Large Dogecoin Whale Activity Noticed, With 1.6 Billion DOGE Wired to Coinbase and Binance

Popular blockchain sleuth Whale Alert, which tracks down large cryptocurrency transfers, has detected almost a dozen massive Dogecoin transactions on the largest U.S.-based cryptocurrency exchange, Coinbase.

These transfers were worth tens of millions of U.S. dollars, indicating an increase in DOGE whales’ activity around this platform. However, even more DOGE was sent to and from Binance - seven times that amount. Nearly half a billion DOGE was deposited to Robinhood. All this whale activity increased drastic ally, while the Dogecoin price has staged a 31.61% increase over the past 24 hours. Earlier today, the original meme cryptocurrency soared to the $0.1722 level. However, this was followed by a slight decline of roughly 6%, taking DOGE down.

More than 1.6 billion DOGE on move

Over the past two days, Dogecoin whale activity has drastically increased, in particular around Coinbase and Binance exchanges. A total of 196.5 million DOGE was transferred to and from major U.S.-based exchange Coinbase. Only 60 million Dogecoin were withdrawn from it to an unknown blockchain address; the rest of that large amount of meme coins was transferred to Coinbase from anonymous wallets within the last 24 hours.

🚨 60,000,000 #DOGE (8,875,422 USD) transferred from #Coinbase to unknown wallethttps://t.co/zyaDzUhFB1

— Whale Alert (@whale_alert) March 4, 2024

In the other seven transactions, Binance exchange was involved. A mind-boggling amount of 466 million DOGE was withdrawn from this largest cryptocurrency trader by volume into anonymous digital wallets over the weekend. An astounding 600,000,000 DOGE was transferred to Binance, and 450,000,000 was moved from an unknown wallet to Robinhood brokerage app.

More than 1.6 billion Dogecoin were transferred in total.

🚨 🚨 🚨 🚨 600,000,000 #DOGE (83,651,499 USD) transferred from unknown wallet to #Binancehttps://t.co/7YN91aNXHq

— Whale Alert (@whale_alert) March 2, 2024

Over the past two days, DOGE has printed an impressive rise, following its previous price jump. Dogecoin and the rest of the market have been following the flagship cryptocurrency, Bitcoin. Earlier today, BTC topped the $65,000 level, taking a few more steps toward the all-time high of $69,000 reached in the fall of 2021.

Dogecoin founder cites ancient DOGE forum message

Over the weekend, Dogecoin cofounder Billy Markus took to X to call DOGE an indicator of “how retarded people in crypto are getting.” He also cited a message from the Bitcoin forum about DOGE to show the source of his thought.

Billy Markus (“Shibetoshi Nakamoto” on X) is known for his ironic statements on social media.