Dormant Dogecoin Whale Awakens: $20M Transfer Sparks Market Speculation
A long-inactive Dogecoin wallet holding 104 million DOGE (worth ~$20M) suddenly transferred its entire balance to Coinbase on June 2, 2025, marking its first movement since 2021. The transaction, detected by Whale Alert, originated from an address that had been accumulating DOGE through Coinbase Pro withdrawals during late 2021. This unexpected activity from a dormant whale wallet has ignited discussions about potential price implications for DOGE, which currently trades at $0.18993. The timing and scale of this transfer - representing nearly 0.8% of DOGE’s circulating supply - suggests strategic positioning by a major holder during a period of renewed interest in meme coins. While the wallet owner’s intentions remain unclear, such substantial movements often precede significant market activity, whether for liquidation, exchange storage, or participation in emerging DOGE-based financial products. This development occurs as Dogecoin maintains its position as the top meme cryptocurrency by market capitalization, with growing adoption for payments and speculation about potential exchange-traded product approvals. The transfer highlights how dormant whale wallets can suddenly impact market dynamics, serving as a reminder of DOGE’s volatile nature and the importance of monitoring large transactions in this space.
Dormant Dogecoin Wallet Transfers $20M to Coinbase After 4-Year Silence
A previously inactive Dogecoin wallet suddenly moved its entire balance of 104 million DOGE—worth approximately $20 million—to Coinbase over the weekend. The transaction, flagged by Whale Alert, marks the first activity from the address since 2021.
Blockchain records show the wallet initially received Doge from Coinbase Pro withdrawals in October 2021, accumulating small amounts over time without any outgoing transactions. The timing coincides with DOGE’s recent 18% price decline from mid-May highs, fueling speculation about a strategic sell-off or OTC deal.
The complete liquidation—leaving zero residual balance—has drawn attention from the DOGE community. Large transfers to exchanges often precede significant market movements, though the whale’s ultimate intentions remain unclear.
Dogecoin Nears Critical Support Level as Bulls Eye Potential Rebound
Dogecoin teeters at a pivotal technical juncture, with analysts identifying a narrow support band between $0.1901 and $0.1839 as the make-or-break zone for its near-term trajectory. The memecoin’s Friday close narrowly held above this Fibonacci-defended level, setting the stage for either a rally toward $0.2117 or a breakdown to $0.1694.
Technical strategists highlight the confluence of factors at play: Kevin’s chartwork frames the area as a 50% retracement of May’s explosive move, while Cantonese Cat identifies it as the neckline of a three-month inverse head-and-shoulders pattern. Market participants now watch whether DOGE can maintain this precarious balance—a failure here WOULD expose deeper supports near descending trendline levels approaching $0.14.
Dogecoin Faces Liquidity Challenges Amid Potential Rally
Dogecoin’s 16% weekly decline contrasts with technical indicators suggesting a looming breakout. The memecoin, despite its $28.6 billion market cap, trails peers in liquidity attraction—FARTCOIN’s 368% surge highlights DOGE’s 0.04% ninety-day stagnation.
Ascending support on daily charts hints at a 33% upside toward $0.25, though failure to consolidate momentum risks a retracement to $0.14. Spot accumulation and derivative long bets now align, painting a bifurcated path for the Shiba Inu-themed asset.
