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100,000,000 Dogecoin (DOGE) Hits World's Largest Crypto Exchange

100,000,000 Dogecoin (DOGE) Hits World's Largest Crypto Exchange
The world's largest cryptocurrency exchange, Binance, has received a massive deposit of 100 million Dogecoin (DOGE), worth $25.4 million. This unusual pattern of a deposit comes at a time when most big transactions have been withdrawals. The move has sparked speculation about whether this indicates a forthcoming sell-off or if it is simply a large investor moving funds. Unfortunately, this deposit occurred at a precarious time for Dogecoin, as its value has already been declining and dropped below $0.30 for the first time since November 2024. The transfer has attracted significant attention, with over 48,000 people seeing the report on Whale Alert. The market psychology plays a role here, where traders become nervous as prices hover near key levels, potentially leading to more significant price movements. It remains uncertain whether this deposit is a warning sign of a further decline or an isolated event. However, the conjecture around Dogecoin has undoubtedly increased due to this significant deposit.

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