A dormant Dogecoin (DOGE) whale has reemerged, moving a whopping 15.115 million DOGE — worth about $2.95 million — out of Binance after being inactive for almost a year. The strange transfer was spotted by Onchain Lens.
The prologue starts with the same address swapping 7,473 DOGE for about $1,450 in USDT through a DEX aggregator not long after the withdrawal. That test move was small, but it was enough to show that the wallet is still active.
To give some background, the wallet had been inactive for 11 months before this sudden reactivation. In the crypto market, these long-sleeping addresses often reappear and become short-term catalysts, especially for assets like Dogecoin that are heavily focused on retail investors.
As of now, the address has 15.19 million DOGE, which is about $12.96 million at the current Dogecoin market price. The meme coin itself reacted with a quick intraday spike. The price jumped from $0.197 to briefly touch $0.201 before consolidating just under the $0.2 line, where liquidity continues to build.
Dogecoin investors pay attention
While the whale's withdrawal and the short-term rally happened at the same time, it is not clear if the anonymous DOGE investor plans to accumulate more meme coins or they are getting ready to distribute their holdings.
The Dogecoin whale chose this moment, after nearly a year of silence, to pull millions in DOGE off a centralized exchange and back into their own control. With almost $13 million in DOGE still in the account, any more transactions could have an impact on the mood in the upcoming week.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team