Whale Alert has reported a massive Dogecoin transfer of 900,000,000 DOGE, valued at approximately $207.97 million, landing on Binance. Initially, the transaction appeared to come from an unknown wallet. However, blockchain data later confirmed that it originated from Binance’s wallet infrastructure.
Exchange Wallet Revealed as Source
This revelation shifted the narrative from a mysterious whale move to an internal exchange operation. Despite being an exchange-linked wallet, the address involved remains significant in the Dogecoin ecosystem. It currently holds about 2.88 billion DOGE, worth nearly $497.5 million.
The address has processed over 12.21 billion DOGE in incoming funds and sent out close to 9.33 billion, marking it as a core hub for exchange liquidity rather than a private investor making strategic moves. The timing of this massive transfer drew attention because it occurred during a bout of market volatility.
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Hours before the movement, DOGE prices slid from highs above $0.25 to just under $0.22. After the drop, the price rebounded to around $0.23. However, charts indicate strong resistance near $0.238 and a soft support zone around $0.228, which could be retested if buying momentum weakens.
Potential Impact on Liquidity and Price
Although exchange-related transfers do not always trigger immediate sell pressure, they can alter short-term liquidity dynamics. Moves of this magnitude can reshape order books, shift spread depth, and influence how market makers position their trades.
If similar large transfers follow, DOGE could reach a pivotal moment. The asset might attempt to break above $0.24 and aim higher, or it could retreat toward $0.22 in search of firmer support. Either way, the sheer size and timing of this transfer suggest that traders should watch the next moves closely.
