Binance Has Resumed DOGE Withdrawals After Elon Musk's Remarks.

Binance Has Resumed DOGE Withdrawals After Elon Musk's Remarks.

2021-11-29 | Selina Mathew

Binance Has Resumed DOGE Withdrawals After Elon Musk's Remarks.

Due to a "combination of unexpected conditions," users of Binance were unable to withdraw Dogecoin. Following a technical malfunction caused by the DOGE wallet upgrade, [Binance], one of the world's top cryptocurrency exchanges by daily trading volumes, has resumed Dogecoin (DOGE) withdrawals. After a severe outage in which Binance users were unable to withdraw Dogecoin for 17 days, the exchange formally confirmed on Monday that DOGE withdrawals had been resumed. "Unfortunately for Binance, we had accidentally threaded the needle with all of the aforementioned settings, resulting in the coins being re-sent and necessitating the creation of a new wallet," according to the release. Binance stressed that "no one entity was to blame," as neither Binance nor the DOGE Network was aware of the problem beforehand. Dogecoin is a meme-based cryptocurrency that has grown in popularity since 2020 when Musk began aggressively supporting DOGE on Twitter. DOGE is the tenth most valuable cryptocurrency, with a market value of $27 billion at the time of writing. DOGE's price has plummeted in recent days, with the cryptocurrency losing more than 22% in the last 14 days

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