Dogecoin News Today: A Dogecoin Whale Awakens, Sending $2.25M Surging After Years of Silence

A large Dogecoin (DOGE) wallet that had been inactive for nearly two years has reactivated, withdrawing 10.366 million DOGE from Binance, valued at over $2.25 million at current prices [1]. The movement was noted on-chain, with the funds initially being transferred in two smaller amounts of 100,000 DOGE and 199.88 DOGE before the bulk of the withdrawal [1]. The recipient’s wallet now holds 10.367 million DOGE and 1 BNB, signaling a significant accumulation of the meme coin. This activity marks a potential return of a major whale to the DOGE market [1].

The wallet in question had previously only held Ethereum (ETH) and stablecoins, but had been dormant since 2021-2022. The reactivation of such a large holder is significant given the relatively low volatility and consolidation seen in the Dogecoin price recently [1]. At the time of the withdrawal, Dogecoin was trading at $0.218, fluctuating within a horizontal channel with key resistance at $0.35 and support near $0.09 [1]. The sudden accumulation by a whale raises questions about potential future price movements, particularly if further accumulation or market sentiment shifts follow.

This event coincides with broader market dynamics in the Dogecoin ecosystem. Open interest for DOGE remains high, nearing 16 billion tokens, or roughly $3.36 billion, despite a general slowdown in speculative trading across altcoins [4]. Gate.io holds the largest share of open futures contracts in DOGE, at $878 million, while Binance accounts for $658 million in unsettled positions [4]. Despite the lack of a strong bullish catalyst, traders have not closed positions, suggesting a waiting game or cautious optimism about an eventual price rebound [4].

The recent activity is not isolated. In a separate transaction, another whale moved 200 million DOGE—worth nearly $50 million—onto Binance, coinciding with a broader market downturn triggered by new tariffs announced by the Trump administration [2]. The sell-off contributed to a nearly 20% drop in Dogecoin’s price within one day, aligning with broader crypto market declines [2]. Analysts noted that such whale dumps can signal diminished confidence and increased selling pressure, especially in volatile markets [2].

Meanwhile, Binance recently integrated Baby Doge Coin (1 MBABYDOGE) on the Solana network and activated deposit and withdrawal services, indicating continued innovation and support for Dogecoin-related tokens [3]. The exchange has also listed other projects, including the newly launched Saros (SAROS) token, and is preparing a new round of airdrops for its Alpha program [3].

Despite recent bearish pressure, some analysts remain cautiously optimistic about Dogecoin’s long-term prospects, particularly in light of continued community support and Elon Musk’s influence. However, with the market still consolidating and whale activity showing mixed signals, the path forward for DOGE remains uncertain [1]. Analysts are closely watching key price levels and market sentiment to gauge the likelihood of a breakout or deeper correction [1]. If the current price falls below $0.20, further selling pressure may intensify, potentially pushing DOGE toward $0.178 [5].

Source:

[1] 10366683 DOGE Out of Binance as Dogecoin Whale Turns ... (https://u.today/10366683-doge-out-of-binance-as-dogecoin-whale-turns-meme-coin-bull)

[2] Dogecoin Whale Dump Sends Price Plummeting Amid ... (https://cryptodnes.bg/en/dogecoin-whale-dump-sends-price-plummeting-amid-market-crisis)

[3] Binance has opened the deposit and withdrawal services ... (https://www.chaincatcher.com/en/article/2203549)

[4] Massive DOGE Interest Stays Put Amid Trading Slowdown (https://www.cointribune.com/en/massive-doge-interest-stays-put-amid-trading-slowdown/)

[5] Dogecoin at $0.21 as $50M Mining Push Targets $1 but ... (https://bravenewcoin.com/insights/dogecoin-doge-price-prediction-dogecoin-at-0-21-as-50m-mining-push-targets-1-but-whale-sell-off-threatens-15-drop)