A dormant address with more than 1.2 million Dogecoins DOGE/USD was activated after 9.3 years of inactivity.
That comes a day later Elon Musk replaced Twitter‘s famous blue bird logo with that of a Shiba Inu dog, the same breed that inspired the creation of Dogecoin.
What happened: Accordingly log chaira crypto portfolio tracker, the Dogecoin wallet address in question contains 1,215,614 DOGE, which equates to around $116,460 at current market rates.
It’s unclear why the whale address decided to reactivate their account after such a long period of inactivity.
See more: Top Indian Apps Giving Bitcoin, NFT Rewards
On Monday, after Musk replaced Twitter’s blue bird logo with a Shiba Inu dog, Dogecoin’s price surged, boosting it by over 30% in 30 minutes.
While the exact motive behind Twitter’s decision to use Dogecoin’s symbol remains unclear, some speculation has linked it to Musk’s affinity for the meme-inspired currency.
Price campaign: DOGE traded at $0.097 in the last 24 hours, up 1.10%, according to Benzinga Pro.
Continue reading: Dogecoin falls as Bitcoin, Ethereum spike: Analyst sees ‘crucial area’ for Apex Crypto to hit $30,000
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