A wallet holding over 104 million DOGE valued at around $20 million emptied its entire balance straight into Coinbase late Saturday night. The move, first picked up by Whale Alert, wasn’t just large. It was from a wallet that’s been completely silent since 2021.
The address, DNbYuLjGbdiqcv39grmE1ahkMU19Y5dFND, had no outgoing activity until this one full transfer. Blockchain data shows it received its first DOGE back in October 2021, with funds traced to Coinbase Pro withdrawal addresses. Since then, it collected DOGE in smaller deposits but never moved any out — until now.
The full balance was transferred in one shot, with no leftover dust. Just 104,125,016 DOGE out, fee paid, wallet empty.
🚨 104,125,016 #DOGE (20,090,304 USD) transferred from unknown wallet to #Coinbasehttps://t.co/ZHkkBkN9Bm
— Whale Alert (@whale_alert) May 31, 2025
This kind of move usually raises questions. Transfers of this size to a major exchange typically suggest possible liquidation, positioning for OTC settlement, or consolidation ahead of a move. There’s no way to tell yet, but what stands out is the timing.
Dogecoin has been under pressure for weeks. After pushing above $0.23 in mid-May, it’s been grinding down — and by the time of this transfer, it had fallen to $0.188, wiping out about 18% in under 10 days. This drop puts the transfer right into a local low, which either means someone’s catching the bottom or exiting on the way down.
Whether it’s a whale waking up, internal Coinbase flows, or a long-term holder cashing out, one thing is clear: DOGE that sat still for nearly four years just moved — and it didn’t move small.
