Whale Alert reported that the wallet, which first went online in November 2024, executed a $26.8 million transfer to Binance with 36 DOGE seeds from one of Dogecoin’s richest addresses, moving 129,361,857 DOGE to the world’s largest cryptocurrency exchange in a single transaction.
Address “DL7jHH” was first replenished by wallet “DJfU2” about a year ago. This wallet is an entity that currently holds over 576.7 million DOGE worth $117 million.
Since its activation, the wallet has accumulated significant positions and is currently directing most of it to Binance. Even after today’s breach, the company still controls over $31.6 million in Dogecoin, worth approximately $6.4 million.
At the time of the transfer, Memecoin was trading around $0.203, showing some recovery from its early lows but still under pressure compared to levels above $0.209 earlier in the session. Given the size of the margin, it seems likely that the market will fall, as this is usually a sign of increased selling.
What if not?
The only other case is if the transfer was an exchange’s own internal shuffle. But while we don’t know this for sure, what makes this event stand out is not just the scale of the movement, but the pedigree of the wallet itself. Seeded by one of DOGE’s most famous whales, it remained silent for several months before surfacing with a surprise $26 million transfer to the world’s largest cryptocurrency exchange.
Whether this inflow leads to active liquidation or remains as suspended capital within Binance will likely determine the trend of Dogecoin’s near-term volatility.
