Binance Witnesses Transfer of 10,366,683 Dogecoins as a Major Holder Drives Price Up for the Meme Cryptocurrency

In the ever-evolving world of cryptocurrencies, a significant event has caught the attention of many in the community. An unknown wallet, dormant for nearly two years, has reactivated and withdrew a substantial amount of Dogecoin (DOGE) from Binance.

According to recent reports, this wallet withdrew 10,366,683 DOGE, currently valued at over $2.25 million. This move marks a noteworthy return for the "whale" in the Dogecoin ecosystem.

The wallet, previously holding only Ethereum (ETH) and stablecoins, has now added 10.367 million DOGE and 1 Binance Coin (BNB) to its holdings, bringing its total value to just over $2.25 million.

Interestingly, two smaller transactions of 100,000 DOGE and 199.88 DOGE were also made from the same wallet before the larger transaction.

The reactivation of this wallet has sparked discussions about the potential set up of Dogecoin for a price movement "to the north." However, it's important to note that the article does not predict with certainty whether there will be a price movement in this direction.

The current trading price of Dogecoin (DOGE) stands at $0.218, with the resistance for the coin on the weekly chart approximately $0.35. The price of Dogecoin has been moving sideways, and volatility for the coin has narrowed.

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This article is tagged with #Dogecoin and #Binance. The opinions expressed by U.Today writers do not represent the views of U.Today. The author of this article is Godfrey Benjamin.

In the meantime, the deeper support for Dogecoin remains close to $0.09. As always, stay tuned for more updates as the crypto market continues to evolve.