Dogecoin Sees a Modest Price Rise Today — 500 Million DOGE Sent to Binance, What’s Going On?

Jakarta, Pintu News – A large transfer involving Binance and Dogecoin (DOGE) worth millions of dollars has left the crypto community speculating as to what exactly happened.

Then, how is the current Dogecoin price movement?

Dogecoin Price Rises 0.55% in 24 Hours

On August 28, 2025, Dogecoin saw a slight uptick in price, rising 0.55% over the past 24 hours to trade at $0.2220, or approximately IDR 3,630. During the day, DOGE fluctuated within a narrow range, moving between IDR 3,545 and IDR 3,650.

At the time of writing, Dogecoin holds a market capitalization of roughly IDR 545.6 trillion, with a 24-hour trading volume reaching around IDR 36 trillion.

Read also: DOGE Holders Continue to Buy Amid Decline, DOGE Price Rebound Coming Soon?

Whale Transfer 500,000,000 DOGE

Whale Alert has just highlighted a multi-million dollar DOGE transaction. This significant move saw an unmarked address “DU8gPC” move 500 million DOGE tokens worth $106,338,983 to Binance, the largest crypto exchange by trading volume. Specifically, this transaction took place at 12:36 (UTC) on Tuesday (Aug 26).

Whale Alert identified the recipient address as a Binance-affiliated wallet, but noted that the identity of the sending wallet remains unknown. This sparked various reactions within the crypto community, especially since this transfer was an inflow to the exchange.

Some wondered if this was a whale looking to pull back or if there was something else behind it, while other reactions concluded that this was a big sell-off. However, further research from The Crypto Basic uncovered some interesting details.

Who exactly is moving these Dogecoin tokens?

Meanwhile, Arkham pointed out that the recipient address is definitely a Binance wallet, which is labeled as “Binance: Hot Wallet.”

However, the data also confirms that the sender address is “Binance: Cold Wallet,” which was specifically created to store DOGE tokens. As a result, these clues suggest that the transaction was simply an internal shift from a self-managed Dogecoin store to the exchange’s hot wallet.

Interestingly, such transactions are quite common among trading platforms, as they supply new liquidity from their cold storage to meet the increasing liquidity needs and user activity.

Strikingly, the sending wallet still holds 2.42 billion DOGE at the time of writing, which is worth $516.3 million. It also sent 1.75 million DOGE ($886,390) almost 5 hours before the reported transaction, to another Dogecoin-only cold wallet, “DTSop,” which still held the received tokens at the time of writing.

Read also: Ethereum Falls to $4,500 Today, but Tom Lee Predicts a Surge to $12K

Dogecoin whale activity sparks recovery optimism

Interestingly, actual whale activity on the Dogecoin network has increased recently, according to previous reports. The analysis identified that $1 billion worth of transactions had surpassed the 100 mark earlier this month, with whales accumulating 2 billion DOGE.

This increased activity sparked optimism among supporters who hoped that Dogecoin would recover from its recent price struggles and target a higher price.

Market analyst Trader Tardigrade is one of those projecting a price surge, as he predicts that this meme coin could triple in the much-expected altcoin season.

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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 have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• The Crypto Basic. 500,000,000 Dogecoin Hits Binance: Here’s Who Moved the Assets and Why. Accessed on August 27, 2025