Dogecoin Whale Withdraws $54 Million from Binance Amid Price Decline
On-chain data indicates a significant withdrawal of 175,274,112 DOGE from Binance, valued at approximately $54.7 million, likely by a whale investor. This transaction suggests potential bullish behavior for the DOGE price.
Key Points
- Large transfer observed on the Dogecoin blockchain.
- Withdrawal could indicate long-term holding intentions.
- Transaction followed a sharp decline in DOGE's price; current price is around $0.32, down over 10% in the past week.
- Tokens moved to an unknown wallet, suggesting they are held off exchanges.
- Such outflows can signal bullish implications for memecoins.
