DOGE Sees $18M Withdrawn Amid Whale Moves and Coinbase’s cbDOGE Launch, Trading Volume Surges

Dogecoin (DOGE) is trading at $0.16161 on Binance, reflecting a 2.07% decline over the past 24 hours. The price decrease follows a period of heightened activity, including a notable transfer of 155 million DOGE to Robinhood and over $18.34 million in DOGE withdrawn from exchanges, suggesting increased whale and institutional activity but also short-term profit-taking or repositioning. Recent news highlights Coinbase’s launch of wrapped Dogecoin (cbDOGE) on its Base layer-2 network, expanding DOGE’s utility in DeFi and driving institutional interest; however, these positive developments have not immediately offset the current selling pressure. Trading volume remains robust, with daily turnover between $860 million and $1.1 billion and a market capitalization near $24.4 billion, positioning DOGE as the 9th largest cryptocurrency. Despite the recent pullback, DOGE maintains strong momentum over the past month, supported by increased network activity, whale accumulation, and growing use cases in passive income and DeFi strategies.