Dogecoin Whale Moves $63 Million To Binance: Major Flush Incoming?

Dogecoin's DOGE/USD latest whale transactions and rising liquidations have raised uncertainty about the meme coin's short-term future. While some traders expect further downside, others see a potential rebound from lower support levels.

Cryptocurrency	Price	Market Cap	24-Hour Trend	7-Day Trend
Dogecoin DOGE/USD	$0.1672	$24.8 billion	-7.7%	-24.5%
Shiba Inu SHIB/USD	$0.00001214	$7.2 billion	-0.6%	-13.7%
Pepe PEPE/USD	$0.056146	$2.6 billion	-0.04%	-26.3%

Trader Notes: CrediBULL Crypto noted that DOGE has dropped nearly 60% after rejecting a key monthly supply zone.

He believes the next logical targets are the range lows, where he may consider buying DOGE for the first time.

$DOGE absolutely obliterated and down nearly 60% after rejecting off of monthly supply shared in my last post.

Range lows seem to be the next logical next target, and then it's my final targets in green below where I may actually look to buy some $DOGE for the first time in my… pic.twitter.com/MfSZqB3qZ6

— CrediBULL Crypto (@CredibleCrypto) March 10, 2025

Trader Tardigrade pointed out that DOGE has experienced three major pullbacks since October 2022.

The first two corrections of around 64% were followed by +300% and +500% surges.

Given the current 66% pullback, he suggests a potential rally could push DOGE to $1.

Zig Zag Trades analyst Paul predicts DOGE could fall as low as $0.12 before attempting a major rebound.

He sees a five-sub wave decline, with Fibonacci-based support levels pinpointing DOGE's likely bottom.

“DOGE's final corrective phase could test the $0.12–$0.15 range before a potential rally, but there are no guarantees it holds,” Paul noted.

Paul's notations highlight a Golden Zone commonly used to pinpoint Fibonacci support clusters and his markings pinpoint Fibonacci ratios that could define DOGE's near-term floor.

Statistics: Whale Alert data pointed to 360 million DOGE, worth $62.7 million, transferred from an unknown wallet to Binance. This movement raised curiosity if this could mean a sell-off by the whale to cash out or a strategic reshuffling or accumulation.  

Coinglass data shows Dogecoin long liquidations spiking to $19 million on Sunday, its highest levels in three weeks.

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