350 Million Dogecoin Purchased as DOGE Price Drops, Offering Chance to Buy Dip

As reported by top crypto tracking service Whale Alert, an astounding amount of Dogecoin was sent from one anonymous wallet to another, which could mean a purchase. Dogecoin fans in the comments praised the fact that the transaction was conducted in less than an hour and cost only a 31-cent fee to make.

This transfer of 350,000,000 DOGE, in all, took place eight hours ago as the price of the leading meme token went down, dropping slightly less than 2%. This amount of meme tokens was equal to $26,581,455 at the time the transaction was made.

The @DogeWhaleAlert tracker of DOGE transactions marked this transfer as one made between the two top 20 wallets.

🚨 🚨 350,000,000 #DOGE (26,581,455 USD) transferred from unknown wallet to unknown wallethttps://t.co/unjyXArl87

— Whale Alert (@whale_alert) March 29, 2023

Whale moves 34 million DOGE to Binance

According to the aforementioned tracker of DOGE transfers, 11 hours ago, a total of 34,285,849 Dogecoin were shifted to the Binance wallet with the likely goal of selling this meme token chunk.

This happened while a lot of traders have been withdrawing their crypto holdings from this top exchange that was hit with a lawsuit from the Commodity Futures Trading Commission (CFTC) on Monday. Binance has faced withdrawals that accelerated after the suit was filed, and at the start of the week, they exceeded the $2 billion mark.

🐕🪙🐋🚨🚨🚨

34,285,849 $DOGE ($2,605,485 USD) was transferred from multiple wallets to a #Binance wallet.

Fee: 4.54 ($0.34 USD)

Tx: https://t.co/MjvFrmWB1r#DogecoinWhaleAlert #WhaleAlert #Dogecoin #CryptoNews

— Ðogecoin Whale Alert (@DogeWhaleAlert) March 29, 2023

XRP and other crypto being withdrawn from Binance

In particular, large amounts of XRP have been withdrawn from Binance, as reported by U.Today; more than 62 million were removed from this platform on Tuesday, and 152 million XRP have been withdrawn over the past 24 hours as well.

Binance was accused by the CFTC of violating laws about spot and derivatives trading, allegedly allowing U.S. citizens to trade on its main platform without using Binance US. The head of the exchange, CZ, was also sued by the regulator. Among the charges is the fact that Changpeng Zhao used proprietary accounts on Binance to trade against his own customers.