Binance, the world's largest cryptocurrency exchange, has completely reopened Dogecoin withdrawals after a technical error.
According to the official announcement by Binance, the DOGE issue has been completely resolved. Investments and withdrawals of DOGE tokens can be carried out normally again.
It was stated that the reasons for the technical crisis between Binance and Dogecoin were an unforeseen accident due to many factors.
Binance said that the issue in question was a "Low probability and unlucky" development and that there was "No questionable background going on as some have claimed." This statement was a reference to Tesla CEO Elon Musk's "Questionable" comment regarding the Dogecoin problem in question.
In the announcement, Binance stated:
“To put it briefly, if a platform listed DOGE with v1.14.0 version in 2019, if the transactions were stuck in the wallet and then there was an update to v1.14.2 first, then v1.14.5, that platform may experience this issue. Unfortunately, we had exactly this combination as a result of an accident. A new wallet had to be developed when there were problems such as the resending of coins.”
The crypto money in question has experienced a similar event in the past. Similar developments are taking place in other exchanges, and these problems can almost always be resolved. However, it seems like a fact that crypto exchanges like Binance want to step into the Dogecoin craze. That's why such developments act as a means of recognition for both the cryptocurrency exchange and the altcoin.
Dogecoin, a memecoin that was created as a joke in 2013, is down about 30% in the past 30 days, according to CoinGecko pricing. It has gained about 6,000% in the past year, spurred by frenzied trading and wider cryptocurrency acceptance.