Dogecoin’s Big Transaction to Coinbase: Is This a Sign of a Big Sell? This is DOGE’s June 2025 Outlook

Updated

June 2, 2025

Gambar Dogecoin’s Big Transaction to Coinbase: Is This a Sign of a Big Sell? This is DOGE’s June 2025 Outlook

Jakarta, Pintu News – In the past 48 hours, Dogecoin has experienced a significant price drop, breaking below the $0.2 mark after bullish investors attempted to hold above the $0.22 support level. This decline was compounded by reports of a large transfer of Dogecoin to exchange platform Coinbase, which raised concerns among the crypto community.

312 Million Dogecoin Moved to Coinbase

🚨 104,125,016 #DOGE (20,090,304 USD) transferred from unknown wallet to #Coinbase https://t.co/ZHkkBkN9Bm
— Whale Alert (@whale_alert) May 31, 2025

Data from blockchain monitoring platform Whale Alert shows that there were three consecutive large Dogecoin transactions, each involving 104,125,016 DOGE with a value of approximately $20.09 million. These three transactions were sent from three different wallets to the Coinbase exchange, totaling 312,375,048 DOGE, worth more than $60 million at the time of the transaction.

Although these wallets are technically separate, their identical balances, timing, and synchronized movements suggest that they are likely controlled by a single entity. On-chain history shows that these wallets started accepting Dogecoin in October 2021, five months after the cryptocurrency reached an all-time high of $0.7316 in May 2021. After that, there were additional inflows in 2022, but since then, the inflow activity has been almost non-existent.

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Possible Impact on DOGE Price

The main concern for investors is whether this transfer is a prelude to a massive sale to come. The transfer of over 312 million DOGE to Coinbase could be interpreted as a move for liquidation, especially if the wallet owner intends to take profits after holding the asset for almost two years.

Such a sale would put huge selling pressure on Dogecoin, which is already struggling to find market demand to absorb the selling pressure. On the other hand, not all large transfers to exchanges indicate bearish intentions. It is possible that the wallets actually belong to Coinbase itself.

In this case, the transfer may simply represent an internal restructuring or reallocation from cold wallets to hot wallets, which would have no impact on price action. Currently, there is no conclusive evidence confirming either scenario, and this uncertainty is enough to keep Dogecoin traders on their toes.

Dogecoin Price Volatility Responds to Moves

Dogecoin is currently showing high volatility in response to these moves. At the time of writing, Dogecoin is trading at $0.188, down by 0.35% and 14% in the last 24 hours and seven days, respectively. This suggests that the market may have started to react to the potential massive sell-off that may occur.

Conclusion

Dogecoin’s big move to Coinbase is a reminder that the crypto market remains unpredictable and full of events that can instantly change market dynamics. Investors and traders should always be prepared for volatility and prepare their strategies according to the latest developments in the market.

Also Read: Bitcoin in danger of weakening again? Bollinger Bands indicator gives this sign!

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.