Jan 9, 2025
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70 Million DOGE Transferred to Binance During Dogecoin Price Decline
Whale Alert reported a large transfer of over 70 million DOGE tokens to Binance during a recent Dogecoin price drop of 10%. The transaction, valued at $27.6 million, was executed by an anonymous whale. Such transfers often signal potential sell-offs as investors move assets to exchanges for liquidation.
Key Points
- 70,081,124 DOGE transferred to Binance amid price volatility.
- Dogecoin's price has declined by over 11.2% in the last 24 hours.
- Analyst Ali Martinez indicates a sell signal on Dogecoin’s daily chart, predicting further corrections.
- Trader Tardigrade suggests caution against selling, noting the potential for a rally from current support levels.
- Concerns persist regarding increased market volatility due to whale movements.
Investors are advised to monitor the situation closely as Dogecoin tests critical support zones with potential for upward movement.
