Dogecoin News Today: Whale Awakens: 10.36M DOGE Exit Binance as Market Holds Breath

A dormant Dogecoin (DOGE) wallet has recently withdrawn 10.366 million DOGE from Binance, valued at approximately $2.25 million at current prices [1]. This activity, reported by on-chain analytics firm Onchain Lens, marks the reactivation of a wallet that had not been active for nearly two years [2]. According to Arkham Intelligence, the receiving address is 0x10DF1A308F96a8C653faC87bd161C8A5ae91Dc2b, which traders and analysts can now track in real time [2]. The transaction included a total of 10.366 million DOGE and one BNB, highlighting the potential significance of the move in the broader context of market sentiment and whale behavior [1].

The wallet, which previously held only Ethereum and stablecoins, has drawn attention for its sudden activity, suggesting that a large holder—commonly referred to as a “whale”—is making strategic moves [1]. The timing of the withdrawal comes as Dogecoin continues to consolidate within a horizontal trading range, hovering near $0.218 [1]. Analysts point to critical support and resistance levels, with the $0.09 mark as a key support and $0.35 as resistance on the weekly chart. This consolidation has narrowed volatility, making the sudden movement from a major holder noteworthy [1].

The withdrawal aligns with broader patterns observed in the crypto market, where large on-chain movements often precede significant price actions or accumulation phases [2]. Historically, similar whale activity has coincided with long-term holding strategies, where large investors move tokens to cold storage, reducing near-term selling pressure. Given Dogecoin’s recent sideways movement and limited volume, this withdrawal could signal a shift in market dynamics. Traders are advised to monitor price movements in key pairs like DOGE/USDT and DOGE/BTC, particularly during high-liquidity trading sessions [2].

From a technical standpoint, the withdrawal arrives as Dogecoin trades near critical support levels. The RSI hovers near overbought territory at 67, while the MACD indicates mild buyer dominance. The Money Flow Index (MFI) has recently dipped below 40, reflecting reduced buying pressure. If the price breaks below $0.20, it could trigger further downward momentum, potentially testing the $0.178 level [4]. However, if the price holds above $0.21 and shows increased volume, it may retest the $0.25 resistance, potentially pushing toward $0.30 [1].

Analysts and on-chain observers remain cautious, noting that while whale activity can drive momentum, it does not always lead to upward movement. In some cases, large withdrawals precede market sell-offs, especially if they are part of larger liquidation strategies. Given Dogecoin’s volatility and the absence of immediate fundamental catalysts, traders are advised to implement risk management tools, such as stop-loss orders, to protect against downside volatility [2]. Long-term projections suggest potential growth to $1 by early 2026, but these depend on broader market conditions and adoption trends [4].

This event highlights the growing importance of on-chain analytics in cryptocurrency trading. With real-time tracking tools and transparency in blockchain transactions, investors now have more tools to interpret market sentiment. The reactivation of a dormant whale wallet adds another data point to the evolving narrative of Dogecoin’s trajectory, offering traders a fresh perspective as the market navigates uncertainty and consolidation.

Source:

[1] title1 (https://u.today/10366683-doge-out-of-binance-as-dogecoin-whale-turns-meme-coin-bull)

[2] title2 (https://blockchain.news/flashnews/10-366m-doge-whale-withdrawal-from-binance-after-2-year-dormancy-2-25m-on-chain-alert-for-traders)

[3] title3 (https://www.digitaljournal.com/pr/news/indnewswire/dogecoin-price-weakens-whales-move-1537130602.html)

[4] title4 (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)

[5] title5 (https://blockchair.com/news/10366683-doge-out-of-binance-as-dogecoin-whale-turns-meme-coin-bull--7d92e9c0ffacf7b6)