Whales Dump $400 Million DOGE on Binance

Krutika Adani

A Single Whale

The entire $400 million dump on Binance was caused by a single whale.

Dogecoin Slides Below $0.1

After $400 million worth of DOGE was sold on Binance, the price of the memecoin has dropped below $0.1, almost wiping its entire 2024 gains.

Whales Still Hold Long-Term Optimism

Despite dumping $400 million worth of crypto, whales have retained a significant portion of their DOGE, showing that their long-term expectations are still bullish.

Will Doge Recover Its 2024 Gains?

Dogecoin might still continue its 2021-like rally in the later part of 2024. However, the targets could be much lower than earlier expectations.

Levels To Watch

After its decline below $0.1, DOGE could resume its rally if prices climb above $0.17 within the next couple of weeks. Otherwise, slow recovery could be on the cards.