In the Dogecoin (DOGE) space earlier today, the community noticed a large exchange withdrawal of the memecoin. Whale Alert reported that over 103 million DOGE, valued at approximately $11.2 million, were transferred from the now-defunct crypto exchange Bittrex to an unknown wallet. This follows as Bittrex, which declared bankruptcy in May 2023, is in the process of closure.
Bittrex had closed its operations in the United States earlier and announced a total shutdown in November 2023. This ended trading operations on the platform on December 4 of that year. Nonetheless, customers have been allowed to redeem their funds, and Today's DOGE transaction is part of this process.
Holder Secures Dogecoin for the Long-Term
The large DOGE withdrawal was bullish because the holder had just transferred his coins into a private wallet. This implies no particular trading action; instead, it means holding the specific securities for the long term. Generally, crypto traders move them to personal wallets if they have no intention of trading them anytime soon. Such behavior may be due to an expectation of better future returns or fear.
The post "A massive amount of Dogecoin has been withdrawn from the Bankrupt Exchange, Bittrex" first appeared on 36crypto.com news.
#Dogecoinnews #BinanceLaunchpoolTON #CryptoMarketMoves #doge⚡
