• Dormant Dogecoin whale stirs, moving $2.95M from Binance wallet.

Dormant Dogecoin whale stirs, moving $2.95M from Binance wallet.

• Dogecoin briefly spikes to $0.20 as whale reactivates dormant wallet.

Dogecoin briefly spikes to $0.20 as whale reactivates dormant wallet.

• Whale’s return fuels speculation on Dogecoin’s short-term market direction.

Whale’s return fuels speculation on Dogecoin’s short-term market direction.

A dormant Dogecoin whale has reemerged after nearly a year of inactivity, moving a staggering 15.115 million DOGE, valued at $2.95 million, from Binance. The large withdrawal sparked a surge of speculation within the cryptocurrency community, particularly among Dogecoin enthusiasts, as the move briefly sent the price of DOGE to $0.20 before it pulled back under resistance.

A dormant Dogecoin whale has reemerged after nearly a year of inactivity, moving a staggering 15.115 million DOGE, valued at $2.95 million, from Binance. The large withdrawal sparked a surge of speculation within the cryptocurrency community, particularly among Dogecoin enthusiasts, as the move briefly sent the price of DOGE to $0.20 before it pulled back under resistance.

According to Onchain Lens, the whale’s address, which had been silent for 11 months, became active again with the significant transfer. In addition to this withdrawal, the wallet made a smaller transaction shortly afterward, swapping 7,473 DOGE for approximately $1,450 in USDT. This small trade suggested the wallet was not only active but also preparing for further movement, fueling intrigue among traders.

According to Onchain Lens, the whale’s address, which had been silent for 11 months, became active again with the significant transfer. In addition to this withdrawal, the wallet made a smaller transaction shortly afterward, swapping 7,473 DOGE for approximately $1,450 in USDT. This small trade suggested the wallet was not only active but also preparing for further movement, fueling intrigue among traders.

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Also Read: XRP’s Potential for Massive Expansion: Analyst Predicts Strong Breakout Ahead

Following the massive withdrawal, Dogecoin experienced an intraday spike, climbing from $0.197 to touch $0.201 briefly. However, the price failed to maintain this level, consolidating just below the key $0.20 line as liquidity continued to build. The move by the whale seemed to coincide with the price action, leaving many to wonder whether the wallet holder plans to accumulate more DOGE or possibly distribute their holdings.

Following the massive withdrawal, Dogecoin experienced an intraday spike, climbing from $0.197 to touch $0.201 briefly. However, the price failed to maintain this level, consolidating just below the key $0.20 line as liquidity continued to build. The move by the whale seemed to coincide with the price action, leaving many to wonder whether the wallet holder plans to accumulate more DOGE or possibly distribute their holdings.

Impact of Long-Sleeping Whale Movements on Dogecoin’s Market Sentiment

Impact of Long-Sleeping Whale Movements on Dogecoin’s Market Sentiment

Long-dormant wallets, like the one in question, have historically played a significant role in crypto markets. These large addresses often trigger significant market movements when they suddenly spring to life. For meme coins like Dogecoin, which are heavily driven by retail investors, the reactivation of such wallets can have a short-term catalytic effect on prices, either fueling optimism or triggering cautious behavior.

Long-dormant wallets, like the one in question, have historically played a significant role in crypto markets. These large addresses often trigger significant market movements when they suddenly spring to life. For meme coins like Dogecoin, which are heavily driven by retail investors, the reactivation of such wallets can have a short-term catalytic effect on prices, either fueling optimism or triggering cautious behavior.

With approximately $12.96 million still held in the wallet, any further activity could shape Dogecoin’s near-term price trajectory. Investors are closely watching the whale’s movements, knowing that further transactions from this address could either lead to more volatility or offer hints about the larger market direction.

With approximately $12.96 million still held in the wallet, any further activity could shape Dogecoin’s near-term price trajectory. Investors are closely watching the whale’s movements, knowing that further transactions from this address could either lead to more volatility or offer hints about the larger market direction.

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Also Read: XRP’s Potential Integration into Apple’s Ecosystem through Epic’s Blockchain Development

The post Dormant Whale Withdraws $2.95M in DOGE From Binance, Ignites Market Speculation appeared first on 36Crypto.

The post Dormant Whale Withdraws $2.95M in DOGE From Binance, Ignites Market Speculation appeared first on 36Crypto.