According to IntoTheBlock data, more than 350,000 addresses earlier purchased nearly 64 billion DOGE at an average price of $0.092.

Cryptocurrency Dogecoin amazed the crypto market with its impressive rally at the end of October. On November 2, after hitting a high of $0.158, the price of DOGE got185% higher than the levels it had been trading at throughout the summer.

The surge was attributed to the enthusiasm around Elon Musk’s purchase of Twitter. Musk has long been a proponent of Dogecoin.

Much was the excitement as a dormant address containing 2,374,814 DOGE valued at $338,611 came back to life after over eight years.

At the time of writing, Dogecoin was trading marginally higher at $0.133. Investors took profits after the price rose to a high of $0.1589, causing a drop to $0.122 on Nov. 2. Investors swiftly bought the dip with a current recovery to intraday highs of $0.1370. A break above the $0.1589 barrier could kickstart the next leg of the uptrend. On the other hand, a drop below current levels might seek support within the $0.11 to $0.12 range.