Mysterious Transfer of Tens of Millions of Dogecoin (DOGE) Tokens Takes Place on Binance

An unusual mystical transfer of tens of millions of Dogecoin (DOGE) tokens took place today on the world's largest crypto exchange, Binance.

A massive and unusual crypto transaction has just taken place, involving tens of millions of Dogecoin (DOGE) tokens being moved on the world's largest crypto exchange, Binance.

According to a recent report by Whale Alert, a total of 176.64 million DOGE, currently valued at over $25.05 million, were transferred to Binance on Thursday, Oct. 20.

The transfer was initiated from an address coded "DD1h9," which is not a new wallet and has a large transaction history. While there isn't much DOGE left on it now, over the period of time, the wallet has seen almost 15.54 billion coins passing through it, which would be equivalent to $2.16 billion at current prices.

So we can conclude that there is a big player behind the wallet, and they have just deposited over $25 million in Dogecoin on the largest centralized crypto marketplace.

? ? 176,644,458 #DOGE (25,054,559 USD) transferred from unknown wallet to #Binancehttps://t.co/UJebSiavns

However, it is also important to note that there may be nothing dramatic here and that Binance itself is behind the transfer. This can be partially confirmed by the size and frequency of transactions, which are usually carried out by the exchange.

Dogecoin (DOGE) price outlook

In any case, it is curious that the transfer to the exchange occurred while Dogecoin was attempting to breach the critical resistance at $0.14 per DOGE.

It is also intriguing to observe this "storming" taking place against the backdrop of the meme cryptocurrency rising by more than 25% year-to-date and reaching four-month highs.

In such an environment, this transfer may already look like the desire of a major player to take profits and move to cash, taking advantage of the price rise.

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