Whale Sends 300 Million DOGE to Binance, Price Down 6%

Popular crypto tracking service Whale Alert has reported that slightly more than an hour ago, an anonymous whale shifted as much as 299,999,999 Dogecoin to the Binance exchange.

That is the equivalent of $21,733,783.

Another crypto tracker, @DogeWhaleAlert, spotted several other DOGE transfers, totaling slightly more than the aforementioned one. Two of them also had Binance as their destination. These transfers took place as Dogecoin shows a small decline in the past 24 hours.

🚨 299,999,999 #DOGE (21,733,783 USD) transferred from unknown wallet to #Binancehttps://t.co/ajMhmuUaxU

— Whale Alert (@whale_alert) May 9, 2023

355 million DOGE moved to Binance, 286 million sent between top wallets

Aside from 300 million DOGE, anonymous transactions were detected, which carried lumps of 29,784,022 and 25,000,858 to Binance wallets. The first was made from a Top 20 crypto wallet, according to @DogeWhaleAlert. These two transfers are worth almost $4 million in fiat.

Aside from the aforementioned transfers, @DogeWhaleAlert also shared that over the past 24 hours, top 20 wallets have shoveled 286.4 million DOGE overall, moving them in three chunks: 83,123,858; 101,573,521 and 101,815,567 Dogecoin. That is equal to $20.6 million.

🐕🪙🐋🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨

101,573,521 $DOGE ($7,367,432 USD) was transferred from an unknown wallet to a #Top20 wallet.

Fee: 1.39 ($0.10 USD)

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

— Ðogecoin Whale Alert (@DogeWhaleAlert) May 8, 2023

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Dogecoin price performance in light of PEPE craze

On May 8, according to a TradingView chart on Binance, the DOGE price demonstrated a decline of nearly 8%. However, earlier today, the meme coin managed to recover a little, adding 2.13%, thus being down around 6% in the past 24 hours overall.

At the time of this writing, DOGE is trading at $0.07274. Therefore, if the aforementioned anonymous whale sold his Dogecoin on Binance, this sale was likely made at a loss.

Over the past few weeks, Dogecoin has been holding well against the frenzy of the recently emerged PEPE meme token, which boasted a spree of listings on major exchanges and surged by over 50% several times.

The Shiba Inu meme coin, which comes second after DOGE in terms of market capitalization value, has lost over 11% in the past week. PEPE managed to reach a nearly $3 billion trading volume on the peak, surpassing SHIB and DOGE.

However, PEPE is now trading 55% below the all-time high of $0.000004354 reached on May 5. The fall began after the meme coin was listed on Binance last week.