A wallet recovery service says it has achieved the impossible — opening up a six-year-old wallet that contained 10 million DOGE.
KeychainX said it was contacted by a retired truck driver who had purchased a massive Dogecoin stash in 2015 for about $1,500. Fast forward to now and its value had increased by more than 2,000x — and would now be worth more than $3 million.
Here’s the problem: the PIN to his Android wallet was 12 digits long, something that the company thought would be impossible to crack in a lifetime.
The KeychainX team got to work by asking for numbers that had significance to him — such as the year of his birth. From here, they analysed the wallet he used to assess the type of wallet encryption that had been deployed.
An endless range of experimentation took place — and then a breakthrough happened: They realized that part of the wallet owner’s hints may be the PIN. It worked.
A nerve-wracking moment
One of the most nail-biting points for KeychainX was ensuring that the funds in the wallet were safely moved. Because it dated back six years, the team estimated that it would take several days to sync.MORE INSIGHTS FROM KEYCHAINX HERE
The most nerve-wracking moment involved completing a small test transaction to ensure that DOGE from the amount could safely reach its new destination.
Extra precautions were also taken to ensure that keyloggers weren’t installed that could cause the funds to disappear.
Robert Rhodin, the CEO of KeychainX, said the delighted DOGE investor has promised to share a beer next time he is in town. He added: “Losing a pin to your wallet is not bad after all. If you manage to open it years later, it could be a life changing amount. This time it was.”
KeychainX first launched in 2017 and specializes in recovering lost crypto from mobile, hardware and software wallets. Over the past six months, it has recovered more than 100 wallets — and predominantly focuses on retrieving Bitcoin and Ether that has been rendered inaccessible. In the past, they have reunited investors with BTC from 2013, and ETH that dates back to the presale in 2015.
The company says that its custom software is 1,000 times faster than common tools when it comes to retrieving keys — and that it’s the only publicly registered company that operates in this space, a stark contrast from competitiors who use pseudonyms or are one man bands.
“There is a common opinion that 20% of Bitcoin are lost forever, we believe those Bitcoin are just waiting to be discovered,” KeychainX told Cointelegraph.
DOGE Price To Explode 1000x!! This Is When Dogecoin Price Will Hit $1!
- The total market cap of the crypto space is anticipating a $3 trillion milestone.
- Dogecoin price manifests to break a crucial resistance to reach a new milestone.
The global crypto space is currently experiencing a decent uptrend momentum which can soon rekindle an altseason. On 16th October 2021, the total market cap of the space broke at a crucial resistance of $2.401 trillion reaching $2.50 trillion at the press time. While the altseason is on the horizon, meme coin DOGE is awaiting for the crucial breakout to explode by 1000x.
Analyst Makes a Whooping Prediction for DOGE Price!
Popular crypto analyst Justin Bennett expressed that the meme coin has a proven record to explode massively after a breakout. Further, he stated, the DOGE price is on the verge of a breakout and could leg up by 500 to 1000x if it happens.
$DOGE just needs to take out that area above 0.24.
Do that, and a multi-month rally begins, IMO.
Probably 500 – 1,000% of upside if it confirms. #dogecoin pic.twitter.com/dWDFl1okcR— Justin Bennett (@JustinBennettFX) October 15, 2021
The chart shown by him indicates the formation of a Symmetrical triangle pattern. It seems to be retesting at an important resistance area of $0.25. The technical analyst went on to say that the coin has surged by 5 to 10X in its recent breakouts of a similar pattern. Hence, a similar trend may continue, and probably price could soar beyond 500x this time as the pattern is stronger than the previous, he added.
DOGE Price Forms a Symmetrical Triangle Pattern!
The Doge price is trading at $0.2383 with 2.50% gains in the last 24 hours. The asset seems to be awaiting a crucial breakout. The significance of the bullish bid has lifted the price from the $0.1857 support level. Since the start of Q4, clearing the price compression, the meme coin has formed a symmetrical triangle pattern. If altcoin continues the pattern, it could gain massive profits in the upcoming bull cycle.
The DOGE price has the next important resistance between $0.3 to $0.35, if it breaks above $0.4 crucial resistance then it is expected to hit new ATH. On the contrary, bearish clouds could pull back the price level to the major support of $0.1652.
