175,274,112 DOGE Stuns World's Largest Exchange, Binance – What's Happening？

Major blockchain tracker Whale Alert, which tracks down large cryptocurrency transactions, has spread the word about a massive Dogecoin withdrawal spotted on the worlds biggest centralized crypto exchange, Binance.

The transfer spotted by Whale Alert is worth almost $55 million in fiat.

175.2 million DOGE kicked away from Binance

The above-mentioned data source shared the details of a large crypto transfer, which carried $175,274,112 valued at $54,687,521. This massive Dogecoin chunk was transferred from Binance to an anonymous cryptocurrency wallet.

???? ???? ???? 175,274,112 #DOGE (54,687,521 USD) transferred from #Binance to unknown wallet

— Whale Alert (@whale_alert) January 27, 2025

The details shared by Whale Alert showed that that amount of meme coins was sent to two different blockchain wallets. Three transfers, which carried 90,071,992 DOGE each, were sent to a -fSSNC wallet. A total of 175,274,112 DOGE were transferred to another wallet, ending in -eBot6.

The first wallet currently holds a cumulative 537,812,664 DOGE worth $173,476,853, while the other anonymous wallet contains 175,274,112 DOGE valued at $56,536,417. The purchases were made as the popular meme coin suffered a massive plunge, giving traders and investors a great opportunity to buy it on the dip.

As of this writing, the largest meme cryptocurrency in terms of market capitalization size, DOGE, is changing hands at $0.32041. Over the past 24 hours, Dogecoin experienced a massive decline of slightly more than 12%, falling from the $0.35349 level. The iconic meme asset has followed the Bitcoin price trajectory; over the last day, the worlds largest cryptocurrency staged a decline, shedding 6.5% and roughly $7,000 in price evaluation. By now, Bitcoin has recovered a little, printing an increase from $98,320 to the $100,460 price level.

This was not the only large meme coin transaction spotted today.

Whale grabs 257.5 billion SHIB

The analytics account on X social media network @lookonchain has tweeted that a mysterious cryptocurrency whale has accumulated a staggering 257.5 billion SHIB. This amount of Shiba Inu meme coins is equal to roughly $4.6 million.

After the market dropped, this whale accumulated another 257.5B $SHIB($4.6M).

This whale currently holds 477.5B $SHIB($8.57M).

— Lookonchain (@lookonchain) January 27, 2025

The data source pointed out that recently the same whale had bought a similar SHIB batch and currently holds 477.5 billion SHIB worth $8.57 million in fiat. Similarly to the whale that bought DOGE, the SHIB buyer took advantage of a substantial price decline, buying SHIB on the dip.

By now, SHIB has begun to recover after an 11.84% crash faced over the past 24 hours. It is now trading at $0.00001819 after regaining 3.55%.