Dogecoin moves $65 million in first big drop of 2026

After a very bullish start to the new year, it has been revealed that a major Dogecoin trader is making a large transfer involving millions of Doge tokens as the entire crypto market pauses its recent rally.

The transfer has caught the attention of the crypto community, with a whopping 466 million Dogecoins being moved between two unknown wallets.

The large Dogecoin transfer was worth approximately $65,319,417 at Dogecoin's price at the time of the transaction, according to data provided by on-chain monitoring firm Whale Alert.

Sources revealed that a large amount of DOGE tokens were transferred by an unknown sender to an unidentified decentralized wallet at the address “D6LM15E”.

Dogecoin resumes its rise ahead of Bitcoin and XRP

In the recent crypto market rally, all major cryptocurrencies posted significant gains, with XRP leading the top five pack with the largest daily gain on most days, but momentum has finally subsided and the crypto asset's price rise has paused.

Due to changes in market sentiment, the cryptocurrency market is currently undergoing its first major correction in 2026. However, Dogecoin bucked this trend and resumed the bullish side of the market.

While Bitcoin, XRP, and other major cryptocurrencies remain in the red zone, Dogecoin has posted a decent 1.42% increase from the previous day, and the dominant meme asset may end up leading the broader crypto market in the next leg.

Nevertheless, the mysterious nature of DOGE's large-scale transfers has sparked curiosity, as the motives behind such anonymous transactions are difficult to predict.

However, speculators have suggested that this move could be a massive buying move given its timing, as it occurred while DOGE was trading bullishly against the broader crypto market.

Following Dogecoin’s bullish price movement, it traded positively at $0.1466, reflecting a slight decline from the high of $0.1536 achieved earlier in the day.

Dogecoin’s price movement has been positive amid the overall market downturn, with investors optimistic that the market’s strong rally in early 2026 may not be over yet, with hopes that Dogecoin could regain $0.2 soon.