Dormant Wallet Moves 104M DOGE to Coinbase After 4 Years of Silence

A long-dormant Dogecoin (DOGE) wallet suddenly came alive over the weekend, transferring its entire balance of 104,125,016 DOGE—worth around $20 million—directly to Coinbase. The move, first flagged by Whale Alert, is drawing attention due to its size and the wallet’s complete inactivity since 2021.

The address, DNbYuLjGbdiqcv39grmE1ahkMU19Y5dFND, had not recorded any outgoing transactions until this single full-balance transfer. Blockchain records show the wallet received its first DOGE in October 2021, traced to Coinbase Pro withdrawals. Since then, it accumulated additional DOGE in small increments but never sent any out—until now.

The timing of the transfer is notable. DOGE has recently been under selling pressure, dropping from over $0.23 in mid-May to $0.188 at the time of the move—an 18% loss in less than two weeks. The wallet’s sudden activity at this local price low could suggest several possibilities: a major sell-off, an over-the-counter (OTC) deal, internal reshuffling by Coinbase, or a whale exiting after a multi-year hold.

No residual DOGE remained in the wallet—just one full transfer, fee paid, and balance zeroed. While the exact motive remains unclear, these types of large transfers to exchanges often hint at impending market moves.

The DOGE community is now watching closely, speculating whether this signals a broader trend among long-term holders or a one-off liquidation. In any case, a whale holding for nearly four years just made a decisive move—right as Dogecoin tests its support levels.

This development underscores the unpredictable nature of meme coin whales and the ongoing volatility in the altcoin market.