A significant wallet transfer has raised eyebrows in the Dogecoin community. Recently, a newly created wallet on Binance withdrew a substantial amount of DOGE, totaling 32.9 million coins worth $6.96 million. This large withdrawal sparks curiosity about the intentions of this new player in the Dogecoin market. While it might signal buying activity for long-term holding, it could also indicate the transfer of coins into cold wallets to preserve them for a longer duration. The timing coincides with a broader downturn in the crypto market, resulting in massive liquidations of over $809 million across various cryptocurrencies. 32.9 million DOGE represents a sizable chunk of the market and has created an opportunity for whales who are looking to capitalize on discounted prices during these downturns.