DOGE Whale Moves 176 Million Tokens to Binance as Cryptocurrency's Price Continues to Climb

A massive DOGE whale moved 176 million tokens, valued at over $25 million, to Binance today, sparking speculation as the cryptocurrency's price continues to climb.

A large transaction involving 176 million DOGE tokens, valued at over $25 million, was observed being moved to Binance on Thursday, as noted by crypto trackers.

The transfer, originating from the address "DD1h9," was highlighted by Whale Alert, showing the massive amount of DOGE tokens being sent to the exchange.

According to the available data, the sender's wallet has been active for a long duration, having processed around 15.54 billion coins, which equates to $2.16 billion at current rates.

The wallet's activity suggests that it belongs to a large participant who has recently deposited over $25 million worth of Dogecoin on Binance, one of the most regulated cryptocurrency exchanges.

However, it's important to note that Binance is facilitating the transfer, which may explain the large transaction. The address has also been observed making frequent transactions of a smaller scale.

Interestingly, the transfer to the exchange coincides with Dogecoin breaking through the key price level of $0.14 per DOGE, as noted by U.Today.

This "storming" occurs as the meme coin's price has risen by over 25% year-to-date, reaching four-month highs.

Some speculate that this large transaction could be related to a major player cashing out, given that the transfer is taking place during a period of strong price appreciation for DOGE.

The above is the detailed content of DOGE Whale Moves 176 Million Tokens to Binance as Cryptocurrency's Price Continues to Climb. For more information, please follow other related articles on the PHP Chinese website!