However, Crypto maniac, the popular crypto analyst. He indicated via a chart that the meme coin could soon break out the harmonic pattern to reach new highs. Collectively, if the asset gets any supporting momentum for the price action, then it could soar beyond expectations.
Mark Cuban Defends Dogecoin Against Bitcoin Maximalists
Billionaire Mark Cuban says that he likes Dogecoin because it’s a fun and cheap way of learning about crypto.
During a recent live audio conversation on Twitter Spaces, billionaire Mark Cuban said that he would continue talking about Dogecoin despite facing pushback from Bitcoin maximalists.
Cuban says that Dogecoin is “a great introduction” to the cryptocurrency space.
The “Shark Tank” host also believes that the meme cryptocurrency is a cheap way of learning about crypto.
Cuban explains that there is a low barrier to entry since one only has to open an account with Robinhood and buy $25 worth of DOGE.
Now that Robinhood is rolling out its own wallets, Cuban says that Dogecoiners will be also able to easily spend their favorite meme coin at merchants of the likes of AMC.
Finally, Cuban has once again praised the Dogecoin community for its frivolousness:
I think it’s a fun community to be part of.
Cuban’s meager Dogecoin holdings
Despite being a strong Dogecoin advocate, Cuban himself owns only $1,500 in the meme coin.
After the billionaire had his commitment questioned by podcaster Preston Pysh, he urged the former to disclose his own position in Bitcoin to prove that he’s not a poser.
in case you own less than I do in Doge and you are just a poser— Mark Cuban (@mcuban) October 16, 2021
Cuban himself described Bitcoin as the superior store of value, but he doesn’t believe that it will succeed in the realm of payments (unlike Dogecoin).
“Vitalik will figure it out”
Speaking of Ethereum, Cuban says that he’s not arguing that there is a risk linked to Ethereum’s switch to proof-of-stake through the “difficulty bomb” mechanism.
However, he believes that co-founder Vitalik Buterin will be able to figure things out:
I’m guessing that Vitalik will figure it out.
If Ethereum “screws the pooch,” Cuban expects other chains to take its place.
As reported by U.Today, Buterin also joined the advisory board of the recently re-established Dogecoin Foundation.
Dogecoin Primed for a 500–1,000% Multi-Month Rally if It Hits This Level, Says Crypto Analyst Justin Bennett
Crypto market analyst Justin Bennett thinks Dogecoin (DOGE) is primed for a massive rally if it successfully recovers a key level and retests it as support.
The analyst tells his 78,000 Twitter followers that he thinks meme crypto asset Dogecoin could begin a 500-1000% multi-month surge if it can reclaim the $0.24 level.
“DOGE just needs to take out that area above $0.24.
Do that, and a multi-month rally begins, IMO (in my opinion).
Probably 500 – 1,000% of upside if it confirms.”
According to Bennett’s analysis, if DOGE can break $0.24, he expects a short-lived pump to a previous high at $0.26 before retesting $0.24 and moving higher. At the time of writing, Dogecoin is trading at $0.236, according to CoinGecko.
The crypto market strategist is also looking at Dogecoin’s daily chart, where the meme crypto asset is coiling and forming a large triangle pattern. The formation of a triangle in an uptrend suggests the bullish continuation of an asset once it takes out its diagonal resistance. According to Bennett’s chart, DOGE has printed the same pattern twice this year. In both instances, massive run-ups followed the breakout.
In a recent issue of his market analysis on the Cryptocademy newsletter, Bennett highlights three key price targets for DOGE to hit, assuming it can confirm a break above $0.245.
“If this breaks higher, targets like $0.32, $0.42, and $0.57 are well within reach.
However, keep in mind that a daily close above the upper trend line near $0.245 is required to confirm the breakout.”
Looking at DOGE against BTC (DOGE/BTC), Bennett predicts the pair will break out of a massive falling wedge formation that’s been developing since June.
“It isn’t just DOGE against the USD, either.
This falling wedge on DOGEBTC is ridiculous.
Only a matter of time before it rockets higher, IMO.”
The falling wedge formation is a technical analysis pattern that also suggests a move to the upside once the breakout is confirmed.