2014, made a remarkable reappearance. This wallet transferred a substantial 5,392,984 DOGE, equivalent to $372,461, to another wallet last Thursday and Friday. The transfer was brought to light by Blockchair, a prominent blockchain tracking tool. Remarkably, the once-dormant wallet’s value experienced an astonishing 80,000% increase, now sitting at nearly $376,758, owing to the prevailing trading prices of Dogecoin.
Dogecoin, conceived on December 6, 2013, by its creators Billy Markus and Jackson Palmer, was designed as a lighthearted alternative to the predominantly serious cryptocurrency landscape. Drawing inspiration from the popular Shiba Inu meme, Markus took charge of the initial four releases, while Palmer managed the Dogecoin.com website, fostering a community of Dogecoin enthusiasts and supporters.
Concurrently, the cryptocurrency world anticipates the approval of a Bitcoin Spot ETF, which is poised to be a key topic of discussion at Benzinga’s Future of Digital Assets event.
