- A dormant wallet moved 10.3 million DOGE from Binance, marking its first transaction in nearly two years.
- The transaction coincided with Dogecoin’s continued price consolidation between $0.09 and $0.35 levels.
- The wallet previously only held ETH and stablecoins before returning with a major DOGE transfer.
A previously inactive crypto wallet has reentered the scene after nearly two years of silence, transferring over 10 million Dogecoin from Binance. The withdrawal, totaling 10,366,683 DOGE, equates to more than $2.25 million based on the current market price of the asset. This unexpected activity has placed the wallet back on analysts’ radars, particularly as Dogecoin continues to trade within a tightly consolidated range.
On-chain data reveals that a Binance hot wallet processed a single exit transaction of 10.266 million DOGE, valued at around $2.23 million. Before the main withdrawal, two smaller transactions involving 100,000 DOGE and 199.88 DOGE were also sent. This sequence culminated in the receiving wallet holding a final balance of approximately 10.367 million DOGE and 1 BNB.
Sudden Activity After Two Years of Dormancy
The wallet’s history shows no prior DOGE activity in the past two years. In 2021 and 2022, its holdings were limited to Ethereum and a selection of stablecoins. The wallet had remained inactive until this recent high-value transfer brought it back into the spotlight.
Dogecoin is currently trading at $0.218. The price continues to move sideways, consolidating within a horizontal channel observed for most of the year. Resistance stands at approximately $0.35, while deeper support is located near $0.09 on the weekly chart.
Timing Raises Speculation on Market Intent
The reactivation of this whale wallet amid reduced volatility may indicate a shift in sentiment or strategy. While the transaction itself does not provide clarity on the motive, it adds a new layer of interest in how large holders may be positioning themselves for future DOGE market developments.
