Dormant Dogecoin Whale Moves $2.95M, Sparks DOGE Price Spike
On October 26, a dormant Dogecoin whale reactivated by moving 15.115 million DOGE (≈$2.95 million) from Binance to a private wallet after 11 months of inactivity. On-chain analytics spotted the transfer and a quick swap of 7,473 DOGE for USDT to test market depth. The address now holds 15.19 million DOGE off exchanges, tightening DOGE supply. This Dogecoin whale move drove DOGE price from $0.197 to $0.201 before consolidating near $0.20 resistance. Crypto traders should monitor whale moves, as large off-exchange withdrawals often signal accumulation or distribution and can trigger short-term volatility and longer-term sentiment shifts.
Bullish
Large off-exchange DOGE withdrawals by a dormant whale signal accumulation and reduced exchange supply, which typically supports price gains. The on-chain move triggered a rapid price jump, reflecting short-term volatility. Historical whale reactivations in 2024 have led to 20–30% intraday swings in meme coins, often preceding sustained upward trends. While future distribution remains possible, current market dynamics and tight supply suggest a bullish outlook for DOGE in both the near and medium term.