Dogecoin, the world's 8th largest cryptocurrency by market cap, is known to many as a joke cryptocurrency that rose to fame in 2013. Despite this reputation, holders of the coin have revealed strong loyalty and purchasing power, with a dormant address containing 1.5 million Dogecoin ($123,155) having recently been awoken after 9.3 years of complete dormancy.

It is not unheard of for dormant Dogecoin addresses to be reactivated after prolonged periods of inactivity, as another wallet boasting 1.2 million coins was recently reactivated after a similar amount of time. This points towards several indications, such as the holding power of loyal DOGE buyers and the fact that wallets depreciated of keys can be recovered, adding to the coin's uniqueness.

Furthermore, Whale Alert data revealed that 70% of Dogecoin holders are long-term holders, with 21% being holders for up to one year while 9% acquired coins in the past month.

The coin's value waxes and wanes with the cryptocurrency markets, and at the time of writing it is trading at $0.079, a 1.80% increase from the previous day.

In recent news, BIT Mining Limited unveiled its newest mining device, the LD4, which boasts greater computing power and efficiency for Litecoin and Dogecoin mining.

Dogecoin also recently managed to break into the mainstream, with April 20th's highly-publicised launch of the Starship rocket trending the hashtag #DOGEDay on Twitter. Major media platforms around the world reported on Dogecoin and this attention sent the price of the coin to an all-time high.



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